RECURSIVE EQUILIBRIA IN DYNAMIC ECONOMIES WITH STOCHASTIC PRODUCTION

In this paper, we prove the existence of recursive equilibria in a dynamic stochastic model with infinitely lived heterogeneous agents, several commodities, and general inter- and intratemporal production. We illustrate the usefulness of our result by providing sufficient conditions for the existenc...

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Veröffentlicht in:	Econometrica 2017-09, Vol.85 (5), p.1467-1499
Hauptverfasser:	Brumm, Johannes, Kryczka, Dominika, Kubler, Felix
Format:	Artikel
Sprache:	eng
Schlagworte:	Asset pricing Dynamic general equilibrium Economic models Equilibrium Growth models heterogeneous agents incomplete markets Pricing policies recursive equilibrium Stochastic models Usefulness
Online-Zugang:	Volltext
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