EconPapers    
Economics at your fingertips  
 

Real indeterminacy of equilibria in a sunspot economy with inside money

Shinichi Suda, Jean-Marc Tallon () and Antonio Villanacci
Additional contact information
Shinichi Suda: Department of Economics - University of Pennsylvania [Philadelphia]
Antonio Villanacci: DIMADEFAS, Università degli Studi di Firenze - Università degli Studi di Firenze [Firenze]

Post-Print from HAL

Abstract: In a two-period sunspot economy with inside money andS possible realizations of the sunspot, we prove that, genetically in the space of utility functions, there areS — 1 degrees of real indeterminacy. This result generalizes the previously known result for sunspot models that, generically in endowments, there is at least one degree of real indeterminacy. The proof involves showing that generically the equilibrium allocation is different across states for some household. This property allows us to perturb the utility function in a simple way and to apply standard transversality arguments to prove our main theorem.

Keywords: equilibria; in; a; sunspot; economy (search for similar items in EconPapers)
Date: 1992-09
Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00499388
References: Add references at CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed

Published in Economic Theory, Springer Verlag, 1992, 2 (3), pp.309-319. ⟨10.1007/BF01211419⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Journal Article: Real Indeterminacy of Equilibria in a Sunspot Economy with Inside Money (1992)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00499388

DOI: 10.1007/BF01211419

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().

 
Page updated 2020-01-21
Handle: RePEc:hal:journl:halshs-00499388