This paper solves the equilibrium problem in a pure-exchange, continuous-time economy in which some agents face information costs or other types of frictions effectively preventing them from investing in the stock market. Under the assumption that the restricted agents have logarithmic...

The aim of this paper is to characterise the set of non regular economies, when there is a finite number of consumers with either finite or infinitely many goods. We prove that the structure of the equilibrium set is the same in both cases and that there exist bifurcations in some of these models.

With the help of an illustrative general equilibrium (CGE) model of the Moroccan Economy, we test for the significance of simulation results in the case where the exact macromesure is not known with certainty. This is done by computing lower and upper bounds for the simulation resukts, given a...

In this paper, we prove the existence of equilibria when we consider a model with infinitely many commodities and when producers have increasing returns to scale or more general types of non-convexities.

The competitive equilibrium correspondence, which associates equilibrium prices of commodities ans assets with allocations of endowments, identifies the preferences and beliefs of individuals, this is the case even if the asset market is incomplete.

We study environments where a production process is jointly shared by a finite group of agents. The social decision involves the determination of input contribution and output distribution. We define a competitive solution when there is decreasing returns-to-scale and show that it leads to a...

The essential idea of equilibrium search models of labor market behavior is that wage policy matters. In this paper we provide for estimating equilibrium search models using a non-parametric estimator of heterogeneity.

In this paper, it is proved that in the case of pure exchange economy, the oligopoly equilibrium leads to the competitive equilibrium when the economy is replicated an infinite number of times.