Characterization, Computation, and Multiplicity of Intertemporal Economics Equilibria

跨期经济均衡的表征、计算和多重性

• 批准号: 8922036
• 负责人: Timothy Kehoe
• 金额: $ 8.92万
• 依托单位: University of Minnesota Saint Paul
• 依托单位国家: 美国
• 项目类别: Continuing Grant
• 财政年份: 1990
• 资助国家: 美国
• 起止时间: 1990-02-15 至 1993-01-31
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=8922036&HistoricalAwards=false
• 关键词: Characterization; Computation; Multiplicity; Intertemporal; Economics

The goal of this research is to analyze the equilibria of economies in which time and uncertainty play important roles. A new class of economies with limited insurance possibilities is proposed. In these economies, the operation of asset markets is subject only to endogenous constraints on the level of debt consumers can accumulate. Analyzing economies of this type will provide an alternative to studying models with incomplete markets or models with private information for explaining the observed correlation between fluctuations in individual consumption and individual income. The project will also develop efficient algorithms for computing the equilibria of such economies. In addition, the possibility of taxes and externalities causing the multiplicity of market equilibria will analyzed. This research is important because it will provide new tools for computing equilibria in an economic system which will enhance our fundamental understanding of how market economies work.

本研究的目的是分析时间和不确定性起重要作用的经济均衡。提出了一类保险可能性有限的新经济体。在这些经济体中，资产市场的运行只受到消费者可以积累的债务水平的内生约束。分析这种类型的经济将提供一种替代方法，以研究具有不完全市场的模型或具有私人信息的模型，以解释观察到的个人消费和个人收入波动之间的相关性。该项目还将开发有效的算法来计算这些经济体的均衡。此外，本文还分析了税收和外部性导致市场均衡多样性的可能性。这项研究很重要，因为它将为计算经济系统中的均衡提供新的工具，这将增强我们对市场经济如何运作的基本理解。