Non-existence of recursive equilibria on compact state spaces when markets are incomplete.

DOI10.1016/S0022-0531(03)00113-3zbMath1063.91062OpenAlexW2062641702MaRDI QIDQ1427501

Tom Krebs

Publication date: 14 March 2004

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/s0022-0531(03)00113-3

zbMATH Keywords

Incomplete marketsRecursive equilibriumNon-Existence

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Auctions, bargaining, bidding and selling, and other market models (91B26)

Related Items

Recursive equilibrium with price perfect foresight and a minimal state space, Recursive equilibrium in endogenous growth models with incomplete markets, Markovian equilibrium in infinite horizon economies with incomplete markets and public policy, Consumption dynamics in general equilibrium: a characterisation when markets are incomplete, On the existence and uniqueness of stationary equilibrium in Bewley economies with production, Lipschitz recursive equilibrium with a minimal state space and heterogeneous agents, On stationary recursive equilibria and nondegenerate state spaces: the Huggett model, Non-existence of recursive equilibria on compact state spaces when markets are incomplete., Competitive equilibria of economies with a continuum of consumers and aggregate shocks

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