Template-type: ReDIF-Paper 1.0
Author-Name: Manjira Datta
Author-Email: Manjira.Datta@asu.edu
Author-Homepage: http://wpcarey.asu.edu/Directory/stafffaculty.cfm?cobid=1039626
Author-Workplace-Name: W. P. Carey School of Business Department of Economics
Author-Workplace-Homepage: http://wpcarey.asu.edu/ecn/
Author-Name: Leonard Mirman
Author-Email: 
Author-Homepage: http://wpcarey.asu.edu/Directory/stafffaculty.cfm?cobid=2133549
Author-Workplace-Name: University of Virginia
Author-Workplace-Homepage: 
Author-Name: Kevin Reffett
Author-Email: kevin.reffett@asu.edu
Author-Homepage: http://wpcarey.asu.edu/Directory/stafffaculty.cfm?cobid=1039534
Author-Workplace-Name: W. P. Carey School of Business Department of Economics
Author-Workplace-Homepage: http://wpcarey.asu.edu/ecn/

Title: Existence and Uniqueness of Equilibrium in Distorted Dynamic Economies with Capital and Labor
Abstract: In this paper, we provide a set of sufficient conditions under which recursive competitive equilibrium exist and are unique for a large class of distorted dynamic equilibrium models with capital and elastic labor supply. We develop a monotone map approach to the problem. The class of economies for which we are able to obtain our existence result is apparently considerably larger than those considered in previous work. Additionally unlike previous work, we are able to also prove that this equilibrium is unique. We conclude by applying the new results to some important examples of monetary economies often used in applied work.		
Classification-JEL: C62, D51, D90, E10
Keywords: 
File-URL:http://wpcarey.asu.edu/tools/mytools/pubs_admin/FILES/wp00_7.pdf
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Handle: RePec:asu:wpaper:2132846