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General Equilibrium Models - Numerical Method and Stability

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Author Info
Antti Lappeteläinen
Abstract

Dynamic general equilibrium models are studied from a mathematical point of view. Study concentrates on conditions of optimality, stability and especially numerical solution algorithms. Models are also studied in respect of suitability for expanding the generational accounting method. In addition to Ramsey model two dynamic self-made models are presented, one of which uses the overlapping generations structure. Technological process is simulated with these models using various numerical methods. Also methods of analysing stability properties are presented and executed. At the end of the study several weaknesses of the general equilibrium analysis and suggestions how to overcome these weaknesses are discussed and a model structure suitable for expanding the generational accounting is presented.

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Paper provided by Government Institute for Economic Research (VATT) in its series VATT Research Reports with number 26.

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Date of creation: 01 Jan 1995
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Handle: RePEc:fer:resrep:26

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Related research
Keywords: Dynamic equilibrium models overlapping generations numerical methods stability.

Find related papers by JEL classification:
C68 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Computable General Equilibrium Models
D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models

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This page was last updated on 2008-7-29.


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