Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/230383
Authors: 
Veracierto, Marcelo
Year of Publication: 
2020
Series/Report no.: 
Working Paper No. 2020-05
Abstract: 
This paper introduces a general method for computing equilibria with heteroge- neous agents and aggregate shocks that is particularly suitable for economies with private infor- mation. Instead of the cross-sectional distribution of agents across individual states, the method uses as a state variable a vector of spline coefficients describing a long history of past individual decision rules. Applying the computational method to a Mirrlees RBC economy with known ana- lytical solution recovers the solution perfectly well. This test provides considerable confidence on the accuracy of the method.
Subjects: 
Computational methods
heterogeneous agents
business cycles
private information
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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