Download This PaperComment on 'Competitive Equilibria of Economies with a Continuum of Consumers and Aggregate Shocks' by J. Miao
1 Pages Posted: 1 Aug 2016
Date Written: July 27, 2016
Abstract
The paper "Competitive equilibria of economies with a continuum of consumers and aggregate shocks" by J. Miao provides an in-depth analysis of dynamic models of the economy with a continuum of agents and aggregate productivity shocks. In Section 3 the existence of a sequential competitive equilibrium is derived by applying the Brouwer -- Schauder -- Tychonoff fixed point theorem. But unfortunately, there are two non-trivial problems in the proof.
Keywords: Competitive equilibrium, heterogenous agent models
JEL Classification: C62, D52, E20
Suggested Citation: Suggested Citation
Cheridito, Patrick and Sagredo, Juan, Comment on 'Competitive Equilibria of Economies with a Continuum of Consumers and Aggregate Shocks' by J. Miao (July 27, 2016). Available at SSRN: https://ssrn.com/abstract=2815971 or http://dx.doi.org/10.2139/ssrn.2815971
Feedback
Feedback to SSRN
If you need immediate assistance, call 877-SSRNHelp (877 777 6435) in the United States, or +1 212 448 2500 outside of the United States, 8:30AM to 6:00PM U.S. Eastern, Monday - Friday.