We present a new way to solve generalized Nash equilibrium problems. We assume the feasible set to be compact. Furthermore all functions are assumed to be polynomials. However we do not impose convexity on either the utility functions or the action sets. The key idea is to use Putinar’s...

We present a new way to solve generalized Nash equilibrium problems. We assume the feasible set to be compact. Furthermore all functions are assumed to be polynomials. However we do not impose convexity on either the utility functions or the action sets. The key idea is to use Putinar’s...

This paper studies monetary policy in a New Keynesian model with persistent supply shocks, that is, sustained increases in production costs due to factors such as wars or geopolitical fragmentation. First, we demonstrate that Taylor rules fail to stabilize long-term inflation due to endogenous...

We present a new way to solve generalized Nash equilibrium problems. We assume the feasible set to be compact. Furthermore all functions are assumed to be polynomials. However we do not need any convexity assumptions on either the utility functions or the action sets. The key idea is to use...

In this paper we look at a new way to combine both quantity precommitment and price competition in a dynamic games framework. In each period players choose to invest in production capacities for the next period and also engage in a price competition. Production is free up to capacity and has...

We propose a generic computational framework for solving large-scale infinite-horizon, discrete-time dynamic incentive problems with persistent hidden types. First, we combine set-valued dynamic programming techniques with unsupervised machine learning to determine irregularly-shaped feasible...