Advanced Search
MyIDEAS: Login

Stationary Temporary Equilibrium in a General Model of Optimal Accumulation and Trade

Contents:

Author Info

Abstract

This paper analyzes the movement of market-clearing prices in an intertemporal general equilibrium framework and, in particular, proves the existence of a stationary temporary equilibrium. A model of a competitive economy is developed which consists of several 'small' countries engaged in consumption, production and trade. Following Hicks, one way to look at the evolution of an economic system is to view it as a succession of temporary competitive equilibria. The aspect of stationarity is interesting because if the sequence of temporary equilibria converges to a steady-state, it must converge to a stationary temporary equilibrium. A linear-logarithmic economy exhibits convergence.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://wpcarey.asu.edu/tools/mytools/pubs_admin/FILES/wp97_8.pdf
Our checks indicate that this address may not be valid because: 404 Not Found. If this is indeed the case, please notify (Steve Salik)
Download Restriction: no

Bibliographic Info

Paper provided by Department of Economics, W. P. Carey School of Business, Arizona State University in its series Working Papers with number 2132839.

as in new window
Length:
Date of creation:
Date of revision:
Handle: RePEc:asu:wpaper:2132839

Contact details of provider:
Postal: Box 873806, Tempe, AZ 85287-3806
Phone: (480) 965-5514
Fax: (480) 965-0748
Email:
Web page: http://repec.wpcarey.asu.edu/RePEc/asu/
More information through EDIRC

Related research

Keywords:

Other versions of this item:

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Wan, Henry Jr. & Majumdar, Mukul, 1980. "Trade under temporary equilibrium: Evolution in a loglinear world," Journal of International Economics, Elsevier, vol. 10(1), pages 37-62, February.
  2. Dutta, Prajit K. & Mitra, Tapan, 1989. "Maximum theorems for convex structures with an application to the theory of optimal intertemporal allocation," Journal of Mathematical Economics, Elsevier, vol. 18(1), pages 77-86, February.
  3. Datta, Manjira, 1997. "Externalities and Price Dynamics," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 38(3), pages 587-603, August.
  4. HILDENBRAND, Werner & MERTENS, Jean-François, . "Upper hemi-continuity of the equilibrium set correspondence for pure exchange economies," CORE Discussion Papers RP -109, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  5. Datta, M., 1992. "A general Model of Trade and Optimal Accumulation in a Small Open Economy: The Case of Production Uncertainty," Papers 92-8, Saskatchewan - Department of Economics.
  6. Gerard Debreu, 1956. "Market Equilibrium," Cowles Foundation Discussion Papers 10, Cowles Foundation for Research in Economics, Yale University.
  7. Grandmont, Jean-Michel & Younes, Yves, 1972. "On the Role of Money and the Existence of a Monetary Equilibrium," Review of Economic Studies, Wiley Blackwell, vol. 39(3), pages 355-72, July.
Full references (including those not matched with items on IDEAS)

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:asu:wpaper:2132839. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Steve Salik).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.