Template-type: ReDIF-Paper 1.0
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/
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
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Author-Name: Olivier Morand
Author-Email: 
Author-Homepage: http://wpcarey.asu.edu/Directory/stafffaculty.cfm?cobid=1049335
Author-Workplace-Name: University of Connecticut
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Title: Monotone Methods for Markovian Equilibrium in Dynamic Economies
Abstract: In this paper, we provide an overview of an emerging class of "monotone map methods" in analyzing distorted equilibrium in dynamic economies. In particular, we focus on proving the existence and characterization of competitive equilibrium in nonoptimal versions of the optimal growth models. We suggest two alternative methods: an Euler equation method for a smooth, strongly concave environment, and a value function method for a non-smooth supermodular environment. We are able to extend this analysis to study models that allow for unbounded growth or a labor-leisure choice.		
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File-URL:http://wpcarey.asu.edu/tools/mytools/pubs_admin/FILES/surveypaper10.pdf
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Handle: RePec:asu:wpaper:2133476