Numerical Simulation of Nonoptimal Dynamic Equilibrium Models

Zhigang Feng, Manuel Santos, Adrian Peralta-Alva () and Jianjun Miao

No 541, 2009 Meeting Papers from Society for Economic Dynamics

Abstract: equilibria in models with heterogeneous agents and market frictions. This method is based upon a convergent operator over an expanded set of state variables. The fixed point of this operator defines the set of all Markovian equilibria. We study approximation properties of the operator as well as the convergence of the moments of simulated sample paths. We apply our numerical algorithm to two stochastic growth economies, an overlapping generations economy with money, and an asset pricing model with financial frictions

Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

Downloads: (external link)
https://red-files-public.s3.amazonaws.com/meetpapers/2009/paper_541.pdf (application/pdf)

Related works:
Journal Article: NUMERICAL SIMULATION OF NONOPTIMAL DYNAMIC EQUILIBRIUM MODELS (2014)
Working Paper: Numerical simulation of nonoptimal dynamic equilibrium models (2009)
Working Paper: Numerical Simulation of Nonoptimal Dynamic Equilibrium Models (2009)
Working Paper: Numerical Simulation of Nonoptimal Dynamic Equilibrium Models
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:red:sed009:541

Access Statistics for this paper

More papers in 2009 Meeting Papers from Society for Economic Dynamics Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA. Contact information at EDIRC.
Bibliographic data for series maintained by Christian Zimmermann ().