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Title:Production technologies in stochastic continuous time models PDF Logo
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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