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- W3166754493 abstract "This paper introduces a general method for computing equilibria with heterogeneous agents and aggregate shocks that is particularly suitable for economies with private information. Instead of the cross-sectional distribution of agents across individual states, the method uses as a state variable a vector of spline coefficients describing a long history of past individual decision rules. Applying the computational method to a Mirrlees RBC economy with known analytical solution recovers the solution perfectly well. This test provides considerable confidence on the accuracy of the method." @default.
- W3166754493 created "2021-06-22" @default.
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- W3166754493 date "2020-01-01" @default.
- W3166754493 modified "2023-09-27" @default.
- W3166754493 title "Computing Equilibria of Stochastic Heterogeneous Agent Models Using Decision Rule Histories" @default.
- W3166754493 doi "https://doi.org/10.21033/wp-2020-05" @default.
- W3166754493 hasPublicationYear "2020" @default.
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