A common method to study the dynamic behavior of macroeconomic variables is using linear time series models; however, they are unable to explain nonlinear behavior of the series. Given the dependency between stock market and derivatives, the behavior of the underlying asset price can be modeled using Markov switching process properties and the economic regime significance. In this paper, a two-...

Compendious and thorough solutions to the existence of a linear price equilibrium problem, the secondwelfare theorem, and the limit theoremon the core are provided for exchange economieswhose consumption sets are the positive cone of arbitrary ordered Fréchet spaces—dispensing entirely with the assumption that the vector ordering of the commodity space is a lattice. The motivation comes from ec...