Production technologies in stochastic continuous time models
(2011) Journal of Economic Dynamics and Control — Vol. 35, n° 4, p. 616-622 (2011)
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- Authors
- Abstract
- Properties of dynamic stochastic general equilibrium models can be revealed by either using numerical solutions or qualitative analysis. Very precise and intuition-building results are obtained by working with models which provide closed-form solutions. Closed-form solutions are known for a large class of models some of which, however, have some undesirable features such as potentially negative output. This paper offers closed-form solutions for models which are just as tractable but do not suffer from these shortcomings. © 2010 Elsevier B.V.
- Affiliations
University of Mainz School of Management and Economics
Citations
Wälde, K. (2011). Production technologies in stochastic continuous time models. Journal of Economic Dynamics and Control, 35(4), 616-622. https://doi.org/10.1016/j.jedc.2010.10.005 (Original work published 2011)