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Smooth infinite economies

Chichilnisky, Graciela; Zhou, Yuqing

Equilibrium conditions in smooth infinite economies with separable utilities are described by Fredholm maps, which are Frechet differentiable. Therefore, Smale's extension of Sard's theorem can be used to study infinite economies. We study structural stability and local uniqueness of equilibrium in smooth infinite economies and relate the theory of markets to modern Fredholm theory.

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Academic Units
Economics
Publisher
Department of Economics, Columbia University
Series
Department of Economics Discussion Papers, 9596-17
Published Here
March 2, 2011

Notes

May 1996

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