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GAUSS code for an overlapping generations model with inelastic labor supply

Опубликовано на портале: 30-01-2003
Тематические разделы: Экономика, Экономика труда
Тип: Бесплатные

Overlapping generations model with inelastic labor supply. You may need to adapt the code for calls to external files. To understand the code, a good reading may be: Gary D. Hansen and Edward C. Prescott, Recursive Methods for Computing Equilibria of Business Cycle Models, Chapter 2 in: Thomas F. Cooley (ed.), Frontiers of Business Cycle Research, Princeton University Press, 1995.
Full text is available at IDEAS site
Authors extend the Hansen and Prescott (1991) method for the numerical computation of equilibria of dynamic business cycle models in which there are two sets of agents who play a dynamic Stackelberg game. Such models have application to analysis of issues of optimal government policy in which the government plays the role of Stackelberg leader and a representative private agent is the follower. They show how to derive time-consistent policy rules for the Stackelberg leader, and we consider an application of the methodology to the determination of optimal government spending in perfectly competitive growth model.