When Are Comparative Dynamics Monotone?

Mark Huggett

Review of Economic Dynamics, 2003, vol. 6, issue 1, 1-11

Abstract: A common problem in dynamic economic theory is to determine when an increase in a parameter and/or an initial condition increases the future dynamics of a theoretical economy. This paper provides conditions that are necessary and sufficient for making statements of this type. The result is applicable to situations with a single agent or with many agents in the presence or absence of uncertainty. The result holds for general notions of what it means for a parameter, an initial condition or even the dynamics of a model to be increasing. (Copyright: Elsevier)

Keywords: Comparative dynamics; recursive models; monotonicity. (search for similar items in EconPapers)
JEL-codes: C60 D90 (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (16)

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DOI: 10.1016/S1094-2025(02)00005-4

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