equilibrium is unique if the income process is AR(1), but not necessarily so otherwise. With Gaussian shocks, I provide general … equilibrium …

. The framework dates back to Ericson and Pakes [1995. Review of Economic Studies 62, 53–82], but it is based on equilibrium … start with an introduction to iterative techniques for computing equilibrium that are analogous to the techniques used to … computational burden of these techniques, and the mechanism implicitly used to select an equilibrium when multiple equilibria are …

equilibrium model and rely on arguments from convex analysis. This methodology does not only give rise to a convergent iterative …

This paper investigates the learnability of an equilibrium where agents formulate their forecasts under adaptive … learning with heterogeneously misspecified econometric models; the equilibrium is called a Heterogeneous Misspecification … Equilibrium (HME). The paper finds that the learnability condition of the HME is equal to or less than the condition of the …

establishes the existence of sequential competitive equilibrium, generalized recursive equilibrium, recursive equilibrium with an … extended-state space, and characterizes several important properties of the equilibrium variables. The equilibrium process … shocks such as Huggett (1997)'s economy. However, the existence of recursive equilibrium with the natural minimal state space …

Nash equilibrium and implied invariant distribution in a class of intergenerational paternalistic altruism models with … tools for rigorous analysis of Markov stationary equilibrium on minimal state spaces for overlapping generations with …

admissible prices. We introduce a new equilibrium concept, called quantity constrained equilibrium (QCE), giving a unified …. Moreover, the set contains for every commodity a generalized Dreze equilibrium, being a QCE at which for that commodity no … binding trade opportunities on both supply and demand are expected, and also a generalized supply-constrained equilibrium at …