Existence of a Short-Run Equilibrium of the Dixit-Stiglitz-Krugman Model

Minoru Tabata and Nobuoki Eshima

Discrete Dynamics in Nature and Society, 2018, vol. 2018, 1-8

Abstract:

Each short-run equilibrium of the Dixit-Stiglitz-Krugman model is defined as a solution to the wage equation when the distributions of workers and farmers are given functions. We extend the discrete nonlinear operator contained in the wage equation as a set-valued operator. Applying the Kakutani fixed-point theorem to the set-valued operator, under the most general assumptions, we prove that the model has a short-run equilibrium.

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jnddns:2193070

DOI: 10.1155/2018/2193070

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