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Evans, George W.; Honkapohja, Seppo - In: Handbook of macroeconomics : volume 1, part A, (pp. 449-542). 1999

approximation based on an associated differential equation. Global stability, local stability and instability results for SRAs are … presented. For a wide range of solutions to economic models the stability conditions for REE under statistical learning rules … are given by the expectational stability principle, which is treated as a unifying principle for the results presented …

Persistent link: https://www.econbiz.de/10014024243

Options and Sunspots in a Simple Monetary Economy

Antinolfi, Gaetano - 2012

We study sunspot immunity in a dynamic monetary economy in which consumers are allowed to trade put and call option contracts on the general price level. We define the concept of strong sunspot immunity to characterize economies that have no sunspot equilibria regardless of the number of...

Persistent link: https://www.econbiz.de/10013102999

Competitive Equilibria in Matching Models with Financial Constraints

Herings, P. Jean-Jacques - 2019

We consider the one-to-one two-sided matching with contracts model in which buyers face financial constraints. In this model there is a stable outcome, but not necessarily a competitive equilibrium as defined in the standard way. We propose a new equilibrium notion, quantity-constrained...

Persistent link: https://www.econbiz.de/10012872151

Informational Efficiency Properties of Rational Expectations Equilibria in Non-Convex Economies

Seccia, Giulio - 2001

A simple example shows that although non-convexities might prevent the existence of a fully revealing rational expectations equilibrium, they need not prevent the existence of a non-informative one. Indeed, the economy in this example does not possess any fully revealing equilibria, but does...

Persistent link: https://www.econbiz.de/10014150867

Market design and the stability of general equilibrium

Goeree, Jacob K.; Lindsay, Luke - In: Journal of economic theory 165 (2016), pp. 37-68

Persistent link: https://www.econbiz.de/10011649258

Uniqueness, stability, and local comparative statics for competitive equilibrium

Keenan, Donald C.; Kim, Taewon - In: International journal of economic theory 11 (2015) 2, pp. 169-176

Persistent link: https://www.econbiz.de/10011346293

Comment on 'Competitive Equilibria of Economies with a Continuum of Consumers and Aggregate Shocks' by J. Miao

Cheridito, Patrick - 2016

The paper "Competitive equilibria of economies with a continuum of consumers and aggregate shocks" by J. Miao provides an in-depth analysis of dynamic models of the economy with a continuum of agents and aggregate productivity shocks. In Section 3 the existence of a sequential competitive...

Persistent link: https://www.econbiz.de/10012986027

Competitive Equilibria of Economies with a Continuum of Consumers and Aggregate Shocks

Miao, Jianjun - 2005

This paper studies competitive equilibria of a production economy with aggregate productivity shocks. There is a continuum of consumers who face borrowing constraints and individual labor endowment shocks. The dynamic economy is described in terms of sequences of aggregate distributions. The...

Persistent link: https://www.econbiz.de/10014028443

Competitive Equilibria of Economies with a Continuum of Consumers and Aggregate Shocks

Miao, Jianjun - 2003

This paper studies competitive equilibria of a production economy with aggregate productivity shocks and with a continuum of consumers subject to borrowing constraints and individual labor endowment shocks. The dynamic economy is described in terms of sequences of aggregate distributions. The...

Persistent link: https://www.econbiz.de/10014029766

Equilibrium Theory with Link Portfolios

Won, Dong Chul - 2012

Portfolio constraints often prevent financial derivatives from being synthetically created by primitive assets and thus, open a way for the 'redundant' assets to participate in expanding risk-sharing opportunities. They bring about peculiar portfolios, called 'link portfolios,' at an aggregate...

Persistent link: https://www.econbiz.de/10013101179