We show that, in a pure exchange smooth economy, a redistribution of endowments involving singular economies can be supported by a unique and continuous path of supporting equilibrium price vectors if this redistribution is the projection of a path on the equilibrium manifold transversal to the set of critical equilibria.
Structural stability and catastrophes
LOI, ANDREA;MATTA, STEFANO
2012-01-01
Abstract
We show that, in a pure exchange smooth economy, a redistribution of endowments involving singular economies can be supported by a unique and continuous path of supporting equilibrium price vectors if this redistribution is the projection of a path on the equilibrium manifold transversal to the set of critical equilibria.
File in questo prodotto:
| File | Dimensione | Formato | |
|---|---|---|---|
|
9 EB-12-V32-I4-P325.pdf
Solo gestori archivio
Tipologia:
versione editoriale (VoR)
Dimensione
388.53 kB
Formato
Adobe PDF
|
388.53 kB | Adobe PDF | Visualizza/Apri Richiedi una copia |
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
