Download This PaperExistence 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: 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
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