论文标题

单身和吸引力:单调性假设下的经济平衡的独特性和稳定性

Single and Attractive: Uniqueness and Stability of Economic Equilibria under Monotonicity Assumptions

论文作者

Bifulco, Patrizio, Glück, Jochen, Krebs, Oliver, Kukharskyy, Bohdan

论文摘要

本文的特征是广泛的经济模型的平衡特性,这些模型允许多种异质代理在几个市场上以异质性方式相互作用。我们的关键贡献是一种新的定理,为这类模型提供了足够的条件,以实现平衡的独特性和稳定性。为了说明我们定理的适用性,我们表征了两个常用的定量贸易模型的一般平衡特性。具体而言,我们的分析提供了在多个领域的多国贸易模型中平衡的独特性和稳定性的第一个证明,或(ii)在其劳动成本份额方面的异质性。这些示例还为未来的研究提供了一个实用的工具包,以了解如何应用我们的定理来在广泛的经济模型中建立平衡的独特性和稳定性。

This paper characterizes equilibrium properties of a broad class of economic models that allow multiple heterogeneous agents to interact in heterogeneous manners across several markets. Our key contribution is a new theorem providing sufficient conditions for uniqueness and stability of equilibria in this class of models. To illustrate the applicability of our theorem, we characterize the general equilibrium properties of two commonly used quantitative trade models. Specifically, our analysis provides a first proof of uniqueness and stability of the equilibrium in multi-country trade models featuring (i) multiple sectors, or (ii) heterogeneity across countries in terms of their labor cost shares. These examples also provide a practical toolkit for future research on how our theorem can be applied to establish uniqueness and stability of equilibria in a broad set of economic models.

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