consumers, firms, the market equilibrium, and, in turn, the social optimum. Lower durability of goods reduces the incentive to …

We prove the existence of a minimal state space recursive equilibrium (RE) for a broad class of infinite horizon … dynamic general equilibrium models with positive externalities, dynamic complementarities, public policy, equilibrium … the literature. Rather, using partial ordering methods, we provide a qualitative theory of equilibrium comparative statics …

allocation of scarce resources among agents. We also consider a notion of decentralized equilibrium that is achieved merely by an …

existence of an equilibrium under assumptions, which are at the same level of generality than the ones for the existence in an …

to study the mechanism of transfer between generations, and we show that the existence of an equilibrium can be …

Harrison, Rutherford and Tarr (1997) use a multiregional Computable General Equilibrium (CGE) model with a CES …

exhibits moment failure and has an unbounded support. The linear approximation, however, yields a stationary distribution with …