Banking in computable general equilibrium economies

Article Abstract:

A model of a computable general equilibrium economy focusing on the banking sector was developed. The model presents banks as intermediaries between households and between household and government sectors. Households borrow from and save in banks for their financial needs while banks use these savings for government and reserve purchases. The model analyzes monetary and tax policy welfare costs and examines interest rate policy effects.

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Stochastic equilibrium: learning by exponential smoothing

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The authors develop mathematical tools to analyze stochastic learning for equilibrium behavior and ergodicity.

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A solution method for consumption decisions in a dynamic stochastic general equilibrium model

Article Abstract:

The consumer's life-cycle problem is provided with a numerical solution based on value function iteration.

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