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Handbook of Computational Economics by Kenneth L. Judd, Karl Schmedders

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Chapter 6

Solving and Simulating Models with Heterogeneous Agents and Aggregate Uncertainty

Yann Algana, Olivier Allaisb, Wouter J. Den Haanc, d and Pontus Rendahle,    aSciences Po, Paris, France,    bINRA, UR1303 ALISS, Ivry-sur-Seine, France,    cCentre for Macroeconomics, London School of Economics, London, UK,    dCEPR, London, UK,    eCentre for Macroeconomics, University of Cambridge, Cambridge, UK,    a yann.algan@ens.fr,    b olivier.allais@ivry.inra.fr,    d wdenhaan@uva.nl,    e prendahl@ucdavis.edu

Abstract

Although almost nonexistent 15 years ago, there are now numerous papers that analyze models with both aggregate uncertainty and a large number—typically a continuum—of heterogeneous agents. These models make it possible to study ...

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