Uniqueness of equilibrium in a Bewley–Aiyagari model

Bar Light

doi:10.1007/s00199-018-1167-z

Uniqueness of equilibrium in a Bewley–Aiyagari model

Bar Light^*

^*Corresponding author for this work

Stanford University

Research output: Contribution to journal › Article › peer-review

16 Scopus citations

Abstract

I establish the uniqueness of a stationary equilibrium in a Bewley–Aiyagari model when the agents’ utility function exhibits constant relative risk aversion bounded above by 1 and the production function exhibits a certain gross substitute property.

Original language	English
Pages (from-to)	435-450
Number of pages	16
Journal	Economic Theory
Volume	69
Issue number	2
DOIs	https://doi.org/10.1007/s00199-018-1167-z
State	Published - 1 Mar 2020
Externally published	Yes

Keywords

Aggregate savings
Bewley–Aiyagari model
Stationary equilibrium
Uniqueness of equilibrium
heterogeneous agents

Access to Document

10.1007/s00199-018-1167-z

Cite this

@article{0075a29bd5e44f2aba0a485521ad405c,

title = "Uniqueness of equilibrium in a Bewley{\textendash}Aiyagari model",

abstract = "I establish the uniqueness of a stationary equilibrium in a Bewley{\textendash}Aiyagari model when the agents{\textquoteright} utility function exhibits constant relative risk aversion bounded above by 1 and the production function exhibits a certain gross substitute property.",

keywords = "Aggregate savings, Bewley{\textendash}Aiyagari model, Stationary equilibrium, Uniqueness of equilibrium, heterogeneous agents",

author = "Bar Light",

note = "Publisher Copyright: {\textcopyright} 2018, Springer-Verlag GmbH Germany, part of Springer Nature.",

year = "2020",

month = mar,

day = "1",

doi = "10.1007/s00199-018-1167-z",

language = "אנגלית",

volume = "69",

pages = "435--450",

journal = "Economic Theory",

issn = "0938-2259",

publisher = "Springer New York",

number = "2",

}

TY - JOUR

T1 - Uniqueness of equilibrium in a Bewley–Aiyagari model

AU - Light, Bar

PY - 2020/3/1

Y1 - 2020/3/1

N2 - I establish the uniqueness of a stationary equilibrium in a Bewley–Aiyagari model when the agents’ utility function exhibits constant relative risk aversion bounded above by 1 and the production function exhibits a certain gross substitute property.

AB - I establish the uniqueness of a stationary equilibrium in a Bewley–Aiyagari model when the agents’ utility function exhibits constant relative risk aversion bounded above by 1 and the production function exhibits a certain gross substitute property.

KW - Aggregate savings

KW - Bewley–Aiyagari model

KW - Stationary equilibrium

KW - Uniqueness of equilibrium

KW - heterogeneous agents

UR - https://www.scopus.com/pages/publications/85058444100

U2 - 10.1007/s00199-018-1167-z

DO - 10.1007/s00199-018-1167-z

M3 - ???researchoutput.researchoutputtypes.contributiontojournal.article???

AN - SCOPUS:85058444100

SN - 0938-2259

VL - 69

SP - 435

EP - 450

JO - Economic Theory

JF - Economic Theory

IS - 2

ER -

Uniqueness of equilibrium in a Bewley–Aiyagari model

Abstract

Keywords

Access to Document

Other files and links

Fingerprint

Cite this