Solving the incomplete markets model with aggregate uncertainty using the Krusell-Smith algorithm

1. Maliar, Lilia
2. Maliar, Serguei
3. Valli, Fernando

Exporter

Exporter

×

MLA

modern-language-association

APA

apa

Chicago

chicago-fullnote-bibliography

Harvard

harvard-cite-them-right

Vancouver

vancouver-author-date

---

RIS BibTex

Exporter

×

Le document ne peut pas être exporté car il appartient à un autre portail.

Texte intégral

lock_openTexte intégral externo

DIALNET GOOGLE SCHOLAR lock_openAccès ouvert editor

Résumé

This paper studies the properties of the solution to the heterogeneous agents model in Den Haan, Judd and Juillard (2008). To solve for the individual policy rules, we use an Euler-equation method iterating on a grid of prespecified points. To compute the aggregate law of motion, we use the stochastic-simulation approach of Krusell and Smith (1998). We also compare the stochastic- and non-stochasticsimulation versions of the Krusell-Smith algorithm, and we find that the two versions are similar in terms of their speed and accuracy.

La source de données: Dialnet