| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6068 |
| DP6068 Institutions, Infrastructure and Trade | |
| Joseph Francois; Miriam Manchin | |
| 发表日期 | 2007-01-23 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | A new algorithm is developed to solve models with heterogeneous agents and aggregate uncertainty that avoids some disadvantages of the prevailing algorithm that strongly relies on simulation techniques and is easier to implement than existing algorithms. A key aspect of the algorithm is a new procedure that parameterizes the cross-sectional distribution, which makes it possible to avoid Monte Carlo integration. The paper also develops a new simulation procedure that not only avoids cross-sectional sampling variation but is also more than ten times faster than the standard procedure of simulating an economy with a large but finite number of agents. This procedure can help to improve the efficiency of the most popular algorithm in which simulation procedures play a key role. |
| 主题 | International Macroeconomics |
| 关键词 | Incomplete markets Numerical solution Projection method Simulation |
| URL | https://cepr.org/publications/dp6068 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534906 |
| 推荐引用方式 GB/T 7714 | Joseph Francois,Miriam Manchin. DP6068 Institutions, Infrastructure and Trade. 2007. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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