We[1] present estimates of the Elasticity of Intertemporal Substitution (EIS) for Iranian households using synthetic cohort panels based on household micro-data. Results show significant difference with the common values used in Dynamic Stochastic General Equilibrium (DSGE) models which are originally based on estimated values for developed countries. We show that this difference has important ...

Empirical evidence indicates that environmental fluctuations have important effects on fisheries production. However, existing analytical solutions of stochastic fisheries models have been produced only under highly simplified economic and biological conditions. The main contribution of this paper is to derive under general conditions a policy function for the management of a stochastic fishery...

This paper presents novel algorithms for nding the singular value decomposition (SVD) of a general covariance matrix by stochastic approximation. General in the sense that also non-square, between sets, covariance matrices are dealt with. For one of the algorithms, convergence is shown using results from stochastic approximation theory. Proofs of this sort, establishing both the point of equili...

We investigate sample average approximation of a general class of onestage stochastic mathematical programs with equilibrium constraints. By using graphical convergence of unbounded set-valued mappings, we demonstrate almost sure convergence of a sequence of stationary points of sample average approximation problems to their true counterparts as the sample size increases. In particular we show ...