Production Technologies in Stochastic Continuous Time Models

Klaus Wälde

No 2831, CESifo Working Paper Series from CESifo

Abstract: Properties of dynamic stochastic general equilibrium models can be revealed by either using numerical solutions or qualitative analysis. Very precise and intuition-building results are obtained by working with models which provide closed-form solutions. Closed-form solutions are known for a large class of models some of which, however, have some undesirable features. This paper offers closed-form solutions for models which are just as tractable but do not suffer from these shortcomings.

Keywords: dynamic stochastic general equilibrium models; closed-form solution; continuous time; jump diffusion (search for similar items in EconPapers)
JEL-codes: E20 O40 (search for similar items in EconPapers)
Date: 2009
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Related works:
Journal Article: Production technologies in stochastic continuous time models (2011)
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