Equilibrium Concepts in the Large Household Model

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Equilibrium Concepts in the Large Household Model

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Zhu, Tao

Abstract

This paper formulates equilibrium concepts in the large (non atomic) household model under the team interpretation, characterizes a class of equilibrium allocations, explores whether an equilibrium allocation in the large-household model has a foundation in the finite-household model, and establishes the existence of equilibrium allocations generated by generalized Nash bargaining.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 7444.

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Date of creation: 2007
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Handle: RePEc:pra:mprapa:7444

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Paper
- Zhu, Tao, 2007. "Equilibrium Concepts in the Large Household Model," Working Papers 07-01, Cornell University, Center for Analytic Economics. [Downloadable!]

Find related papers by JEL classification:
E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General

This paper has been announced in the following NEP Reports:

NEP-ALL-2008-03-08 (All new papers)
NEP-MAC-2008-03-08 (Macroeconomics)

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Bernhard Rauch, 2000. "A Divisible Search Model of Fiat Money: A Comment," Econometrica, Econometric Society, vol. 68(1), pages 149-156, January.
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Other versions:
- Weimin Wang & Shouyong Shi, 2006. "The Variability of Velocity of Money in a Search Model," Working Papers tecipa-190, University of Toronto, Department of Economics. [Downloadable!]
Shouyong Shi, 1997. "A Divisible Search Model of Fiat Money," Econometrica, Econometric Society, vol. 65(1), pages 75-102, January.
Other versions:
- Shouyong Shi, 1996. "A Divisible Search Model of Fiat Money," Working Papers 930, Queen's University, Department of Economics.
Allen Head & Shouyong Shi, 2000. "A Fundamental Theory of Exchange Rates and Direct Currency Trades," Working Papers 993, Queen's University, Department of Economics.
Other versions:
- Allen Head & Shouyong Shi, 2002. "A Fundamental Theory of Exchange Rates and Direct Currency Trades," Working Papers shouyong-03-01, University of Toronto, Department of Economics. [Downloadable!]
- Head, Allen & Shi, Shouyong, 2003. "A fundamental theory of exchange rates and direct currency trades," Journal of Monetary Economics, Elsevier, vol. 50(7), pages 1555-1591, October. [Downloadable!] (restricted)
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Other versions:
- Wouter J. den Haan & Garey Ramey & Joel Watson, 1997. "Job Destruction and Propagation of Shocks," University of California at San Diego, Economics Working Paper Series 97-23, Department of Economics, UC San Diego. [Downloadable!]
- Wouter J. den Haan & Garey Ramey & Joel Watson, 2000. "Job Destruction and Propagation of Shocks," American Economic Review, American Economic Association, vol. 90(3), pages 482-498, June. [Downloadable!] (restricted)
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Kiyotaki, Nobuhiro & Wright, Randall, 1989. "On Money as a Medium of Exchange," Journal of Political Economy, University of Chicago Press, vol. 97(4), pages 927-54, August. [Downloadable!] (restricted)
Merz, Monika, 1995. "Search in the labor market and the real business cycle," Journal of Monetary Economics, Elsevier, vol. 36(2), pages 269-300, November. [Downloadable!] (restricted)
Ricardo Lagos & Randall Wright, 2005. "A Unified Framework for Monetary Theory and Policy Analysis," Journal of Political Economy, University of Chicago Press, vol. 113(3), pages 463-484, June.
Other versions:
- Ricardo Lagos & Randall Wright, 2004. "A unified framework for monetary theory and policy analysis," Staff Report 346, Federal Reserve Bank of Minneapolis. [Downloadable!]
- Ricardo Lagos & Randall Wright, 2002. "A unified framework for monetary theory and policy analysis," Working Paper 0211, Federal Reserve Bank of Cleveland. [Downloadable!]
Shi, Shouyong, 1999. "Search, inflation and capital accumulation," Journal of Monetary Economics, Elsevier, vol. 44(1), pages 81-103, August. [Downloadable!] (restricted)
Other versions:
- Shouyong Shi, 1998. "Search, Inflation, and Capital Accumulation," Working Papers 971, Queen's University, Department of Economics.

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