Existence of Sequential Competitive Equilibrium in Krusell–Smith Type Economies

14 Pages Posted: 14 Jun 2016

Date Written: May 22, 2016

Abstract

In this paper, we give a proof of existence of sequential competitive equilibrium in Krusell-Smith type economies with different kinds of agents, taxes, unemployment insurance, and endogenous labor choice. We also provide a formal construction of a family of shock processes exhibiting conditional-no-aggregate-uncertainty.

Keywords: Competitive equilibrium, heterogenous agent models, conditional-no-aggregate-uncertainty

JEL Classification: C62, D52, E20

Suggested Citation

Cheridito, Patrick and Sagredo, Juan, Existence of Sequential Competitive Equilibrium in Krusell–Smith Type Economies (May 22, 2016). Available at SSRN: https://ssrn.com/abstract=2794629 or http://dx.doi.org/10.2139/ssrn.2794629

Patrick Cheridito (Contact Author)

ETH Zurich ( email )

Department of Mathematics
8092 Zurich
Switzerland

Juan Sagredo

Princeton University ( email )

22 Chambers Street
Princeton, NJ 08544-0708
United States

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