Equilibrium conditions in smooth infinite economies with separable utilities are described by Fredholm maps, which are Frechet differentiable. Therefore, Smale's extension of Sard's theorem can be used to studying infinite economies. We study structural stability and local uniqueness of...

I study connected manifolds in this paper. This include finite and infinite dimensional manifolds.

This paper formulates a conformity test for cointegration for a multivariate I(1) process obeying a VAR specification. The test statistic is a function of the characteristic roots of the sample covariance matrix of the cointegral vector; the latter is obtained from the unrestricted estimation of...

This paper examines how the first-best models of compensation based on the agents' talents and responsabilities analyzed in some recent contributions can be extended to a second-best context. A few social criteria are proposed and compared to alternative approaches by Roemer and Van de gaer.

This paper takes a fresk look at testing hypotheses on dimensionality in the MANOVA model.

I will sketch the history of the so-called turnpike theorems and describe some interesting recent developments regarding them. I will also discuss the attempt to apply the ideas of turnpike theorems in the literature of optimal capital accumulation to the theory of competitive equilibrium over...

In many economic contexts, a given function can be disaggregated as a linear combination of gradients. Examples include the literature on the characterization of aggregate demand and excess demand, as initiated by Sonnenschein (1973ab), and the model of efficient household behaviour recently...