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Neoclassical Growth and Commodity Trade
Cuñat, Alejandro; Maffezzoli, Marco - C.E.P.R. Discussion Papers - 2002
We construct and numerically solve a dynamic Heckscher-Ohlin model in which the initial distribution of production factors in the world makes worldwide factor price equalization impossible, and leads countries to group in two diversification cones. We study the dynamics of income per capita and...
Persistent link: https://www.econbiz.de/10005504435
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Solving Heterogeneous-Agent Models with Parameterized Cross-Sectional Distributions
Algan, Yann; Allais, Olivier; Den Haan, Wouter - C.E.P.R. Discussion Papers - 2007
disadvantages of the prevailing algorithm that strongly relies on simulation techniques and is easier to implement than existing … possible to avoid Monte Carlo integration. The paper also develops a new simulation procedure that not only avoids cross … finite number of agents. This procedure can help to improve the efficiency of the most popular algorithm in which simulation …
Persistent link: https://www.econbiz.de/10005114163
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The Choice of Exchange Rate Regime in Developing Countries: A Multinational Panel Analysis
von Hagen, Jürgen; Zhou, Jizhong - C.E.P.R. Discussion Papers - 2004
-effects multinomial panel models are estimated using simulation-based techniques. Explanatory variables include OCA fundamentals …
Persistent link: https://www.econbiz.de/10005789054