Market Distortion in Equilibrium Analysis and Comparative Statistics

9321022香农在理论和政策导向的研究中，市场缺陷(如外部性)的重要性怎么强调都不为过。宏观经济学中的许多最重要的问题，比如确定影响长期增长的因素，或者解释观察到的各国增长和发展速度的差异，要么无法有意义地提出，要么无法令人满意地回答，除非将生产和资本积累的外部性或扭曲的政府税收和支出等市场缺陷纳入增长理论。然而，大多数工作都是在高度专业化的模型中解决这些问题，例如代表性的代理模型，或者具有参数指定的时间可分离偏好和技术的模型。如果这些模型被干扰，以允许在技术偏好上跨时期进行更多交互，那么是否有必要进行全新的分析？这一新分析得出的结论是否截然不同？这个项目的目的是对这些同样的问题获得可靠的答案，这些问题依赖于对偏好或生产技术的假设尽可能少。这是通过研究具有外部性和无限商品数量的一般均衡模型中均衡的存在性、比较统计学和确定性来实现的。该项目还为潜在的市场扭曲或不完善问题开发了比较静态分析的新方法。

9321022 Shannon The importance of market imperfections such as externalities in both theoretical and policy-oriented research can hardly be overstated. Many of the most important questions in macroeconomics, such as determining the factors that affect long- term growth or explaining observed differences in growth and development rates across countries, either could not be meaningfully posed or could not be satisfactorily answered until market imperfections such as externalities in production and capital accumulation or distortionary government taxing and spending were incorporated into growth theory. However, most of this work addresses these issues in highly specialized models such as representative agent models, or models with parametricly specified time separable preferences and technologies. If these models are perturbed to allow for more interaction across periods in preferences of technologies, is an entirely new analysis necessary? Are conclusions of this new analysis radically different? The purpose of this project is to obtain robust answers to these same questions which depend as little as possible on assumptions about preferences or production technologies. This is done by studying the existence, comparative statistics, and determinacy of equilibria in general equilibrium models with externalities and an infinite number of commodities. The project also develops new methods for comparative statics analysis in problems with potential market distortions or imperfections.