Sensitivity analysis for applied general equilibrium models in the presence of multiple Walrasian equilibria

被引：0

作者：

Marcus Berliant

Sami Dakhlia

机构：

[1] Department of Economics,

[2] Washington University in St.Louis,undefined

[3] St.Louis,undefined

[4] MO 63130-4899,undefined

[5] USA (e-mail: berliant@wueconc.wustl.edu),undefined

[6] Department of Economics,undefined

[7] Culverhouse College of Business Administration,undefined

[8] University of Alabama,undefined

[9] Tuscaloosa,undefined

[10] AL 35487-0224,undefined

[11] USA (e-mail: sdakhlia@cba.ua.edu),undefined

来源：

Economic Theory | 2002年 / 19卷

关键词：

Keywords and Phrases: Sensitivity analysis, Delta-method, General equilibrium models, Non-uniqueness, Multiplicity.; JEL Classification Numbers: C10, C68, D58.;

D O I：

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学科分类号：

摘要：

Pagan and Shannon's (1985) widely used approach employs local linearizations of a system of non-linear equations to obtain asymptotic distributions for the endogenous parameters (such as prices) from distributions over the exogenous parameters (such as estimates of taste, technology, or policy variables, for example). However, this approach ignores both the possibility of multiple equilibria as well as the problem (related to that of multiplicity) that critical points might be contained in the confidence interval of an exogenous parameter.

引用

页码：459 / 476

页数：17

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