Recursive equilibria in dynamic economies with stochastic production ∗

@inproceedings{Brumm2014RecursiveEI,
  title={Recursive equilibria in dynamic economies with stochastic production ∗},
  author={Johannes Brumm and Dominika Kryczka and Felix Kubler},
  year={2014}
}
In this paper we prove the existence of recursive equilibria in stochastic production economies with infinitely lived agents and incomplete financial markets. We consider a general dynamic model with several commodities, which encompasses heterogeneous agent versions of both the Lucas asset pricing model and the stochastic neo-classical growth model as special cases. Our main assumption is that there are atomless shocks to fundamentals that have a purely transitory component and a component… CONTINUE READING

From This Paper

Figures, tables, and topics from this paper.
1 Citations
27 References
Similar Papers

Citations

Publications citing this paper.

References

Publications referenced by this paper.
Showing 1-10 of 27 references

In nite Dimensional Analysis: A Hitchhiker's Guide

  • C. D. Aliprantis
  • Border
  • 2006
Highly Influential
10 Excerpts

Numerical Simulation of Nonoptimal Dynamic Equilibrium Models

  • Y. Sun
  • International Economic Review
  • 2014

Discounted Stochastic Games with no Stationary Nash Equilibrium

  • Levy, Yehuda
  • Two Examples, Econometrica,
  • 2013

Discounted Stochastic Games with no Stationary Nash Equilibrium : Two Examples

  • Yehuda Levy
  • Econometrica
  • 2013
1 Excerpt

Noisy Stochastic Games

  • B. Dumas, A. Lyasoff
  • Econometrica
  • 2012

Recursive Equilibrium in Stochastic OverlappingGenerations Economies

  • P. Siconolfi
  • Econometrica
  • 2010

Similar Papers

Loading similar papers…