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Endogenous Cycles in Competitive Models: An Overview
Reichlin, Pietro - In: Studies in Nonlinear Dynamics & Econometrics 1 (2007) 4, pp. 175-185
It is a common assertion that, in a world with perfect markets and rational expectations, endogenous cycles could only arise under very unrealistic assumptions. This paper offers a short discussion on this claim and a review of the relevant contributions to the literature on deterministic...
Persistent link: https://www.econbiz.de/10004966210
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Endogenous Cycles in Competitive Models: An Overview
Reichlin, Pietro - In: Studies in Nonlinear Dynamics & Econometrics 1 (1997) 4, pp. 175-185
It is a common assertion that, in a world with perfect markets and rational expectations, endogenous cycles could only arise under very unrealistic assumptions. This paper offers a short discussion on this claim and a review of the relevant contributions to the literature on deterministic...
Persistent link: https://www.econbiz.de/10005046491
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КОНКУРЕНТНОЕ РАВНОВЕСИЕ НА ФИНАНСОВОМ РЫНКЕ
АЛЕКСАНДРОВИЧ, ГОРЕЛОВ МИХАИЛ - In: Управление большими … (2008) 3, pp. 110-125
Предлагается модель формирования цен на финансовом рынке при несовпадающих ожиданиях участников торгов. Доказывается существование цен, балансирующих спрос и...
Persistent link: https://www.econbiz.de/10011226907
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On Derivatives Markets and Social Welfare: A Theory of Empty Voting and Hidden Ownership
Hatfield, John; Kominers, Scott Duke; Barry, Jordan M. - Becker Friedman Institute for Research in Economics, … - 2012
In the past twenty-five years, derivatives markets have grown exponentially. Large, modern derivatives markets increasingly enable investors to hold economic interests in corporations without owning voting rights, and vice versa. This leads to both empty voters — investors whose voting...
Persistent link: https://www.econbiz.de/10010891163
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Walrasian prices in markets with tradable rights
Hervés-Beloso, Carlos; Martínez, Francisco; Rivera, Jorge - In: Economic Theory 49 (2012) 2, pp. 497-512
Persistent link: https://www.econbiz.de/10010993597
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Private ownership economies with externalities and existence of competitive equilibria: A differentiable approach
Mercato, Elena L. del; Platino, Vincenzo - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2015
We consider a general equilibrium model of a private ownership economy with consumption and production externalities …. Fixing the externalities, the assumptions on utility functions and production technologies are standard in a differentiable … externalities is non trivial and it requires some ingenious adjustments, because the production technologies are not required to be …
Persistent link: https://www.econbiz.de/10011268204
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Numerical Simulation of Nonoptimal Dynamic Equilibrium Models
Feng, Zhigang; Miao, Jianjun; Peralta-Alva, Adrian; … - Department of Economics, Boston University
operator as well as the convergence of the moments of simulated sample paths. We apply our numerical algorithm to two growth …
Persistent link: https://www.econbiz.de/10008545851
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Problems in the Numerical Simulation of Models with Heterogeneous Agents and Economic Distortions
Alva, Adrian Peralta -; Santos, Manuel S. - Department of Economics, School of Business - 2009
Our work has been concerned with the numerical simulation of dynamic economies with heterogeneous agents and economic distortions. Recent research has drawn attention to inherent difficulties in the computation of competitive equilibria for these economies: A continuous Markovian solution may...
Persistent link: https://www.econbiz.de/10008472146
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Externalities, consumption constraints and regular economies
Bonnisseau, Jean-Marc; Mercato, Elena L. Del - HAL - 2008
We consider a general model of pure exchange economies with consumption externalities. Households may have different …
Persistent link: https://www.econbiz.de/10010738576
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Externalities, consumption constraints and regular economies
Bonnisseau, Jean-Marc; Mercato, Elena - In: Economic Theory 44 (2010) 1, pp. 123-147
Persistent link: https://www.econbiz.de/10008486598