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Title: Robust Comparative Statics in Large Dynamic Economies
Authors: Acemoglu, D.
Jensen, Martin Kaae
First Published: 1-Jun-2015
Publisher: University of Chicago Press
Citation: Journal of Political Economy, 2015, 123 (3), pp. 587-640 (54)
Abstract: We consider infinite-horizon economies populated by a continuum of agents subject to idiosyncratic shocks. This framework contains models of saving and capital accumulation with incomplete markets in the spirit of works by Bewley, Aiyagari, and Huggett; models of entry, exit, and industry dynamics in the spirit of Hopenhayn’s work; and dynamic models of occupational choice and search models as special cases. Robust and easy-to-apply comparative statics results are established with respect to exogenous parameters as well as various kinds of changes in the Markov processes governing the law of motion of the idiosyncratic shocks.
DOI Link: 10.1086/680685
ISSN: 0022-3808
Version: Post-print
Status: Peer-reviewed
Type: Journal Article
Rights: Copyright © 2015 by The University of Chicago. All rights reserved.
Description: The file associated with this record is under a 12-month embargo from publication in accordance with the publisher's self-archiving policy, available at The full text may be available in the publisher links provided above.
Appears in Collections:Published Articles, Dept. of Economics

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