Template-type: ReDIF-Paper 1.0
Author-Name: Manuel Santos
Author-Email: Manuel.Santos@asu.edu
Author-Homepage: http://wpcarey.asu.edu/Directory/stafffaculty.cfm?cobid=1039501
Author-Workplace-Name: W. P. Carey School of Business Department of Economics
Author-Workplace-Homepage: http://wpcarey.asu.edu/ecn/

Title: On Non-Existence of Markov Equilibria in Competitive-Market Economies
Abstract: This paper presents some examples of regular dynamic economies with externalities and taxes that either lack existence of a Markov equilibrium or such equilibrium is not continuous. These examples pose further challenges for the analysis and computation of these economies.
JEL Classification:  C10, C62		
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Keywords: 
File-URL:http://wpcarey.asu.edu/tools/mytools/pubs_admin/FILES/Markov.pdf
File-Format: pdf
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Handle: RePec:asu:wpaper:2133305