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Solving dynamic macroeconomic policy games using the algorithm OPTGAME 1.0

机译:使用OPTGAME 1.0算法解决动态宏观经济政策博弈

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In this paper we briefly summarise the OPTGAME 1.0 algorithm, which has been developed to determine equilibrium solutions of dynamic games in discrete time. It can be applied to obtain approximate numerical solutions for two-player difference games where the objective functions are quadratic and the dynamic system is non-linear. The non-linear system equations are linearized numerically, substituting a linear time-varying system for the non-linear time-invariant system. OPTGAME 1.0 delivers open-loop and feedback Nash equilibrium solutions, open-loop and feedback Stackelberg equilibrium solutions, and Pareto-optimal solutions. The algorithm has been implemented in the statistical programming system GAUSS. We report about tentative applications of OPTGAME 1.0 to a small macroeconometric model for Austria, AUSTRIA, to show the feasibility of the calculations and to give examples of how to interpret their results.
机译:在本文中,我们简要概述了OPTGAME 1.0算法,该算法已开发用于确定离散时间内动态博弈的平衡解。它可用于获得目标函数为二次方且动态系统为非线性的两人差异游戏的近似数值解。将非线性系统方程数字化,将线性时变系统替换为非线性时不变系统。 OPTGAME 1.0提供开环和反馈纳什均衡解,开环和反馈Stackelberg均衡解以及帕累托最优解。该算法已在统计编程系统GAUSS中实现。我们报告了OPTGAME 1.0在奥地利的小型宏观计量经济学模型AUSTRIA上的初步应用,以显示计算的可行性并提供如何解释其结果的示例。

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