Simple OLG Model Explained with Numerical Example in MATLAB

Josheski, Dushko and Risteska, Aneta and Spaseska, Tatjana (2018) Simple OLG Model Explained with Numerical Example in MATLAB. IX Internatonal Balkan and Near Eastern Social Sciences Congress Series.

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Abstract

In this paper it is been made an attempt to map the global OLG models and afterwards to draw phase diagrams for the baseline OLG models, namely by simulating the Diamond (1965) capital accumulation simple OLGmodel. First it is discussed the issue of optimality in OLG models, then the general framework of the models is being mapped, with the issue of overaccumulation in OLG models. In the next section this paper presents dynamic general equilibrium analysis of an overlapping generations models in which each individual lives in two periods lifecycle. This represents the simplest of OLG models. An overlapping generations model is an applied DGE model for which the lifecycle models are applied. In the applied part benchmark models has been compared to, model with parameters that generate poverty traps and multiple equilibria. Keywords: OLG models, DGE models, MATLAB codes for OLG, simplest OLG model, poverty traps and multiple equilibria OLG models

Item Type: Article
Subjects: Scientific Fields (Frascati) > Social Sciences > Economics and Business
Divisions: Faculty of Economics
Depositing User: Mr Dimitar Risteski
Date Deposited: 05 Mar 2020 11:31
Last Modified: 05 Mar 2020 11:31
URI: http://eprints.uklo.edu.mk/id/eprint/3856

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