| St. Louis Fed | Economic Research | EconDISC® | FRED® | GeoFRED® | ALFRED® | CASSIDI® | FRASER® | Liber8® | APIs | Fed System | Help |
|
| Publications | Economic Data - FRED® | Working Papers | Economists | Conferences | CRE8® |
| Employment | Seminars | Monetary Aggregates | Tracking the Recession |
|
Working Paper 2009-036A Search | View by Year | View by Category | View by Author | View by JEL Code"Problems in the Numerical Simulation of Models with Heterogeneous Agents and Economic Distortions"
Our work has been concerned with the numerical simulation of dynamic economies with heterogeneous agents and economic distortions. Recent research has drawn attention to inherent difficulties in the computation of competitive equilibria for these economies: A continuous Markovian solution may fail to exist, and some commonly used numerical algorithms may not deliver accurate approximations. We consider a reliable algorithm set forth in Feng et al. (2009), and discuss problems related to the existence and computation of Markovian equilibria, as well as convergence and accuracy properties. We offer new insights into numerical simulation. Full Text - Acrobat PDF (239k) Notify Me of Updates for:
|
| About | Contact Us | Privacy | Legal | Top of Page | |
© 2009 Federal Reserve Bank of St. Louis