Indeterminacy, Nonparametric Calibration and Counterfactual Equilibria

We propose a nonparametric approach to multiple calibration of numerical general equilibrium models, where counterfactual equilibria are solutions to the Walrasian inequalities. We present efficient approximation schemes for deciding the solvability of Walrasian inequalities.

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Year of publication:	2003-06
Authors:	Brown, Donald J. ; Kannan, Ravi
Institutions:	Cowles Foundation for Research in Economics, Yale University
Subject:	Applied general equilibrium analysis \| Walrasian inequalities \| O-minimal structures \| Monte Carlo algorithms

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Extent:	application/pdf
Series:	Cowles Foundation Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	The price is None Number 1426 16 pages
Classification:	C62 - Existence and Stability Conditions of Equilibrium ; C63 - Computational Techniques ; D51 - Exchange and Production Economies ; D58 - Computable and Other Applied General Equilibrium Models
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005762745