On the Existence of Nonoptimal Equilibria in Dynamic Stochastic Economies
研究标准新古典增长模型在存在扭曲（如税收、外部性、垄断竞争）时，非平凡稳态均衡的存在条件，给出了简单直观的条件和基础的存在性证明，对研究经济扭曲的学者有参考价值。
The question of the existence of the stationary equilibrium for distorted versions of the standard neo-classical growth model is addressed in this paper. The conditions presented guaranteeing the existence of nontrivial equilibrium for the class of economies under study are simple and intuitively appealing, while the existence proof developed is elementary. Examples are given illustrating that economies with distortional taxation, endogenous growth with externalities, and monopolistic competition can all fit into the framework provided. Journal of Economic Literature Classification Numbers: C62, E30, E60.