This paper reviews a framework for numerically analyzing dynamic interactions in
imperfectly competitive industries. The framework dates back to Ericson and Pakes [1995 …

Financial frictions are a central element of most of the models that the literature on emerging
markets crises has proposed for explaining the Sudden Stop'phenomenon. To date, few …

During the last 20 years, microsimulation models have been increasingly applied in
qualitative and quantitative analysis of public policies. This paper discusses microsimulation …

This paper proposes a dynamic politico‐economic theory of fiscal policy in a world
comprising a set of small open economies, whose driving force is the intergenerational …

In this paper we develop a projection algorithm to approximate equilibria in overlapping
generations economies with a large number of generations and stochastic aggregate …

We construct a life cycle model that delivers realistic behavior for both equity holdings and
borrowing. The key model ingredient is a wedge between the cost of borrowing and the risk …

We consider an infinite‐horizon exchange economy with incomplete markets and collateral
constraints. As in the two‐period model of Geanakoplos and Zame (2002), households can …

Variational inequality representations are set up for a general Walrasian model of
consumption and production with trading in a market. The variational inequalities are of …

Esta publicación recoge las contribuciones de los expertos que participaron en el encuentro
internacional del mismo nombre, celebrado con el apoyo de la Fundación BBVA. Durante …

Because of non‐traded human capital, real‐world financial markets are massively
incomplete, while the modeling of imperfect, dynamic financial markets remains a wide …