Conditions for Asymptotic Stability in OLG and Growth Models

OLG 和增长模型中渐近稳定性的条件

• 批准号: 9012166
• 负责人: Gary Anderson
• 金额: $ 4.29万
• 依托单位: University of Maryland, College Park
• 依托单位国家: 美国
• 项目类别: Standard Grant
• 财政年份: 1990
• 资助国家: 美国
• 起止时间: 1990-08-15 至 1992-07-31
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=9012166&HistoricalAwards=false
• 关键词: Conditions; Asymptotic; Stability; OLG; Growth

Economists have long used overlapping generations and neoclassical growth models to explore important empirical and theoretical issues in public finance, development, international trade, savings and monetary policy. Recently, some researchers have attacked the way these models characterize the long run tendency of the economy. This project will study the mathematical equations which economists use to codify and apply these models and investigate the relationship between the empirically determined parameters and the corresponding long run properties of the models. Since the equations which codify the assumptions of the models can lead to bizarre behavior when these models are used in practice, the models could give misleading forecasts of the behavior of the economy. By applying state of the art computer programming techniques, formulae for characterizing the plausible ranges of parameters of interest will be developed. The concept of determinacy developed by Laitner and Anderson- Moore will be applied to identify fixed-point and limit cycles which possess stability properties that imply unique convergent trajectories from nearby points. The project will focus on discrete time models. Analytic expressions for specific utility and production functions will be developed when general formulae are unattainable. The asymptotic stability of these models will be investigated for empirically relevant ranges of model parameters in order to characterize the plausibility and relevance of the potentially complex asymptotic behavior when confronting real world data. The project will begin an investigation of the global convergence properties of these models with the objective of developing "higher order" turnpike theorems characterizing conditions guaranteeing convergence to limit cycles of a given periodicity.

长期以来，经济学家一直使用世代重叠的方法， 新古典增长模型，探讨重要的经验和 公共财政理论问题，发展，国际 贸易、储蓄和货币政策。最近，一些研究人员 已经攻击了这些模型描述长期的方式 经济的趋势。本项目将研究 经济学家用来编纂和应用的数学方程 这些模型并研究它们之间的关系 经验确定的参数和相应的长期 模型的属性。因为编码的方程 模型的假设可能会导致奇怪的行为， 模型在实践中使用，模型可能会产生误导 对经济行为的预测。通过应用状态 计算机编程技术， 表征感兴趣的参数的合理范围 将被开发。 由莱特纳和安德森提出的确定性概念- 摩尔将被应用于确定不动点和极限环 它具有稳定的性质，意味着唯一的收敛 从附近的点的轨迹。该项目将侧重于 离散时间模型特定效用的解析表达式 和生产函数将开发时，一般公式 是无法实现的。这些模型的渐近稳定性将 研究模型的经验相关范围 参数，以表征可扩展性， 潜在复杂渐近行为的相关性， 面对真实的世界数据。 该项目将开始一个 研究这些算法的全局收敛性 以发展“高阶”收费公路为目标的模式 刻画保证收敛到的条件的定理 给定周期的极限环。