The main purpose of this paper is to prove that if there is a non-expansive map relating the sets of optimal strategies for a convex polynomial game, then there exists only one optimal strategy for solving that game. We introduce the remark that those sets are semi-algebraic. This is a natural...

This paper extends the standard New Keynesian dynamic stochastic general equilibrium (DSGE) model to agents who cannot smooth consumption (i.e. spenders) and are affected by external consumption habits. Although these assumptions are not new, their joint consideration strongly affects some...