5,689 research outputs found

    Regular Infinite Economies

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    The main contribution of this paper is to place smooth infinite economies in the setting of the equilibrium manifold and the natural projection map à la Balasko. We show that smooth infinite economies have an equilibrium set that has the structure of a Banach manifold and that the natural projection map is smooth. We define regular and critical economies, and regular and critical prices, and we show that the set of regular economies coincides with the set of economies whose excess demand function has only regular prices. Generic determinacy of equilibria follows as a by-product.General equilibrium, Infinite economies, Intertemporal choice, Uncertainty.

    The Number of Equilibria of Smooth Infinite Economies

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    We construct an index theorem for smooth infinite economies that shows that generically the number of equilibria is odd. As a corollary, this gives a new proof of existence and gives conditions that guarantee global uniqueness of equilibria.Uniqueness; determinacy; equilibria; infinite economy; Fredholm map; equilibrium manifold; index theorem; Z-Rothe vector field.

    Necessary and sufficient conditions for global uniqueness of equilibria

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    We study the problem of finding necessary and sufficient conditions that guarantee global uniqueness of equilibria in a pure exchange economy. We show that for every economy to have a unique equilibrium it is necessary and sufficient that (i) there are no critical economies and (ii) a compact set of economies has a compact set of equilibria.general equilibrium, invertibility, global uniqueness, critical economy, regular economy, equilibrium manifold, natural projection, diffeomorphism, Jacobian

    The Equilibrium Set of Economies with a Continuous Consumption Space

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    We study global properties of the equilibrium set of economies with a continuous consumption space. This framework is important in intertemporal allocation problems (continuous or infinite time), financial markets with uncertainty (continuous states of nature) and commodity differentiation. We show that the equilibrium set is contractible which implies that (i) there is a continuous economic policy linking any two equilibrium states, and (ii) any two such economic policies can be continuously deformed one into the other. We also give three equivalent formulations of the problem of global uniqueness of equilibria in terms of the projection map from the equilibrium set to the space of parameters. We finally study the local and global effects that the existence of critical economies has on the equilibrium set.General equilibrium, infinite economies, intertemporal choice, uncertainty.

    The number of equilibria of smooth infinite economies with separable utilities

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    We construct an index theorem for smooth infinite economies with separable utilities that shows that generically the number of equilbria is odd. As a corollary, this gives a new proof of existence and gives conditions that guarantee global uniqueness of equilibria.Uniqueness; determinacy; equilibria; infinite economy; Fredholm map; equilibrium manifold; Banach manifold; index theorem; vector field; Rothe

    Determinacy of equilibria of smooth infinite economies

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    This paper deals with generic determinacy of equilibria for infinite dimensional consumption spaces. Our work could be seen as an infinite-dimensional analogue of Dierker and Dierker (1972), by characterising equilibria of an economy as a zero of the aggregate excess demand, and studying its transversality. In this case, we can use extensions of the transversality density theorem. Assuming separable utilities, we give a new proof of generic determinacy of equilibria. We define regular price systems in this setting and show that an economy is regular if and only if its associated excess demand function only has regular equilibrium prices. We also define the infinite equilibrium manifold and show that it has the structure of a Banach manifold.Determinacy, equilibria, infinite economies, Fredholm maps, equilibrium manifold, Banach manifolds

    Gender and trade: a review of theory and evidence

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    Kilómetro 0: inicio de las trayectorias migratorias de trabajadoras domésticas en Chile

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    This study aims to describe how the migratory trajectories of migrant domestic workers begin in Chile and the role of migratory networks and emotional factors in their decisions. A qualitative analysis of six biographical narratives is employed to examine the complexities of their labor and migratory trajectories, influenced by intersecting factors such as gender, class, and ethnicity, within the context of global care chains. The results reveal five central moments when making the decision to migrate. The first moment is characterized by the fact that none of the cases had worked as domestic workersin their home countries. In the second moment, the need to change their circumstances in their home countries arises, often due to political crises, economic challenges, or gender-based violence. The third moment involves the existence of a migratory network of friends and family who assist in their journey.In the fourth moment, a significant emotional factor plays a central role in the decision to migrate, influencing the timing of the decision. Finally, in the fifth moment, the decision to migrate to Chile is made.Este estudio busca describir cómo se inician las trayectorias migratorias de las Trabajadoras de Casa Particular Migrantes (TCP) en Chile, y el papel de las redes migratorias y elementos afectivos en sus decisiones. A través de un análisis cualitativo de seis narrativas biográficas, se exploran las complejidades de sus trayectorias laborales y migratorias, las cuales están atravesadas por factores interseccionales como género, clase y etnicidad, en el contexto de cadenas globales de cuidado.Los resultados revelan cinco momentos centrales en la toma de decisiones de migrar. En primer lugar, en ninguno de los casos las trabajadoras se habían desempeñado como trabajadoras domésticas en sus países de origen. En segundo lugar, surge la necesidad de cambiar una realidad vivida en sus territorios, como crisis políticas, económicas o violencia de género. En tercer lugar, existe una red migratoria de amigos y familiares que les ayuda a transitar esta trayectoria. En cuarto lugar, destaca la existencia de un factor afectivo central al momento de tomar la decisión de migrar, el cual marca la temporalidad de esta decisión. Finalmente, en quinto lugar, se toma la decisión de migrar a Chile. El principal resultado de esta investigación es que la decisión temporal de migrar corresponde a una decisión afectiva, más allá de los elementos laborales y económicos descritos previamente por la literatura
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