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Introduction to general equilibrium

Author

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  • Balasko, Yves
  • Geanakoplos, John

Abstract

This introduces the symposium on general equilibrium.

Suggested Citation

  • Balasko, Yves & Geanakoplos, John, 2012. "Introduction to general equilibrium," Journal of Economic Theory, Elsevier, vol. 147(2), pages 400-406.
    • Handle: RePEc:eee:jetheo:v:147:y:2012:i:2:p:400-406
    DOI: 10.1016/j.jet.2012.01.022
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    References listed on IDEAS

    as
    1. Bottazzi, Jean-Marc & Luque, Jaime & Páscoa, Mário R., 2012. "Securities market theory: Possession, repo and rehypothecation," Journal of Economic Theory, Elsevier, vol. 147(2), pages 477-500.
    2. Cass, David, 1972. "On capital overaccumulation in the aggregative, neoclassical model of economic growth: A complete characterization," Journal of Economic Theory, Elsevier, vol. 4(2), pages 200-223, April.
    3. Villanacci, Antonio & Zenginobuz, Ünal, 2012. "Subscription equilibrium with production: Non-neutrality and constrained suboptimality," Journal of Economic Theory, Elsevier, vol. 147(2), pages 407-425.
    4. Gabrielle Demange, 2002. "On optimality in intergenerational risk sharing," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 20(1), pages 1-27.
    5. Fostel, Ana & Geanakoplos, John, 2012. "Why does bad news increase volatility and decrease leverage?," Journal of Economic Theory, Elsevier, vol. 147(2), pages 501-525.
    6. Balasko, Yves & Cass, David, 1989. "The Structure of Financial Equilibrium with Exogenous Yields: The Case of Incomplete Markets," Econometrica, Econometric Society, vol. 57(1), pages 135-162, January.
    7. Yves Balasko & David Cass & Karl Shell, 1995. "Market Participation and Sunspot Equilibria," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 62(3), pages 491-512.
    8. Yves Balasko, 2007. "Out-of-equilibrium price dynamics," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 33(3), pages 413-435, December.
    9. Cass, David & Shell, Karl, 1983. "Do Sunspots Matter?," Journal of Political Economy, University of Chicago Press, vol. 91(2), pages 193-227, April.
    10. Balasko, Yves & Shell, Karl, 1980. "The overlapping-generations model, I: The case of pure exchange without money," Journal of Economic Theory, Elsevier, vol. 23(3), pages 281-306, December.
    11. Balasko, Yves, 2012. "On the stability of nonsunspot equilibria," Journal of Economic Theory, Elsevier, vol. 147(2), pages 526-544.
    12. Jean-Marc Bottazzi & Jaime Luque & Mário R. Páscoa, 2012. "Securities market theory: Possession, repo and rehypothecation," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-01648216, HAL.
    13. Jean-Marc Bottazzi & Jaime Luque & Mário Páscoa, 2012. "Securities market theory: Possession, repo and rehypothecation," Post-Print hal-00665629, HAL.
    14. Jean-Marc Bottazzi & Jaime Luque & Mário Páscoa, 2012. "Securities market theory: Possession, repo and rehypothecation," PSE-Ecole d'économie de Paris (Postprint) hal-00665629, HAL.
    15. Geanakoplos, John & Mas-Colell, Andreu, 1989. "Real indeterminacy with financial assets," Journal of Economic Theory, Elsevier, vol. 47(1), pages 22-38, February.
    16. Debreu, Gerard, 1970. "Economies with a Finite Set of Equilibria," Econometrica, Econometric Society, vol. 38(3), pages 387-392, May.
    17. Shell, Karl, 1971. "Notes on the Economics of Infinity," Journal of Political Economy, University of Chicago Press, vol. 79(5), pages 1002-1011, Sept.-Oct.
    18. Pradeep Dubey & John Geanakoplos & Martin Shubik, 2005. "Default and Punishment in General Equilibrium," Econometrica, Econometric Society, vol. 73(1), pages 1-37, January.
    19. Balasko, Yves, 1983. "Extrinsic uncertainty revisited," Journal of Economic Theory, Elsevier, vol. 31(2), pages 203-210, December.
    20. Jean-Marc Bottazzi & Jaime Luque & Mário R. Páscoa, 2012. "Securities market theory: Possession, repo and rehypothecation," Post-Print hal-01648216, HAL.
    21. Spear, Stephen E., 1985. "Rational expectations in the overlapping generations model," Journal of Economic Theory, Elsevier, vol. 35(2), pages 251-275, August.
    22. Jean-Marc Bottazzi & Jaime Luque & Mário R. Páscoa, 2012. "Securities market theory: Possession, repo and rehypothecation," PSE-Ecole d'économie de Paris (Postprint) hal-01648216, HAL.
    23. Cass, David, 2006. "Competitive equilibrium with incomplete financial markets," Journal of Mathematical Economics, Elsevier, vol. 42(4-5), pages 384-405, August.
    24. K. J. Arrow, 1964. "The Role of Securities in the Optimal Allocation of Risk-bearing," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 31(2), pages 91-96.
    25. David Cass, 1989. "Sunspots and Incomplete Financial Markets: The Leading Example," Palgrave Macmillan Books, in: George R. Feiwel (ed.), The Economics of Imperfect Competition and Employment, chapter 25, pages 677-693, Palgrave Macmillan.
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    Cited by:

    1. Keshab Raj Bhattarai, 2016. "Economic Growth and Development in India and SAARC Countries," EcoMod2016 9631, EcoMod.

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    More about this item

    Keywords

    Default; Efficiency; Equilibrium; Existence; Incomplete markets; Leverage; Overlapping-generations model; Public goods; Regular equilibria; Sunspot equilibria;
    All these keywords.

    JEL classification:

    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • D04 - Microeconomics - - General - - - Microeconomic Policy: Formulation; Implementation; Evaluation
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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