When are Comparative Dynamics Monotone?

Mark Huggett

Working Papers from Georgetown University, Department of Economics

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.

JEL-codes: C60 D90 (search for similar items in EconPapers)
Date: 2003-03-12
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Citations: View citations in EconPapers (14)

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Journal Article: When Are Comparative Dynamics Monotone? (2003)
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