A dynamic equilibrium model of search, production, and exchange
type: Item
instance of: scholarly article
title: A dynamic equilibrium model of search, production, and exchange
zbMATH Open document ID: 0805.90015
DOI: 10.1016/0165-1889(93)90012-H
author: Michele Boldrin
author: Nobuhiro Kiyotaki
author: Randall Wright
publication date: 1993-01-01T00:00:00Z
review text: Presented is a general equilibrium model of search, production and exchange with a continuum of infinite-lived agents and a continuum of commodities. The authors analyse the existence of a multiple steady state equilibrium and a multiple dynamic equilibrium in the economy with decreasing, constant, and increasing returns to scale. The authors deal with a nonmonetary model of the economy. Their results can potentially be applied to a monetary version of the model.
Mathematics Subject Classification ID: 91B62
Mathematics Subject Classification ID: 91B50
Mathematics Subject Classification ID: 91B66
zbMATH DE Number: 447049
zbMATH Keywords: dynamic equilibrium
zbMATH Keywords: Bellman's equations
zbMATH Keywords: general equilibrium model of search
zbMATH Keywords: production
zbMATH Keywords: exchange
zbMATH Keywords: continuum of infinite-lived agents
zbMATH Keywords: continuum of commodities
zbMATH Keywords: multiple steady state equilibrium
reviewed by: Emil Panek
MaRDI profile type: Publication
cites work: Q3903276
cites work: Nonlinear oscillations, dynamical systems, and bifurcations of vector fields
cites work: Q3685063
cites work: Q3917197
cites work: A contribution to the pure theory of money
cites work: Q3247296
cites work: Q1233671
full work available at URL: 0165-1889(93)90012-h
OpenAlex ID: W2167137318
published in: Journal of Economic Dynamics and Control
description: scientific article; zbMATH DE number 447049