Recursive Competitive Equilibrium: The Case of Homogeneous Households

DOI10.2307/1912812MaRDI QIDQ3916332zbMATH OpenOpenAlexWikidataFDO

Authors Edward C. Prescott, Rajnish Mehra

Publication date 1980

Published in Econometrica (Search for Journal in Brave)

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

zbMATH Keywords

Bellman's optimality equationcapital theoryexistencehomogeneous householdsinfinite horizon economymaximizing expected discounted utilityoptimalityrational expectationsrecursive competitive equilibriumshock affected preferencestime invariant preferencesvalue function of capital

Mathematics Subject Classification ID

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

Cited in

(31)

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• Stochastic growth with correlated production shocks
• Asset-return anomalies in a monetary economy
• Projection methods for solving aggregate growth models
• Bayesian learning, growth, and pollution
• On the fluctuations in consumption and market returns in the presence of labor and human capital: An equilibrium analysis
• 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
• A comparative study of portfolio insurance.
• Dividend policy and tax structure
• A state space model of the economic fundamentals
• Comparing recursive equilibrium in economies with dynamic complementarities and indeterminacy
• 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
• Price and quantity regulation in general equilibrium
• Investment options and the business cycle
• Efficient feed-in-tariff policies for renewable energy technologies
• Recursive competitive equilibrium: a parametric example
• The equilibrium set of infinite dimensional Walrasian economies and the natural projection
• Asset prices and the fundamentals: a Q test
• Fixed-term employment contracts in an equilibrium search model
• On efficiency in disagreement economies
• Invertible and non-invertible information sets in linear rational expectations models
• Martingale analysis of dynamic tax incidence in a nonstationary growth model
• On non-existence of Markov equilibria in competitive-market economies
• On the term structure of interest rates
• Recursive utility and the Ramsey problem
• Recursive equilibrium in endogenous growth models with incomplete markets
• An introduction to general equilibrium with incomplete asset markets
• Properties of equilibrium asset prices under alternative learning schemes

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