【摘要】 不完全市场一般均衡分析框架使我们更加了解现实金融市场中资产价格的形成机制,使用带有惩罚函数的同伦跟踪算法计算不完全市场经济一般均衡模型均衡(GEI),有效地克服了由于市场不完全引起的消费者资产组合无限扩张和需求函数不连续等传统GEI模型计算所固有的困难。更多还原

【Abstract】 GRI model makes it possible for us to study more profoundly the influence of goods and financial market on consumption and investment. This paper sets up a general equilibrium model with a penalty function on the asset markets. These penalties lead to implicit bounds on the optimal asset transactions, eliminating any incentive for agents to inflate their portfolios of assets and ensuring that demand functions are smooth, so hometopy -path-following algorithm can be used. Through two examples, we show the reliability of this method.更多还原