Essential properties of Lp,q spaces (the amalgams) and the implicit function theorem for equilibrium analysis in continuous time

B-Tier
Journal: Journal of Mathematical Economics
Year: 2014
Volume: 50
Issue: C
Pages: 187-196

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

To extend the analysis of continuous-time general-equilibrium macro models we study 2 parameter variants Lp,q of the Lebesgue spaces, thus gaining separate control on the asymptotic behaviour (p) and the local behaviour (q): they behave w.r.t.  p like the spaces ℓp and w.r.t.  q like the spaces Lq on a probability space. Such spaces might naturally contain equilibrium variables (paths) as well as time-dependent policies of a macro model. Convolution behaves very well on those spaces, which can be used as a basis for the classical “comparative statics” (see e.g.  Mertens and Rubinchik (2011)). Finally, we generalise the classical implicit function theorem (ift) for a family of Banach spaces, with the resulting implicit function having derivatives that are locally Lipschitz to very strong operator norms.

Technical Details

RePEc Handle
repec:eee:mateco:v:50:y:2014:i:c:p:187-196
Journal Field
Theory
Author Count
2
Added to Database
2026-01-26