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Uniqueness of equilibrium in a Bewley–Aiyagari model

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Economic Theory, 2020, vol. 69, issue 2, No 6, 435-450

Abstract: 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)
Date: 2020
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DOI: 10.1007/s00199-018-1167-z

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