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Production Technologies in Stochastic Continuous Time Models

  • Klaus Wälde

Properties of dynamic stochastic general equilibrium models can be revealed by either using numerical solutions or qualitative analysis. Very precise and intuition-building results are obtained by working with models which provide closed-form solutions. Closed-form solutions are known for a large class of models some of which, however, have some undesirable features. This paper offers closed-form solutions for models which are just as tractable but do not suffer from these shortcomings.

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File URL: http://www.cesifo-group.de/portal/page/portal/DocBase_Content/WP/WP-CESifo_Working_Papers/wp-cesifo-2009/wp-cesifo-2009-10/cesifo1_wp2831.pdf
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Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 2831.

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Date of creation: 2009
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Handle: RePEc:ces:ceswps:_2831
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