Solving The Discrete-Time Stochastic Ramsey Model

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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Year of publication:	2009
Authors:	Elbers, Chris
Publisher:	Amsterdam and Rotterdam : Tinbergen Institute
Subject:	Optimales Wachstum \| Stochastisches Wachstumsmodell \| Theorie \| Ramsey model \| Stochastic Ramsey model \| Solution methods

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Series:	Tinbergen Institute Discussion Paper ; 09-018/2
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	838559220 [GVK] hdl:10419/86983 [Handle] RePEc:dgr:uvatin:20090018 [RePEc]
Classification:	C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; E22 - Capital; Investment (including Inventories); Capacity ; O41 - One, Two, and Multisector Growth Models
Source:	EconStor

Persistent link: https://www.econbiz.de/10010325968