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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
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Citations: View citations in EconPapers (11)

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Related works:
Journal Article: NUMERICAL SIMULATION OF NONOPTIMAL DYNAMIC EQUILIBRIUM MODELS (2014) Downloads
Working Paper: Numerical simulation of nonoptimal dynamic equilibrium models (2009) Downloads
Working Paper: Numerical Simulation of Nonoptimal Dynamic Equilibrium Models (2009) Downloads
Working Paper: Numerical Simulation of Nonoptimal Dynamic Equilibrium Models
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