You, Too, Could be Doing This

Arnold Kling

By Arnold Kling, Jun 2 2009

From the abstract of a recent NBER working paper:

we solve the stochastic neoclassical growth model with recursive preferences using four different approaches: second- and third-order perturbation, Chebyshev polynomials, and value function iteration.

These computations tell us ~~how many angels can dance on the head of a pin~~ about the properties of a class of macroeconomic models called Dynamic Stochastic General Equilibrium (DSGE).

If you want to get tenure, you too, should be doing this sort of research.

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You, Too, Could be Doing This

Arnold Kling

From the abstract of a recent NBER working paper: we solve the stochastic neoclassical growth model with recursive preferences using four different approaches: second- and third-order perturbation, Chebyshev polynomials, and value function iteration. These computations tell us how many angels can dance on the head of...

You, Too, Could be Doing This

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