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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/30674
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| Title: | | Production technologies in stochastic continuous time models  |
| Authors: | | Wälde, Klaus |
| Issue Date: | | 2009 |
| Series/Report no.: | | CESifo working paper 2831 |
| 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. This paper offers closed-form solutions for models which are just as tractable but do not suffer from these shortcomings. |
| Subjects: | | dynamic stochastic general equilibrium models closed-form solution continuous time jump diffusion |
| JEL: | | E20 O40 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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