In this paper, I develop an applied general equilibrium environment with peer group effects. The application I consider … is schooling. The framework used here is general equilibrium with clubs. I establish the existence of equilibrium for the … continuum. The two welfare theorems are shown to hold for both economies. To compute the equilibrium, I construct a Negishi …

This paper demonstrates global stability of a competitive equilibrium in a multi-sector model of many firms, each of … equilibrium path. If a stationary equilibrium is locally asymptotically stable, then the continuity of the equilibrium path and … smoothness of a weight function on heterogeneous consumers imply that all equilibrium paths converge to the steady state. The …

We present a family of mechanisms which implement Lindahl allocations in Nash equilibrium. With quasilinear utility … functions this family of mechanisms are supermodular games, which implies that they converge to Nash equilibrium under a wide …

they have the same special status as asymptotic limits of other equilibrium paths. The difficulty in extending the analysis … forward equilibrium equations determinate. The properties of the resulting trajectories, in particular their asymptotic … show that the strongly stationary equilibrium is the unique equilibrium. For the model with zero dividends (money) there is …

equilibrium. …

also of the exogenous parameters of the economy as asset returns, preferences, and endowments. Thus locally the equilibrium … manifold, relating equilibrium prices to these parameters has also no structure. …