A Selective Survey on Mathematical Programmings in Macroeconomics

Zongwu Cai and Jingxian Hu
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Zongwu Cai: Department of Economics, The University of Kansas, Lawrence, KS 66045, USA
Jingxian Hu: Zhongtai Securities Institute for Financial Studies, Shandong University, Jinan, Shandong 250100, China

No 202503, WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS from University of Kansas, Department of Economics

Abstract: This paper surveys the literature for the macroeconomic optimization problems in both discrete and continuous time models in macroeconomics, and provides an overview over some related computational methods in order to solve the models linearly and nonlinearly, and to compute the transition dynamics and the impulse response functions. Also, the introduction of the financial sectors, the continuous time analysis, and the advanced mathematical tools into the general equilibrium framework expands greatly the scope of the interdisciplinary research to mathematics, statistics and econometrics, and creates further space for exploration and collaboration. Finally, some future research issues related to this topic are highlighted.

Keywords: Diffusion models; Dynamic programming; General equilibrium; Finite Element methods; Nonlinear models (search for similar items in EconPapers)
JEL-codes: C63 C68 E37 (search for similar items in EconPapers)
Date: 2025-02
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Persistent link: https://EconPapers.repec.org/RePEc:kan:wpaper:202503

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