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"The limitations of available migration data preclude a time-series approach of modeling interstate migration [in the United States]. The method presented here combines aspects of the demographic and economic approaches to forecasting migration in a manner compatible with existing data. Migration rates are modeled to change in response to changes in(More)
We use a distributed parallel genetic algorithm (DPGA) to nd numerical solutions to a single state deterministic optimal growth model for both the innnite and nite horizon cases. To evaluate the DPGA we consider a version of the Taylor-Uhlig problem for which we know the analytical solutions. The rst-order conditions for the innnite horizon case lead to a(More)
We examine market dynamics in a discrete-time, Lucas-style asset-pricing model with heterogeneous , utility-optimizing agents. Finitely many agents trade a single asset paying a stochastic dividend. All agents know the probability distribution of the dividend but not the private information such as wealth and asset holdings of other agents. The market(More)
We study a simple model based upon the Lucas framework where heterogeneous agents behave rationally in a fully intertemporal setting but do not know other investors' personal preferences, wealth or investment portfolios. As a consequence , agents initially do not know the equilibrium asset pricing function and must make guesses which they update via(More)
We examine market dynamics in a discrete-time, Lucas-style asset-pricing model with heterogeneous, utility-optimizing agents. Finitely many agents trade a single asset paying a stochastic dividend, and know the probability distribution of the dividend but not the private information of other agents. The market clearing price is determined endogenously in(More)
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