2014

Whalley, J., S. Zhang——Economic Modelling: Parametric persistence of multiple equilibria in an economy directly calibrated to 5 equilibria

时间:2014-05-23
In existing literature, there are few concrete examples of multiple equilibria and the only ones known to us have 3 equilibria, but multiplicity remains a major concern for applied models used in policy work. Here, we report numerical examples for a 3 individual 2 good CES/LES pure exchange economy directly calibrated to 5 equilibria. We are able to use analytical methods of the model to show that for certain parameterizations there are no more than 5 equilibria (given the parameter values). We
上一篇:岳希明 , 蔡萌 ——《中国人民大学学报》:现代财政制度中的转移支付改革方向 下一篇:Ma, Y., S. Li——Pakistan Journal of Statistics: Credit Constraint and Rural Finance in China
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