动态随机一般均衡
工具箱
一致性(知识库)
计算机科学
非线性系统
经济
不完全市场
数学优化
计量经济学
数理经济学
数学
货币政策
宏观经济学
微观经济学
人工智能
物理
程序设计语言
量子力学
作者
Dân Cao,Wenlan Luo,Guangyu Nie
标识
DOI:10.1016/j.red.2023.01.001
摘要
We introduce our GDSGE framework and a novel global solution method, called simultaneous transition and policy function iterations (STPFIs), for solving dynamic stochastic general equilibrium models. The framework encompasses many well-known incomplete markets models with highly nonlinear dynamics such as models of financial crises and models with rare disasters including the current COVID-19 pandemic. Using consistency equations, our method is most effective at solving models featuring endogenous state variables with implicit laws of motion such as wealth or consumption shares. Finally, we incorporate this method in an automated and publicly available toolbox that solves many important models in the aforementioned topics, and in many cases, more efficiently and/or accurately than their original algorithms.
科研通智能强力驱动
Strongly Powered by AbleSci AI