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- W2050333558 abstract "In existing literature, there are few concrete examples of multiple equilibria and the only ones known to us have 3 equilibria, but multiplicity remains a major concern for applied models used in policy work. Here, we report numerical examples for a 3 individual 2 good CES/LES pure exchange economy directly calibrated to 5 equilibria. We are able to use analytical methods of the model to show that for certain parameterizations there are no more than 5 equilibria (given the parameter values). We are also able to explore the size of the regions of the parameter space for which 5 equilibria persist, and show these ranges to be very small. Other features of the equilibrium manifolds are explored. Findings are only suggestive and indicative for the special cases we consider rather than definitive, but informative relative to existing work." @default.
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- W2050333558 date "1985-11-01" @default.
- W2050333558 modified "2023-10-16" @default.
- W2050333558 title "Uniqueness of equilibrium in large-scale numerical general equilibrium models" @default.
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- W2050333558 doi "https://doi.org/10.1016/0047-2727(85)90072-6" @default.
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