Problems in the Numerical Simulation of Models with Heterogeneous Agents and Economic Distortions
研究了异质性主体动态经济中竞争均衡计算的固有困难，包括马尔可夫解的存在性、算法准确性及收敛性，并讨论了Feng等人(2009)的可靠算法。
Our work has been concerned with the numerical simulation of dynamic economies with heterogeneous agents and economic distortions. Recent research has drawn attention to inherent difficulties in the computation of competitive equilibria for these economies: A continuous Markovian solution may fail to exist, and some commonly used numerical algorithms may not deliver accurate approximations. We consider a reliable algorithm set forth in Feng et al. (2009), and discuss problems related to the existence and computation of Markovian equilibria, as well as convergence and accuracy properties. We offer new insights into numerical simulation.