Advanced Search
MyIDEAS: Login to save this paper or follow this series

Regular Infinite Economies

Contents:

Author Info

  • Enrique Covarrubias

Abstract

The main contribution of this paper is to place smooth infinite economies in the setting of the equilibrium manifold and the natural projection map à la Balasko. We show that smooth infinite economies have an equilibrium set that has the structure of a Banach manifold and that the natural projection map is smooth. We define regular and critical economies, and regular and critical prices, and we show that the set of regular economies coincides with the set of economies whose excess demand function has only regular prices. Generic determinacy of equilibria follows as a by-product.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.banxico.org.mx/publicaciones-y-discursos/publicaciones/documentos-de-investigacion/banxico/%7BA37473DF-33D5-931D-8227-69C026162C03%7D.pdf
Download Restriction: no

Bibliographic Info

Paper provided by Banco de México in its series Working Papers with number 2010-03.

as in new window
Length:
Date of creation: Mar 2010
Date of revision:
Handle: RePEc:bdm:wpaper:2010-03

Contact details of provider:
Web page: http://www.banxico.org.mx
More information through EDIRC

Related research

Keywords: General equilibrium; Infinite economies; Intertemporal choice; Uncertainty.;

Other versions of this item:

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Dierker, Egbert, 1993. "Regular economies," Handbook of Mathematical Economics, Elsevier, in: K. J. Arrow & M.D. Intriligator (ed.), Handbook of Mathematical Economics, edition 4, volume 2, chapter 17, pages 795-830 Elsevier.
  2. Yves Balasko, 1995. "Equilibrium Analysis of the Infinite Horizon Model with Smooth Discounted Utility Functions," Research Papers by the Institute of Economics and Econometrics, Geneva School of Economics and Management, University of Geneva, Institut d'Economie et Econométrie, Université de Genève 95.04, Institut d'Economie et Econométrie, Université de Genève.
  3. Chichilnisky, G & Zhou, Y, 1996. "Smooth Infinite Economiesq," Discussion Papers, Columbia University, Department of Economics 1996_30, Columbia University, Department of Economics.
  4. Araujo, A., 1988. "The non-existence of smooth demand in general banach spaces," Journal of Mathematical Economics, Elsevier, vol. 17(4), pages 309-319, September.
  5. Timothy J. Kehoe & David K. Levine & Andreu Mas-Colell & William Zame, 1989. "Determinacy of Equilibrium in Large Square Economies," Levine's Working Paper Archive 46, David K. Levine.
  6. Chris Shannon & William R. Zame, 2002. "Quadratic Concavity and Determinacy of Equilibrium," Econometrica, Econometric Society, Econometric Society, vol. 70(2), pages 631-662, March.
  7. Dierker, Egbert & Dierker, Hildegard, 1972. "The Local Uniqueness of Equilibria," Econometrica, Econometric Society, Econometric Society, vol. 40(5), pages 867-81, September.
  8. Hervé Crès & Tobias Markeprand & Mich Tvede, 2009. "Incomplete Financial Markets and Jumps in Asset Prices," Discussion Papers 09-12, University of Copenhagen. Department of Economics.
  9. Kehoe, Timothy J. & Levine, David K. & Mas-Colell, Andreu & Zame, William R., 1989. "Determinacy of equilibrium in large-scale economies," Journal of Mathematical Economics, Elsevier, vol. 18(3), pages 231-262, June.
  10. Balasko, Yves, 1997. "The natural projection approach to the infinite-horizon model," Journal of Mathematical Economics, Elsevier, vol. 27(3), pages 251-263, April.
  11. Chris Shannon., 1996. "Determinacy of Competitive Equilibria in Economies with Many Commodities," Economics Working Papers, University of California at Berkeley 96-249, University of California at Berkeley.
  12. Elvio Accinelli, 2003. "About manifolds and determinacy in general equilibrium theory," Estudios de Economia, University of Chile, Department of Economics, University of Chile, Department of Economics, vol. 30(2 Year 20), pages 169-177, December.
  13. Hervés-Beloso, Carlos & Monteiro, Paulo Klinger, 2009. "Existence, continuity and utility representation of strictly monotonic preferences on continuum of goods commodity spaces," MPRA Paper 15157, University Library of Munich, Germany.
  14. Mas-Colell, Andreu, 1991. "Indeterminacy in Incomplete Market Economies," Economic Theory, Springer, Springer, vol. 1(1), pages 45-61, January.
  15. Dierker, Egbert, 1972. "Two Remarks on the Number of Equilibria of an Economy," Econometrica, Econometric Society, Econometric Society, vol. 40(5), pages 951-53, September.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Enrique Covarrubias, 2010. "The Equilibrium Set of Economies with a Continuous Consumption Space," Working Papers, Banco de México 2010-10, Banco de México.
  2. Covarrubias, Enrique, 2013. "The number of equilibria of smooth infinite economies," Journal of Mathematical Economics, Elsevier, vol. 49(4), pages 263-265.
  3. Accinelli, Elvio & Covarrubias, Enrique, 2014. "Smooth economic analysis for general spaces of commodities," MPRA Paper 53222, University Library of Munich, Germany.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:bdm:wpaper:2010-03. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dirección de Sistemas).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.