Existence and uniqueness of equilibrium in a distorted dynamic small open economy

Manjira Datta

Economics Letters, 2017, vol. 152, issue C, 19-22

Abstract: We provide a set of sufficient conditions for existence and uniqueness of recursive equilibrium for a class of small open economies with distortion. The second welfare theorem is not available in this framework and usual approach for studying optimal neoclassical growth models is also not applicable.

Keywords: Externality; Nonoptimal growth; Recursive equilibrium; Small open economy (search for similar items in EconPapers)
JEL-codes: C62 D62 D90 E19 F40 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:152:y:2017:i:c:p:19-22

DOI: 10.1016/j.econlet.2016.12.001

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