Recursive equilibrium in Krusell and Smith (1998)

This paper uses the tools developed in the literature on dynamically incomplete markets with finite agents to study the large economy with a continuum of agents and both aggregate and idiosyncratic shocks in Krusell and Smith (1998). It establishes the existence of sequential competitive equilibrium...

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Bibliographic Details
Published in:	Journal of economic theory Vol. 186; p. 104978
Main Author:	Cao, Dan
Format:	Journal Article
Language:	English
Published:	Elsevier Inc 01.03.2020
Subjects:	Aggregate and Idiosyncratic Shocks Heterogeneous Agents Incomplete Markets Kakutani-Fan-Glicksberg Fixed Point Theorems Recursive Equilibrium Stationarity and Ergodicity D5 Aggregate and Idiosyncratic Shocks Heterogeneous Agents Recursive Equilibrium Stationarity and Ergodicity E1 E2 E3 Incomplete Markets D3 Kakutani-Fan-Glicksberg Fixed Point Theorems
ISSN:	0022-0531, 1095-7235
Online Access:	Get full text
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