On stationary recursive equilibria and nondegenerate state spaces: The Huggett model
نویسندگان
چکیده
منابع مشابه
On Stationary Recursive Equilibria and Non-degenerate State Spaces: the Huggett Model
The seminal work of Huggett [“The risk-free rate in heterogeneous-agent incomplete-insurance economies”, Journal of Economic Dynamics and Control, 1993, 17(5-6), 953-969] showed that in a stationary recursive equilibrium, there exists a unique stationary distribution of agent types. However, the question remains open if an equilibrium’s individual state space might turn out to be such that eith...
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ژورنال
عنوان ژورنال: Journal of Mathematical Economics
سال: 2014
ISSN: 0304-4068
DOI: 10.1016/j.jmateco.2013.09.009