Limited Arbitrage and Uniqueness of Equilibrium in Strictly Regular Economies

Graciela Chichilnisky ()

Discussion Papers from Columbia University, Department of Economics

Abstract: In strictly regular economies limited arbitrage is sufficient for the global invertibility of demand, and necessary and sufficient for the uniqueness of equilibrium. This result is established using algebraic topology and holds in economies with short sales, and with finitely or infinitely many markets.

Keywords: REGULATION; CENTRAL BANKS; GENERAL EQUILIBRIUM (search for similar items in EconPapers)
JEL-codes: E61 L51 E58 (search for similar items in EconPapers)
Date: 1996

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Working Paper: Limited Arbitrage and Uniqueness of Equilibrium in Stricly Regular Economies (1996)
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Persistent link: http://EconPapers.repec.org/RePEc:clu:wpaper:1996_26

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