Search Results - subject:"dynamic stochastic"

Health Care Financing over the Life Cycle, Universal Medical Vouchers and Welfare

Jung, Juergen; Tran, Chung - Department of Economics, Towson University - 2010

In this paper we develop a general equilibrium overlapping generations (OLG) model with health shocks to analyze the life-cycle pattern of insurance choice and health care spending. We use data from the Medical Expenditure Panel Survey (MEPS) and show that our model is able to match the...

Persistent link: https://www.econbiz.de/10008512088

Assessing the Impacts of Single Farm Payments on Farm Investment and Output in French Arable Farms: a Dynamic Stochastic Farm Household Model with Debt Constraints

Mary, Sebastien - Agricultural Economics Society - AES - 2010

dynamic stochastic farm household model with occasionally binding debt constraints and investment adjustment costs. The …

Persistent link: https://www.econbiz.de/10008489945

Are R&D subsidies provided optimally? Evidence from a simulated agency-firm stochastic dynamic game

Cerulli, Giovanni - Istituto di Ricerca sulla Crescita Economica … - 2010

By means of a simulated funding-agency/supported-firm stochastic dynamic game, this paper firstly shows that not only the level of R&D performed by firms is underprovided (as maintained by traditional literature on the subject), but also the level of the subsidy provided by the funding (public)...

Persistent link: https://www.econbiz.de/10009200944

The Great Increase in Relative Volatility of Real Wages in the United States

Champagne, Julien; Kurmann, André - Centre Interuniversitaire sur le Risque, les Politiques … - 2010

. Using a Dynamic Stochastic General Equilibrium (DSGE) model, we show that the observed increase in relative wage volatility …

Persistent link: https://www.econbiz.de/10008615255

A theory of regular Markov perfect equilibria in dynamic stochastic games: genericity, stability, and purification

Doraszelski, Ulrich; Escobar, Juan - In: Theoretical Economics 5 (2010) 3

This paper studies generic properties of Markov perfect equilibria in dynamic stochastic games. We show that almost all … dynamic stochastic games have a finite number of locally isolated Markov perfect equilibria. These equilibria are essential … regularity for dynamic stochastic games and exploit a simple connection between normal form and dynamic stochastic games. …

Persistent link: https://www.econbiz.de/10008562484

Market Inefficiency, Insurance Mandate and Welfare: U.S. Health Care Reform 2010

Jung, Juergen; Tran, Chung - School of Economics, UNSW Business School - 2010

In this paper we develop a stochastic dynamic general equilibrium overlapping generations (OLG) model with endogenous health capital to study the macroeconomic effects of the Affordable Care Act of March 2010 also known as the Obama health care reform. We find that the insurance mandate enforced...

Persistent link: https://www.econbiz.de/10008853067

On approximating DSGE models by series expansions

Lombardo, Giovanni - European Central Bank - 2010

We show how to use a simple perturbation method to solve non-linear rational expectation models. Drawing from the applied mathematics literature we propose a method consisting of series expansions of the non-linear system around a known solution. The variables are represented in terms of their...

Persistent link: https://www.econbiz.de/10008694057

On approximating DSGE models by series expansions

Lombardo, Giovanni - 2010

Persistent link: https://www.econbiz.de/10011605310

TROPICAL" REAL BUSINESS CYCLES? A BAYESIAN EXPLORATION"

FERNÁNDEZ, ANDRÉS - In: ENSAYOS SOBRE POLÍTICA ECONÓMICA (2010)

Can frictionless small open economy models drivensolely by technology shocks account for businesscycles in developing countries? We do not find evidenceof it. We build a DSGE model that jointly includesa variety of real perturbations in addition totechnology shocks, such as procyclical fiscal...

Persistent link: https://www.econbiz.de/10009003248

Medium Term Business Cycles in Developing Countries

Comin, Diego; Loayza, Norman; Pasha, Farooq; Servén, Luis - 2010

We build a two country asymmetric DSGE model with two features: (i) endogenous and slow diffusion of technologies from the developed to the developing country, and (ii) adjustment costs to investment flows. We calibrate the model to match the Mexico-U.S. trade and FDI flows. The model is able to...

Persistent link: https://www.econbiz.de/10014046094