In a smooth pure exchange economy with fixed total resources we investigate whether the smooth selection property holds when endowments are redistributed across consumers through a continuous (non-local) redistribution policy. We show that if the policy is regular then there exists a unique continuous path of equilibrium prices which support it.

A note on the structural stability of the equilibrium manifold

LOI, ANDREA;MATTA, STEFANO
2010-01-01

Abstract

In a smooth pure exchange economy with fixed total resources we investigate whether the smooth selection property holds when endowments are redistributed across consumers through a continuous (non-local) redistribution policy. We show that if the policy is regular then there exists a unique continuous path of equilibrium prices which support it.
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11584/101738
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