Existence and Uniqueness of a Fixed Point for Local Contractions

V. Filipe Martins-da-Rocha and Yiannis Vailakis

Econometrica, 2010, vol. 78, issue 3, 1127-1141

Abstract: This paper proves the existence and uniqueness of a fixed point for local contractions without assuming the family of contraction coefficients to be uniformly bounded away from 1. More importantly it shows how this fixed-point result can apply to study the existence and uniqueness of solutions to some recursive equations that arise in economic dynamics. Copyright 2010 The Econometric Society.

Date: 2010
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Working Paper: Existence and uniqueness of a fixed-point for local contractions (2008)
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