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A note on the structural stability of the equilibrium manifold

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  • Loi, Andrea
  • Matta, Stefano

Abstract

In a smooth pure exchange economy with fixed total resources we investigate whether the smooth selection property holds when endowments are redistributed across consumers through a continuous (non-local) redistribution policy. We show that if the policy is regular then there exists a unique continuous path of equilibrium prices which support it.

Suggested Citation

  • Loi, Andrea & Matta, Stefano, 2010. "A note on the structural stability of the equilibrium manifold," Journal of Mathematical Economics, Elsevier, vol. 46(4), pages 591-594, July.
    • Handle: RePEc:eee:mateco:v:46:y:2010:i:4:p:591-594
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    References listed on IDEAS

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    1. K. J. Arrow & M.D. Intriligator (ed.), 1993. "Handbook of Mathematical Economics," Handbook of Mathematical Economics, Elsevier, edition 4, volume 2, number 2.
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    Cited by:

    1. Andrea Loi & Stefano Matta, 2012. "Structural stability and catastrophes," Economics Bulletin, AccessEcon, vol. 32(4), pages 3378-3385.
    2. Stefano Matta, 2021. "A note on local uniqueness of equilibria: How isolated is a local equilibrium?," Papers 2103.04968, arXiv.org.
    3. Loi, Andrea & Matta, Stefano, 2015. "Increasing complexity in structurally stable models: An application to a pure exchange economy," Journal of Mathematical Economics, Elsevier, vol. 57(C), pages 20-24.
    4. Kang, Minwook, 2015. "Price-level volatility and welfare in incomplete markets with sunspots," Journal of Mathematical Economics, Elsevier, vol. 56(C), pages 58-66.

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