Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Economics
Indeterminacy, Nonparametric Calibration And Counterfactual Equilibria, Donald J. Brown, Ravi Kannan
Indeterminacy, Nonparametric Calibration And Counterfactual Equilibria, Donald J. Brown, Ravi Kannan
Cowles Foundation Discussion Papers
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.
The Computation Of Counterfactual Equilibria In Homothetic Walrasian Economies, Donald J. Brown, Ravi Kannan
The Computation Of Counterfactual Equilibria In Homothetic Walrasian Economies, Donald J. Brown, Ravi Kannan
Cowles Foundation Discussion Papers
We propose a nonparametric test for multiple calibration of numerical general equilibrium models, and we present an effective algorithm for computing counterfactual equilibria in homothetic Walrasian economies, where counterfactual equilibria are solutions to the Walrasian inequalities.