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On non-computability of dynamic stochastic general equilibrium

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  • Glaciel, William

Abstract

As can be seen in Richter and Wong (1999), non-computability of general equilibrium has been recognized in economics. However, despite general non-computability, equilibrium can indeed be computed in specific cases. In this paper, further restriction on computability of equilibrium is provided in contexts of dynamic stochastic general equilibrium (DSGE) models with heterogeneous agents, demonstrating that non-computability concerns apply more generally than often understood.

Suggested Citation

  • Glaciel, William, 2020. "On non-computability of dynamic stochastic general equilibrium," OSF Preprints 23ep9, Center for Open Science.
    • Handle: RePEc:osf:osfxxx:23ep9
    DOI: 10.31219/osf.io/23ep9
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    References listed on IDEAS

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    1. Kam-Chau Wong & Marcel K. Richter, 1999. "Non-computability of competitive equilibrium," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 14(1), pages 1-27.
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