Computation of Equilibria in OLGModels with Many Heterogeneous Households

Arbeitspapier

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. SR 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 simultaneous solution methods.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Economics Working Paper Series ; No. 08/90

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Computable General Equilibrium Models ; Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access ; Allocative Efficiency; Cost-Benefit Analysis ; Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
• Thema: Computable general equilibrium ; Overlapping generations ; Microsimulation ; Sequential recalibration ; CGE-Modell ; Allgemeines Gleichgewicht ; Dekompositionsverfahren ; Overlapping Generations ; Theorie

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Rausch, Sebastian ; Rutherford, Thomas F.
• Ereignis: Veröffentlichung
• (wer): ETH Zurich, CER-ETH - Center of Economic Research
• (wo): Zurich
• (wann): 2008

Weitere Informationen

• DOI: doi:10.3929/ethz-a-005633188
• Handle: http://hdl.handle.net/10419/171533
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ