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Type | Journal Article |
Scope | Discipline-based scholarship |
Title | Efficient calculation of all steady states in large-scale over-lapping generations models |
Organization Unit | |
Authors |
|
Item Subtype | Original Work |
Refereed | Yes |
Status | Published in final form |
Language |
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Journal Title | Journal of mathematics and modeling in finance |
Publisher | Allameh Tabataba'i University Press |
Geographical Reach | international |
ISSN | 2783-0578 |
Volume | 3 |
Number | 1 |
Page Range | 15 - 48 |
Date | 2023 |
Abstract Text | In this paper, we address the problem of analyzing and computing all steady states of an overlapping generation (OLG) model with production and many generations. The characterization of steady states coincides with a geometrical representation of the algebraic variety of a polynomial ideal, and, in principle, one can apply computational algebraic geometry methods to solve the problem. However, it is infeasible for standard methods to solve problems with a large number of variables and parameters. Instead, we use the specific structure of the economic problem to develop a new algorithm that does not employ the usual steps for the computation of Gröbner basis such as the computation of successive S-polynomial and expensive division. |
Digital Object Identifier | 10.22054/JMMF.2023.71545.1083 |
PDF File | Download from ZORA |
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Keywords | OLG Model, Equilibria, Gröbner Bases |