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On the Equilibrium Properties of Network Models with Heterogeneous Agents / Treb Allen, Costas Arkolakis, Xiangliang Li.
- Format:
- Book
- Author/Creator:
- Allen, Treb.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w27837.
- NBER working paper series no. w27837
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2020.
- Summary:
- We consider a broad class of spatial models where there are many types of interactions across a large number of locations. We provide a new theorem that offers an iterative algorithm for calculating an equilibrium and sufficient and "globally necessary" conditions under which the equilibrium is unique. We show how this theorem enables the characterization of equilibrium properties for two important spatial systems: an urban model with spillovers across a large number of different types of agents and a dynamic migration model with forward looking agents. An Online Appendix provides eleven additional examples of both spatial and non-spatial economic frameworks for which our theorem provides new equilibrium characterizations.
- Notes:
- Print version record
- September 2020.
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