On Endogenous Compactness of the Individual State Space in the Huggett Model
AbstractOne of the sufficient conditions for existence and uniqueness of a stationary distribution of agents in the Huggett  model is the requirement that the space of individual states be a compact metric space. In this note, we reinforce the proof of Lemma 3 in Huggett  by showing that two additional contrary hypotheses must first be ruled out, toward the construction of the proof that the individual state space is endogenously compact.
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Bibliographic InfoPaper provided by Australian National University, College of Business and Economics, School of Economics in its series ANU Working Papers in Economics and Econometrics with number 2010-513.
Length: 7 Pages
Date of creation: Feb 2010
Date of revision:
Find related papers by JEL classification:
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