Working Paper: NBER ID: w12433
Authors: Rajnish Mehra
Abstract: In this article we define a Recursive Competitive Equilibrium, provide an example and review the related literature. The article is an entry prepared for The New Palgrave: A Dictionary of Economics, 2nd Edition (Palgrave Macmillan: New York).
Keywords: No keywords provided
JEL Codes: D5; D51; D53; D61; D91; D92; E21; E22; E23; G12
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| existence of price sequences (E30) | optimization behaviors of agents (L21) |
| decision rules (D81) | Pareto optimal allocations (D61) |
| technological shocks (O33) | decision rules (D81) |
| actions of consumers and firms (D22) | allocations in RCE (D61) |
| recursive structure (C69) | identification of equilibria (D50) |
| allocations in RCE (D61) | competitive equilibria (D50) |