On the Existence and Representation of Equilibrium in an Economy with Growth and Nonstationary Consumption
将Lucas（1978）资产定价模型推广到允许非平稳消费的情形，定义了该设定下的均衡，并证明了其作为竞争均衡的存在性与表示，有助于基于消费的资产定价模型的实证检验。
In this paper we generalize Lucas* (1978) asset pricing model to allow for nonstationary consumption.We define the equilibrium in this setting and demonstrate its existence and representation as a competitive equilibrium.These extensions, we believe will facilitate the empirical testing of consumption based asset pricing models in the Lucas-Prescott research tradition.