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In this paper we first give an elementary proof of existence of equilibrium with dividends in an economy with possibly satiated consumers. We then introduce a no-arbitrage condition and show that it is equivalent to the existence of equilibrium with dividends
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In this article, we develop an analytical general equilibrium model of the equilibrium exchange rate. This theoretical framework allows us to identify the relevant set of variables which determinate the equilibrium exchange rate and to explore how theses variables influence the trajectory of the...
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local or global nonsatiation. Werner's existence result contrasts sharply with classical existence results for bounded … admit existence without local or global nonsatiation? This question is the focus of our paper. First, we show that in … clear is that it is precisely the condition of weak nonsatiation - a condition considerably weaker than local or global …
Persistent link: https://www.econbiz.de/10010750785
local or global nonsatiation. Werner's existence result contrasts sharply with classical existence results for bounded … admit existence without local or global nonsatiation? This question is the focus of our paper. First, we show that in … clear is that it is precisely the condition of weak nonsatiation - a condition considerably weaker than local or global …
Persistent link: https://www.econbiz.de/10008795214
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or fixed prices. Econometrica 54, 1271-1318; Mas-Collel, A., 1992. Equilibrium theory with possibly satiated preferences …
Persistent link: https://www.econbiz.de/10005374389
or fixed prices. Econometrica 54, 1271-1318; Mas-Collel, A., 1992. Equilibrium theory with possibly satiated preferences …
Persistent link: https://www.econbiz.de/10005388291