RECURSIVE EQUILIBRIA IN AN AIYAGARI‐STYLE ECONOMY WITH PERMANENT INCOME SHOCKS

DOI10.1111/iere.12018zbMath1420.91239OpenAlexW1526145526MaRDI QIDQ4620100

Moritz Kuhn

Publication date: 7 February 2019

Published in: International Economic Review (Search for Journal in Brave)

Full work available at URL: https://mpra.ub.uni-muenchen.de/32323/1/MPRA_paper_32323.pdf

zbMATH Keywords

consumption dynamicsrecursive competitive equilibriumincome shocksAiyagari economynonmonotonicity in asset supply

Mathematics Subject Classification ID

Special types of economic equilibria (91B52)

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The effect of interest rates on consumption in an income fluctuation problem ⋮ Unbounded dynamic programming via the Q-transform ⋮ The income fluctuation problem and the evolution of wealth ⋮ On the existence and uniqueness of stationary equilibrium in Bewley economies with production ⋮ Inflationary equilibrium in a stochastic economy with independent agents ⋮ Unique monetary equilibrium with inflation in a stationary Bewley-Aiyagari model ⋮ Solving the income fluctuation problem with unbounded rewards ⋮ A theory of the saving rate of the rich

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