Indeterminacy, Nonparametric Calibration and Counterfactual Equilibria
17 Pages Posted: 13 Jun 2003
Date Written: June 2003
We propose a nonparametric approach to multiple calibration of numerical general equilibrium models, where counterfactual equilibria are solutions to the Walrasian inequalities. We present efficient approximation schemes for deciding the solvability of Walrasian inequalities.
Keywords: Applied General Equilibrium Analysis, Walrasian Inequalities, O-minimal Structures, Monte Carlo Algorithms
JEL Classification: C62, C63, D51, D58
Suggested Citation: Suggested Citation
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By Felix Kubler