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Regular infinite economies
Covarrubias, Enrique - 2010
The main contribution of this paper is to place smooth infinite economies in the setting of the equilibrium manifold and the natural projection map à la Balasko. We show that smooth infinite economies have an equilibrium set that has the structure of a Banach manifold and that the natural...
Persistent link: https://www.econbiz.de/10003962133
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The number of equilibria of smooth infinite economies
Covarrubias, Enrique - 2011
We construct an index theorem for smooth infinite economies that shows that generically the number of equilibria is odd. As a corollary, this gives a new proof of existence and gives conditions that guarantee global uniqueness of equilibria. -- Uniqueness ; determinacy ; equilibria ; infinite...
Persistent link: https://www.econbiz.de/10009127582
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The equilibrium set of economies with a continuous consumption space
Covarrubias, Enrique - 2010
We study global properties of the equilibrium set of economies with a continuous consumption space. This framework is important in intertemporal allocation problems (continuous or infinite time), financial markets with uncertainty (continuous states of nature) and commodity differentiation. We...
Persistent link: https://www.econbiz.de/10010322578
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Regular infinite economies
Covarrubias, Enrique - 2010
The main contribution of this paper is to place smooth infinite economies in the setting of the equilibrium manifold and the natural projection map à la Balasko. We show that smooth infinite economies have an equilibrium set that has the structure of a Banach manifold and that the natural...
Persistent link: https://www.econbiz.de/10010322634
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The Equilibrium Set of Economies with a Continuous Consumption Space
Covarrubias, Enrique - Banco de México - 2010
We study global properties of the equilibrium set of economies with a continuous consumption space. This framework is important in intertemporal allocation problems (continuous or infinite time), financial markets with uncertainty (continuous states of nature) and commodity differentiation. We...
Persistent link: https://www.econbiz.de/10008523582
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On equilibrium prices in continuous time
Martins-da-Rocha, Victor Filipe (contributor);  … - 2008
We combine general equilibrium theory and théorie générale of stochastic processes to derive structural results about … equilibrium state prices. -- General equilibrium ; Continuous-time finance ; Théorie générale of stochastic processes ; Asset …
Persistent link: https://www.econbiz.de/10003729456
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Intertemporal equilibria with knightian uncertainty
Dana, Rose-Anne; Riedel, Frank - 2010
; General Equilibrium Theory ; No Trade …
Persistent link: https://www.econbiz.de/10008736535
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Determinacy of competitive equilibria in economies with many commodities
Shannon, Chris - In: Economic theory : official journal of the Society for … 14 (1999) 1, pp. 29-87
Persistent link: https://www.econbiz.de/10001396498
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Chapter 5 The Economic Theory of Gift-Giving: Perfect Substitutability of Transfers and Redistribution of Wealth
Mercier Ythier, Jean - In: Handbook of the economics of giving, altruism and …, (pp. 227-369). 2006
This chapter reviews the theory of the voluntary public and private redistribution of wealth elaborated by economic … analysis in the last forty years or so. The central object of the theory is altruistic gift-giving, construed as benevolent … voluntary redistribution of income or wealth. The theory concentrates on lump-sum voluntary transfers, individual or collective …
Persistent link: https://www.econbiz.de/10014023678
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Liquidity as an Investment Style
Ibbotson, Roger G. - 2013
We present comprehensive evidence in support of giving liquidity equal standing to size, value/growth, and momentum as investment styles, as defined by Sharpe (1992). First, we show that financial market liquidity, as identified by stock turnover, is an economically significant indicator of...
Persistent link: https://www.econbiz.de/10013093548