Existence and Uniqueness of a Fixed Point for Local Contractions

• 成果类型: Article
• 署名作者: Martins-da-Rocha, V. Filipe; Vailakis, Yiannis
• 署名单位: Getulio Vargas Foundation; University of Exeter
• 刊物名称: ECONOMETRICA
• ISSN/ISSBN: 0012-9682
• DOI: 10.3982/ECTA7920
• 发表日期: 2010
• 页码: 1127-1141
• 关键词: Recursive utility; optimal-growth

摘要

This paper proves the existence and uniqueness of a fixed point for local contractions without assuming the family of contraction coefficients to be uniformly bounded away from 1. More importantly it shows how this fixed-point result can apply to study the existence and uniqueness of solutions to some recursive equations that arise in economic dynamics.