Recursive Methods in Discounted Stochastic Games: An Algorithm for delta Approaching 1 and a Folk Theorem [PDF]
We present an algorithm to compute the set of perfect public equilibrium payoffs as the discount factor tends to one for stochastic games with observable states and public (but not necessarily perfect) monitoring when the limiting set of (long-run ...
Johannes Horner +3 more
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Time-consistent Fiscal Policy under Heterogeneity: Conflicting or Common Interests? [PDF]
This paper studies the aggregate and distributional implications of Markov-perfect tax-spending policy in a neoclassical growth model with capitalists and workers.
Apostolis Philippopoulos +2 more
core +3 more sources
Markov-Perfect Optimal Fiscal Policy: The Case of Unbalanced Budgets [PDF]
We study optimal income taxation and public debt policy in a neoclassical economy populated by infinitely-lived households and a benevolent government. The government makes sequential decisions on the provision of a valued public good, on income taxation
Joana Pereira, Salvador Ortigueira
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A Differential Game Model of Tariff War [PDF]
We present a simple two(-country) by two(-good) differental game model of international trade in which the governments of the two countries play a tariff-setting game.
Koji Shimomura +2 more
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On the Existence of Markov Perfect Equilibria in Perfect Information Games [PDF]
We study the existence of pure strategy Markov perfect equilibria in two-person perfect information games. There is a state space X and each period player's possible actions are a subset of X.
Hannu Salonen, Hannu Vartiainen
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Transfers versus Public Investment: The Politics of Intergenerational Redistribution and Growth [PDF]
In this paper we analyze tax and transfer choices in an OLG economy with capital accumulation and endogenous growth coming from public investment, such as education.
Dirk Niepelt, Martin Gonzalez-Eiras
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The timing of capacity expansion investments in oligopoly under demand uncertainty [PDF]
, 2007 Since a flexibility value emerges in waiting to expand capacity, the impact of demand uncertainty in an oligopolistic industry leads to capacity expansion timing.
Arrieta Paredes, Mary-Paz
core +1 more source
Intergenerational interactions in human capital accumulation [PDF]
We analyze an economy populated by a sequence of generations who decide over their consumption and investment in human capital of their immediate descendants.
Jakub Growiec, Lukasz Wozny
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The Dynamics of Retail Oligopolies [PDF]
Dynamic Models, Retail Indusry, Markov perfect equilibrium ...
Beresteanu Arie, Paul Ellickson
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Equilibrium Times for the Multicanonical Method
, 2004 This work measures the time to equilibrium for the multicanonical method on the 2D-Ising system by using a new criterion, proposed here, to find the time to equilibrium, teq, of any sampling procedure based on a Markov process.
Berg B. A. +6 more
core +2 more sources