We propose using deep reinforcement learning to solve dynamic stochastic general equilibrium models. Agents are represented by deep artificial neural networks and learn to solve their dynamic optimisation problem by interacting with the model environment, of which they have no a priori knowledge. Deep reinforcement learning offers a flexible yet principled way to model bounded rationality within this general class of models. We apply our proposed approach to a classical model from the adaptive learning literature in macroeconomics which looks at the interaction of monetary and fiscal policy. We find that, contrary to adaptive learning, the artificially intelligent household can solve the model in all policy regimes.
翻译:我们建议利用深强化学习来解决动态随机一般平衡模式。代理人由深层人工神经网络代表,并学习通过与模型环境互动解决其动态优化问题,而模型环境是他们没有先天知识的。深强化学习为在这一总体模式类别中模拟界限合理性提供了灵活而有原则的方法。我们从宏观经济的适应性学习文献中将我们建议的方法应用到一个典型模式,该模式着眼于货币和财政政策的互动。我们发现,与适应性学习相反,人工智能家庭可以解决所有政策制度中的模式。