A new approach to the existence and regularity of linear equilibrium in a noisy rational expectations economy

doi:10.1016/j.jmateco.2020.07.003

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	A new approach to the existence and regularity of linear equilibrium in a noisy rational expectations economy
	Lou, Youcheng; Wang, Shouyang
	2020-10-01
发表期刊	JOURNAL OF MATHEMATICAL ECONOMICS
ISSN	0304-4068
卷号	90 页码:119-126
摘要	This paper gives a new approach to show the existence and regularity of linear equilibrium established by Lou (R) al. (2019) for a noisy rational expectations economy. Different from the existing method which essentially requires to find a fixed point of a system of nonlinear algebraic equations, the new approach is operated directly on an alternative form of market-clearing conditions. One main advantage of the new approach is that besides homogeneous-valuation economies, it can also handle the existence of equilibrium in economies with heterogeneous valuations where the existing method for dealing with homogeneous-valuation economies fails to work. (c) 2020 Elsevier B.V. All rights reserved.
关键词	Existence and regularity Rational expectations equilibrium A new approach
DOI	10.1016/j.jmateco.2020.07.003
收录类别	SCI
语种	英语
资助项目	National Natural Science Foundation of China[71971208]
WOS研究方向	Business & Economics ; Mathematics ; Mathematical Methods In Social Sciences
WOS类目	Economics ; Mathematics, Interdisciplinary Applications ; Social Sciences, Mathematical Methods
WOS记录号	WOS:000571474500014
出版者	ELSEVIER SCIENCE SA
引用统计
文献类型	期刊论文
条目标识符	http://ir.amss.ac.cn/handle/2S8OKBNM/52236
专题	中国科学院数学与系统科学研究院
通讯作者	Lou, Youcheng
作者单位	Chinese Acad Sci, Acad Math & Syst Sci, MDIS, Beijing, Peoples R China
推荐引用方式 GB/T 7714	Lou, Youcheng,Wang, Shouyang. A new approach to the existence and regularity of linear equilibrium in a noisy rational expectations economy[J]. JOURNAL OF MATHEMATICAL ECONOMICS,2020,90:119-126.
APA	Lou, Youcheng,&Wang, Shouyang.(2020).A new approach to the existence and regularity of linear equilibrium in a noisy rational expectations economy.JOURNAL OF MATHEMATICAL ECONOMICS,90,119-126.
MLA	Lou, Youcheng,et al."A new approach to the existence and regularity of linear equilibrium in a noisy rational expectations economy".JOURNAL OF MATHEMATICAL ECONOMICS 90(2020):119-126.