On Endogenous Compactness of the Individual State Space in the Huggett Model

Timothy Kam

ANU Working Papers in Economics and Econometrics from Australian National University, College of Business and Economics, School of Economics

Abstract: One of the sufficient conditions for existence and uniqueness of a stationary distribution of agents in the Huggett [1993] model is the requirement that the space of individual states be a compact metric space. In this note, we reinforce the proof of Lemma 3 in Huggett [1993] by showing that two additional contrary hypotheses must first be ruled out, toward the construction of the proof that the individual state space is endogenously compact.

JEL-codes: C62 D31 D52 (search for similar items in EconPapers)
Pages: 7 Pages
Date: 2010-02
New Economics Papers: this item is included in nep-dge
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Persistent link: https://EconPapers.repec.org/RePEc:acb:cbeeco:2010-513

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