OLG-CGE modelling

Publication date: 3 Mar 2016 | Publication type: NIESR Discussion Paper | Theme: Macroeconomics | Authors: Lisenkova, K | External authors: Georges, P, Merette, M, Zhang, Q | JEL classification: E17, F17, J11
It is generally accepted that people prefer to receive reward earlier rather than later. A positive rate of time preference is routinely used in economic models of intertemporal choice, for example OLG-CGE models. Calibrating an OLG-CGE model is challenging because age-profile data is usually not...