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Solving The Discrete-Time Stochastic Ramsey Model

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Author Info
Chris Elbers () (VU University Amsterdam)

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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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Publisher 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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Related research
Keywords: Ramsey model; Stochastic Ramsey model; Solution methods;

Find related papers by JEL classification:
C61 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Optimization Techniques; Programming Models; Dynamic Analysis
E22 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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This page was last updated on 2009-11-26.

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