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Solving The Discrete-Time Stochastic Ramsey Model

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  • Chris Elbers

    (VU University Amsterdam)

Abstract

This note describes methods for solving deterministic and stochastic versions of the discrete-time Ramsey model of economic growth. We derive an iterative procedure for solving the Euler equation and apply it to an example adapted from Pan (2007).

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File URL: http://papers.tinbergen.nl/09018.pdf
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Bibliographic Info

Paper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 09-018/2.

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Date of creation: 20 Feb 2009
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Handle: RePEc:dgr:uvatin:20090018

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Web page: http://www.tinbergen.nl

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Keywords: Ramsey model; Stochastic Ramsey model; Solution methods;

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