The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Recursive Competitive Equilibrium

  • Rajnish Mehra
Reference work entry


In this article we define a recursive competitive equilibrium, provide an example and review the related literature.


Arrow–Debreu model of general equilibrium Bellman’s principle of optimality Business cycles Dynamic decentralization Markov processes Neoclassical stochastic growth model Optimality Recursive competitive equilibrium Time-invariant equilibrium decision rules Total factor productivity Valuation equilibrium 

JEL Classifications

D4 D10 
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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Rajnish Mehra
    • 1
  1. 1.