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Erscheinungsjahr: 
2008
Schriftenreihe/Nr.: 
Economics Working Paper Series No. 08/90
Verlag: 
ETH Zurich, CER-ETH - Center of Economic Research, Zurich
Zusammenfassung: 
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.
Schlagwörter: 
Computable general equilibrium
Overlapping generations
Microsimulation
Sequential recalibration
JEL: 
C68
C81
D61
D91
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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