Uniqueness of equilibrium in a Bewley–Aiyagari model
Bar Light ()
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Bar Light: Stanford University
Economic Theory, 2020, vol. 69, issue 2, No 6, 435-450
Abstract I establish the uniqueness of a stationary equilibrium in a Bewley–Aiyagari model when the agents’ utility function exhibits constant relative risk aversion bounded above by 1 and the production function exhibits a certain gross substitute property.
Keywords: Bewley–Aiyagari model; Uniqueness of equilibrium; heterogeneous agents; Aggregate savings; Stationary equilibrium (search for similar items in EconPapers)
JEL-codes: D52 D90 E21 (search for similar items in EconPapers)
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