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Andrea Loi and Stefano Matta
''Structural stability and catastrophes.''
( 2012, Vol. 32 No.4 )
We show that, in a pure exchange smooth economy, a redistribution of endowments involving singular economies can be supported by a unique and continuous path of supporting equilibrium price vectors if this redistribution is the projection of a path on the equilibrium manifold transversal to the set of critical equilibria.
Keywords: Equilibrium manifold, regular equilibria, catastrophes, structural stability, smooth selection of prices.
JEL: D5 - General Equilibrium and Disequilibrium: General
C6 - Mathematical Methods and Programming: General
Manuscript Received : Jul 31 2012 Manuscript Accepted : Dec 12 2012

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