Supply-constrained fixed price equilibria in monetary economies (Q1057769): Difference between revisions
From MaRDI portal
Set OpenAlex properties. |
ReferenceBot (talk | contribs) Changed an Item |
||
Property / cites work | |||
Property / cites work: Neo-Keynesian Disequilibrium Theory in a Monetary Economy / rank | |||
Normal rank | |||
Property / cites work | |||
Property / cites work: Q5588318 / rank | |||
Normal rank | |||
Property / cites work | |||
Property / cites work: On supply-constrained equilibria / rank | |||
Normal rank | |||
Property / cites work | |||
Property / cites work: Existence of an Exchange Equilibrium under Price Rigidities / rank | |||
Normal rank | |||
Property / cites work | |||
Property / cites work: Unemployment equilibrium in an economy with linked prices / rank | |||
Normal rank | |||
Property / cites work | |||
Property / cites work: Equilibrium under Rigid Prices with Compensation for the Consumers / rank | |||
Normal rank | |||
Property / cites work | |||
Property / cites work: Simplicial approximation of unemployment equilibria / rank | |||
Normal rank | |||
Property / cites work | |||
Property / cites work: Q4070959 / rank | |||
Normal rank |
Latest revision as of 17:36, 14 June 2024
scientific article
Language | Label | Description | Also known as |
---|---|---|---|
English | Supply-constrained fixed price equilibria in monetary economies |
scientific article |
Statements
Supply-constrained fixed price equilibria in monetary economies (English)
0 references
1984
0 references
The main purpose of this paper is to prove the existence of supply- constrained equilibria in which money is not rationed. In such equilibria there is no demand rationing. According to the author such nonsymmetric treatment corresponds to the observation that rationing of supplies occurs much more frequently than rationing of demands. More specifically, by considering a simplified version of the Dehez-Dreze model [see the author, ibid. 9, 83-97 (1982; Zbl 0471.90030)], the author obtains the following results. First, if prices of the index makers are fixed, their result is strengthened in the sense that the statement 'there is a non- money commodity with non-zero rationing' is replaced by 'there is an unrationed non-money commodity.' Apparently, the difference between these two statements does not seem so great as the author thinks. Next, in the case that the prices are free, the theorem of \textit{M. Kurz} [J. Econ. Theory 26, 100-123 (1982; Zbl 0512.90021)] is strengthened in the sense that unlike his model, money is not rationed in equilibrium.
0 references
monetary economies
0 references
existence of supply-constrained equilibria
0 references
rationing
0 references