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On stationary recursive equilibria and nondegenerate state spaces: The Huggett model

Kam, Timothy; Lee, Junsang


The seminal work of Huggett (1993) showed that in a stationary recursive equilibrium, there exists a unique stationary distribution of agent types. However, the question remains open as to whether an equilibrium's individual state space might turn out to

CollectionsANU Research Publications
Date published: 2014
Type: Journal article
Source: Journal of Mathematical Economics
DOI: 10.1016/j.jmateco.2013.09.009


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