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Uniqueness of an Equilibrium in Infinite-Horizon Economies Subject to Taxes and Externalities

Publication ,  Journal Article
Coleman, WJ
Published in: Journal of Economic Theory
January 1, 2000

This paper verifies the uniqueness of an equilibrium for a class of stochastic infinite-horizon economies with capital that are subject to distortionary taxes or externalities. The proof develops the property of concavity for a nonlinear monotone operator whose fixed points correspond to equilibria. As the underlying monotone operator has been useful for establishing the existence of an equilibrium, and for computing an equilibrium, this approach also brings under one roof the study of existence, uniqueness, and approximation of an equilibrium in distorted economies. Journal of Economic Literature Classification Numbers: C60, H20. © 2000 Academic Press.

Duke Scholars

Published In

Journal of Economic Theory

DOI

ISSN

0022-0531

Publication Date

January 1, 2000

Volume

95

Issue

1

Start / End Page

71 / 78

Related Subject Headings

  • Economic Theory
  • 3803 Economic theory
  • 3801 Applied economics
  • 1499 Other Economics
  • 1401 Economic Theory
 

Citation

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Chicago
ICMJE
MLA
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Coleman, W. J. (2000). Uniqueness of an Equilibrium in Infinite-Horizon Economies Subject to Taxes and Externalities. Journal of Economic Theory, 95(1), 71–78. https://doi.org/10.1006/jeth.2000.2679
Coleman, W. J. “Uniqueness of an Equilibrium in Infinite-Horizon Economies Subject to Taxes and Externalities.” Journal of Economic Theory 95, no. 1 (January 1, 2000): 71–78. https://doi.org/10.1006/jeth.2000.2679.
Coleman WJ. Uniqueness of an Equilibrium in Infinite-Horizon Economies Subject to Taxes and Externalities. Journal of Economic Theory. 2000 Jan 1;95(1):71–8.
Coleman, W. J. “Uniqueness of an Equilibrium in Infinite-Horizon Economies Subject to Taxes and Externalities.” Journal of Economic Theory, vol. 95, no. 1, Jan. 2000, pp. 71–78. Scopus, doi:10.1006/jeth.2000.2679.
Coleman WJ. Uniqueness of an Equilibrium in Infinite-Horizon Economies Subject to Taxes and Externalities. Journal of Economic Theory. 2000 Jan 1;95(1):71–78.
Journal cover image

Published In

Journal of Economic Theory

DOI

ISSN

0022-0531

Publication Date

January 1, 2000

Volume

95

Issue

1

Start / End Page

71 / 78

Related Subject Headings

  • Economic Theory
  • 3803 Economic theory
  • 3801 Applied economics
  • 1499 Other Economics
  • 1401 Economic Theory