Recursive Competitive Equilibrium: The Case of Homogeneous Households

DOI10.2307/1912812zbMath0464.90006OpenAlexW3121765995WikidataQ56454350 ScholiaQ56454350MaRDI QIDQ3916332

Rajnish Mehra, Edward C. Prescott

Publication date: 1980

Published in: Econometrica (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.2307/1912812

zbMATH Keywords

existenceoptimalityrational expectationscapital theoryinfinite horizon economyrecursive competitive equilibriumBellman's optimality equationhomogeneous householdsmaximizing expected discounted utilityshock affected preferencestime invariant preferencesvalue function of capital

Mathematics Subject Classification ID

Economic growth models (91B62) General equilibrium theory (91B50)

Related Items (31)

Asset-return anomalies in a monetary economy ⋮ Recursive equilibrium in endogenous growth models with incomplete markets ⋮ Investment options and the business cycle ⋮ Asset prices and the fundamentals: a Q test ⋮ Recursive competitive equilibrium: a parametric example ⋮ Dividend policy and tax structure ⋮ The equilibrium set of infinite dimensional Walrasian economies and the natural projection ⋮ Aggregate investment in a business cycle model with adjustment costs ⋮ A market structure for an environment with heterogeneous job-matches, indivisible labor and persistent unemployment ⋮ On efficiency in disagreement economies ⋮ Invertible and non-invertible information sets in linear rational expectations models ⋮ Lipschitz recursive equilibrium with a minimal state space and heterogeneous agents ⋮ One-step-ahead implementation ⋮ Computing minimal state space recursive equilibrium in OLG models with stochastic production ⋮ An introduction to general equilibrium with incomplete asset markets ⋮ Fixed-term employment contracts in an equilibrium search model ⋮ Martingale analysis of dynamic tax incidence in a nonstationary growth model ⋮ Properties of equilibrium asset prices under alternative learning schemes ⋮ Projection methods for solving aggregate growth models ⋮ On non-existence of Markov equilibria in competitive-market economies ⋮ Efficient Feed-In-Tariff Policies for Renewable Energy Technologies ⋮ On the term structure of interest rates ⋮ Recursive utility and the Ramsey problem ⋮ Bayesian learning, growth, and pollution ⋮ Comparing recursive equilibrium in economies with dynamic complementarities and indeterminacy ⋮ A state space model of the economic fundamentals ⋮ Happiness maintenance and asset prices ⋮ On the fluctuations in consumption and market returns in the presence of labor and human capital: An equilibrium analysis ⋮ Stochastic growth with correlated production shocks ⋮ Price and quantity regulation in general equilibrium ⋮ A comparative study of portfolio insurance.

This page was built for publication: Recursive Competitive Equilibrium: The Case of Homogeneous Households