This note extends the finding of Benhabib and Rusticchini (1994) who provide a class of SDGE models, whose solution is characterized by a constant savings rate. We show that this class of models may be interpreted as a standard representative agent SDGE model with costly adjustment of capital...

Dieses Buch ist einem akademischen Lehrer und Forscher gewidmet, dessen Werk ein breites Spektrum aufweist, das sich entlang der Zeitachse merklich von rein ökonomischen hin zu ökologisch motivierten Fragestellungen verschoben hat. Joachim Klaus hat das Preisniveau in die postkeynesianische...

Many algorithms that provide approximate solutions for dynamic stochastic general equilibrium (DSGE) models employ the generalized Schur factorization since it allows for a flexible formulation of the model and exempts the researcher from identifying equations that give raise to infinite...

Klein (2000) advocates the use of the Schur decomposition of a matrix pencil to solve linear rational expectations (RE) models. Meanwhile his algorithm has become a center piece in several computer codes that provide approximate solutions to (non-linear) dynamic stochastic general equilibrium...