Recursive Competitive Equilibrium in Multi-Sector Economies
扩展了Mehra和Prescott的递归竞争均衡理论，将其应用于存在流动成本的多部门经济，通过引入彩票来证明均衡分配可通过递归规划求解，对研究经济动态和资源配置的学者有参考价值。
This paper extends the theory of recursive competitive equilibrium developed by Mehra and Prescott (1980) to a class of multisector economies in which mobility is costly. By introducing l otteries into the consumption sets of individuals, it is shown that e quilibrium allocations can be obtained as the solution to a recursive programming problem. The Lucas and Prescott (1974) search environmen t is a special case of the environment studied here. Copyright 1988 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.