Robust Comparative Statics in Large Dynamic Economies ∗

  title={Robust Comparative Statics in Large Dynamic Economies ∗},
  author={Daron Acemoglu and Martin Kaae Jensen},
We consider infinite horizon economies populated by a continuum of agents who are subject to idiosyncratic shocks. This framework contains models of saving and capital accumulation with incomplete markets in the spirit of works by Bewley, Aiyagari, and Huggett, and models of entry, exit and industry dynamics in the spirit of Hopenhayn’s work as special cases. Robust and easy-to-apply comparative statics results are established with respect to exogenous parameters as well as various kinds of… CONTINUE READING

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