Regularity of a general equilibrium in a model with infinite past and future

Alexander Gorokhovsky, Anna Rubinchik

Research output: Contribution to journalArticlepeer-review


We develop easy-to-verify conditions to assure that a comparative statics exercise in a dynamic general equilibrium model is feasible, i.e., the implicit function theorem is applicable. Consider an equilibrium equation, ϒ(k,E)=k of a model where an equilibrium variable (k) is a continuous bounded function of time, real line, and the policy parameter (E) is a locally integrable function of time. The key conditions are time invariance of ϒ and the requirement that the Fourier transform of the derivative of ϒ with respect to k does not return unity. Further, in a general constant-returns-to-scale production and homogeneous life-time-utility overlapping generations model we show that the first condition is satisfied at a balanced growth equilibrium and the second condition is satisfied for “almost all” policies that give rise to such equilibria.

Original languageEnglish
Pages (from-to)35-45
Number of pages11
JournalJournal of Mathematical Economics
StatePublished - Jan 2018

Bibliographical note

Publisher Copyright:
© 2017 Elsevier B.V.


  • Comparative statics
  • Determinacy
  • Implicit function theorem
  • Overlapping generations
  • Time-invariance

ASJC Scopus subject areas

  • Economics and Econometrics
  • Applied Mathematics


Dive into the research topics of 'Regularity of a general equilibrium in a model with infinite past and future'. Together they form a unique fingerprint.

Cite this