-
[show abstract]
[hide abstract]
ABSTRACT: We present a new simple and short proof of the existence of
equilibria in the classical single-sector growth model.
Macroeconomic Dynamics 11/1997; 1(04):669 - 679. · 0.45 Impact Factor
-
Decisions in Economics and Finance 02/1996; 19(1):113-185.
-
11/1995;
-
International Economic Review 02/1990; 31(2):275-88. · 1.56 Impact Factor
-
[show abstract]
[hide abstract]
ABSTRACT: We show that in the overlapping generations model an allocation is a Walrasian equilibrium if and only if the allocation belongs to the short-term core of every replication of the OLG economy—and hence, we establish a core equivalence theorem for the overlapping generations model.
Journal of Economic Theory. 10/1989;
-
[show abstract]
[hide abstract]
ABSTRACT: We present versions of the two fundamental welfare theorems of economics for exchange economies with a countable number of agents and an infinite dimensional commodity space. These results are then specialized to the overlapping generations model.
07/1987;
-
[show abstract]
[hide abstract]
ABSTRACT: This paper studies pure exchange economies with infinite dimensional commodity spacces in the setting of Riesz dual systems. An Edgeworth equilibrium is an allocation that belongs to the core of every replication of the ec onomy. Under some mild conditions, it is shown that (1) Edgeworth equ ilibria exist, (2) an allocation is an Edgeworth equilibrium if and o nly if it is an approximate quasiequilibrium, and (3) if preferences are uniformly proper, then every Edgeworth equilibrium is a quasiequi librium. The obtained results specialize to most exchange economies t hat have appeared in the literature of general equilib rium theory. Copyright 1987 by The Econometric Society.
Econometrica 02/1987; 55(5):1109-37. · 2.98 Impact Factor
-
[show abstract]
[hide abstract]
ABSTRACT: An Edgeworth equilibrium is an allocation that belongs to the core of every n-fold replica of the economy. In this work we study the properties of Edgeworth equilibria for economies with production and infinite-dimensional commodity spaces. Under some relatively mild conditions we establish (among other things) that (1) Edgeworth equilibria exist, (2) every Edgeworth equilibrium is a quasi-equilibrium, and (3) An allocation is an Edgeworth equilibrium if and only if it can be “decentralized” by a price system.
Journal of Economic Theory. 02/1987;
-
[show abstract]
[hide abstract]
ABSTRACT: An Edgeworth equilibrium is an allocation that belongs to the core of every n-fold replica of the economy. In [2] we studied in the setting of Riesz spaces the properties of Edgeworth equilibria for pure exchange economies with infinite dimensional commodity spaces. In this work, we study the same problem for economies with production. Under some relatively mild conditions we establish (among other things) that: 1. Edgeworth equilibria exist; 2. Every Edgeworth equilibrium is a quasiequilibrium; and 3. An allocation is an Edgeworth equilibrium if and only if it can be "decentralized" by a price system.
04/1986;
-
[show abstract]
[hide abstract]
ABSTRACT: The paper studies pure exchange economies with infinite dimensional commodity spaces in the setting of Riesz dual systems. Several new concepts of equilibrium are introduced. An allocation (x_{1},...,x_{m}) is said to be a) an Edgeworth equilibrium whenever it belongs to the core of every n-fold replication of the economy; and b) an epsilon > 0 there exists some price p not equal to 0 with p omega =1 (where omega = Sigma omega_{i} is the total endowment) and with x >=_{i} x_{i} implying p times x > p times omega_{i} - epsilon. The major results of the paper are the following: Theorem I: Edgeworth equilibria exist. Theorem II: An allocation is an Edgeworth equilibrium if and only if it is an epsilon-Walrasian equilibrium. Theorem III: If preferences are proper, then every Edgeworth equilibrium is a quasi-equilibrium.
10/1985;
-
Mathematische Zeitschrift 05/1983; 184(2):245-257. · 0.75 Impact Factor
-
Mathematische Zeitschrift 09/1980; 174(3):289-298. · 0.75 Impact Factor
-
Mathematische Zeitschrift 01/1975; 144(1):25-33. · 0.75 Impact Factor
-
-
[show abstract]
[hide abstract]
ABSTRACT: The existence of equilibria is established in an overlapping generations exchange economy, where each generation lives for two periods and the commodity space is the positive cone of an infinite dimensional Riesz space. In particular, we establish the existence of equilibria in the stochastic overlapping generations model, i.e., we establish the existence of equilibria when the commodity space in each period is L∞ equipped with the Mackey topology τ(L∞, L1).
Journal of Mathematical Analysis and Applications.
-
SERBIULA (sistema Librum 2.0).
-
SERBIULA (sistema Librum 2.0).
-
SERBIULA (sistema Librum 2.0).
