TY  - BOOK
AU  - McGovern,Jaime
AU  - Morand,Olivier F.
AU  - Reffet,Kevin
TI  - Computing minimal state space recursive equilibrium in OLG models with stochastic production
SN  - 09382259
AV  - HB119 ECO 
PY  - 2013///
CY  - Berlin
PB  - Springer
KW  - Recursive equilibrium
KW  - Stationary Markov equilibrium
KW  - Equilibrium computation
N2  - Using order-theoretic methods, we derive sufficient conditions for the existence, characterization, and computation of minimal state space recursive equilibrium (RE), as well as Stationary Markov equilibrium (SME) for various classes of stochastic overlapping generations models. In contrast to previous work, our methods focus on constructive methods. Our existence results are obtained for models that include public policy (e.g., social security policies, transfers, taxes, etc), production nonconvexities, elastic labor supply, non-monotone income processes, and long-lived agents. We distinguish conditions under which there exist various subclasses of minimal state space RE, including bounded, monotone, non-monotone, semicontinuous, Lipschitz continuous RE. Finally, we provide monotone equilibrium comparative statics results on the space of economies for some RE
UR  - https://doi.org/10.1007/s00199-012-0728-9
ER  -