On the number of critical equilibria separating two equilibria
نویسندگان
چکیده
منابع مشابه
On the number of critical equilibria separating two equilibria
It is shown that two arbitrary equilibria in the general equilibrium model without sign restrictions on endowments can be joined by a continuous equilibrium path that contains at most two critical equilibria. This property is strengthened by showing that regular equilibria having an index equal to 1, a necessary condition for stability, can be joined by a path containing no critical equilibrium...
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ژورنال
عنوان ژورنال: Theoretical Economics
سال: 2012
ISSN: 1933-6837
DOI: 10.3982/te822