Testable restrictions on the equilibrium manifold
Testable restrictions on the equilibrium manifold
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DOI：
10.2307/2171830
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发表时间：
1996-11-01
期刊：
影响因子：
6.1
通讯作者：
Matzkin, RL
中科院分区：
文献类型：
--
作者：
Brown, DJ;Matzkin, RL
我们提出了一个有限系统的多项式不等式在不可观测的变量和市场数据，观察市场价格，个人收入和总禀赋必须满足一些纯贸易经济的均衡行为是一致的。量词消除是用来获得有限的纯贸易模型的数据集上的可测试的限制。还提供了与罗宾逊克鲁索经济一致的总禀赋和市场价格的观察表征。
We present a finite system of polynomial inequalities in unobservable variables and market data that observations on market prices, individual incomes, and aggregate endowments must satisfy to be consistent with the equilibrium behavior of some pure trade economy. Quantifier elimination is used to derive testable restrictions on finite data sets for the pure trade model. A characterization of observations on aggregate endowments and market prices that are consistent with a Robinson Crusoe's economy is also provided.