Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/30674
Authors: 
Wälde, Klaus
Year of Publication: 
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

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