The computation of equilibria in dynamic stochastic general
equilibrium models with heterogeneous agents has become
increasingly important in macroeconomics and public
finance. For a given example-economy, i.e. a given specificati...
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Información proyecto DYNAMIC MODELS
Líder del proyecto
University of Zurich
No se ha especificado una descripción o un objeto social para esta compañía.
Presupuesto del proyecto
1M€
Fecha límite de participación
Sin fecha límite de participación.
Descripción del proyecto
The computation of equilibria in dynamic stochastic general
equilibrium models with heterogeneous agents has become
increasingly important in macroeconomics and public
finance. For a given example-economy, i.e. a given specification of
preferences, technologies and market-arrangements these methods
compute an (approximate) equilibrium and allow for quantitative
statements about one equilibrium of the example-economy.
Through these so-called 'computational experiments'
many economic insights can be obtained by analyzing
quantitative features of realistically calibrated models.
Unfortunately, economists often use ad hoc computational methods
with poorly understood properties that produce approximate solutions
of unknown quality.
The research-project outlined in this proposal
has three goals: Building theoretical foundations
for analyzing dynamic equilibrium models, developing efficient and stable
algorithms for the computation of equilibria in large scale models and
applying these algorithms to macroeconomic policy analysis.