The Number of Equilibria of Smooth Infinite Economies

We construct an index theorem for smooth infinite economies that shows that generically the number of equilibria is odd. As a corollary, this gives a new proof of existence and gives conditions that guarantee global uniqueness of equilibria.

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Year of publication:	2011-05
Authors:	Covarrubias, Enrique
Institutions:	Banco de México
Subject:	Uniqueness \| determinacy \| equilibria \| infinite economy \| Fredholm map \| equilibrium manifold \| index theorem \| Z-Rothe vector field

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 2011-02
Classification:	D50 - General Equilibrium and Disequilibrium. General ; D51 - Exchange and Production Economies ; D80 - Information and Uncertainty. General ; D90 - Intertemporal Choice and Growth. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009023316