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Contribution Details

Type Journal Article
Scope Discipline-based scholarship
Title Efficient Calculation of all Steady States in large-scale overlapping generations models
Other Titles Efficient calculation of all steady states in large-scale over-lapping generations models
Organization Unit
Authors
  • Monireh Riahi
  • Felix Kübler
  • Abdolali Basiri
  • Sajjad Rahmany
Item Subtype Original Work
Refereed Yes
Status Published in final form
Language
  • English
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 Grobner basis such as the computation of successive S-polynomial and expensive division.
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Digital Object Identifier 10.22054/jmmf.2023.71545.1083
Other Identification Number merlin-id:23696
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Keywords OLG Model, Equilibria, Grobner Bases