In 1953, Lloyd Shapley contributed his paper "Stochastic games" to PNAS. In this paper, he defined the model of stochastic games, which were the first general dynamic model of a game to be defined, and proved that it admits a stationary equilibrium. In this Perspective, we summarize the historical context and the impact of Shapley's contribution.

The design of China’s industrial carbon reduction policies is still in its early stages, so currently, comparing the effectiveness various emission can help China policies. This paper develops a dynamic stochastic general equilibrium (DSGE) model manufacturing industry and investigates impact innovation on environmental protection technology, emissions tax, government expenditures output indust...

The purpose of this article is to analyze the macroeconomic impacts of fiscal policy in Iran using a new-Keynesian Dynamic Stochastic General Equilibrium (DSGE) model. The model takes into account distortionary taxations on wage, dividend, and consumption, while government expenditures are broken down into consumption of goods and services, and investment. The model is calibrated for Iran based...

This study investigates monetary and financial shocks on macroeconomic variables, focusing on the role of banking intervention. For this purpose, a Keynesian dynamic stochastic general equilibrium (DSGE) model is designed for Iran’s economy that involves financial and banking sectors. The results of the model simulation show that the financial accelerator theory works in the Iranian economy. Al...