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01367 am a22002053u 4500 |
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67034 |
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|a Rausch, Sebastian
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|a MIT Energy Initiative
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|a Rausch, Sebastian
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|a Rausch, Sebastian
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|a Rutherford, Thomas Fox
|e author
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|a Computation of Equilibria in OLG Models with Many Heterogeneous Households
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|b Springer Netherlands,
|c 2011-11-16T13:51:14Z.
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|z Get fulltext
|u http://hdl.handle.net/1721.1/67034
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|a This paper develops a decomposition algorithm by which a market economy with many households may be solved through the computation of equilibria for a sequence of representative agent economies. The paper examines local and global convergence properties of the sequential recalibration (SR) algorithm. The SR algorithm is then demonstrated to efficiently solve Auerbach-Kotlikoff OLG models with a large number of heterogeneous households. We approximate equilibria in OLG models by solving a sequence of related Ramsey optimal growth problems. This approach can provide improvements in both efficiency and robustness as compared with integrated complementarity-based solution methods.
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|a Alfried Krupp von Bohlen und Halbach Foundation
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|a en_US
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|a Article
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|t Computational Economics
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