Loi, Andrea and Matta, Stefano (2009): A note on the structural stability of the equilibrium manifold.

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Abstract
In a smooth pure exchange economy with fixed total resources we investigate whether the smooth selection property holds when endowments are redistributed across consumers through a continuous (non local) redistribution policy. We show that if the policy is regular then there exists a unique continuous path of equilibrium prices which support it. If singular economies are involved in the redistribution, then an analogous result can be obtained if the singular policy is the projection of a path transversal to the set of critical equilibria.
Item Type:  MPRA Paper 

Original Title:  A note on the structural stability of the equilibrium manifold 
Language:  English 
Keywords:  Equilibrium manifold, regular equilibria, catastrophes, structural stability, smooth selection of prices 
Subjects:  D  Microeconomics > D5  General Equilibrium and Disequilibrium > D50  General D  Microeconomics > D5  General Equilibrium and Disequilibrium > D51  Exchange and Production Economies 
Item ID:  15507 
Depositing User:  Stefano Matta 
Date Deposited:  04. Jun 2009 06:23 
Last Modified:  12. Feb 2013 22:14 
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URI:  http://mpra.ub.unimuenchen.de/id/eprint/15507 