This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

The temporary equilibrium method : Hicks against Hicks

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Michel, DE VROEY (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES))

Additional information is available for the following registered author(s):

Abstract

Hicks is renown for having introduced the temporary equilibrium framework in his book Value and Capital. Subsequently, however, he partially recanted this framework by rejecting the market clearing idea while still keeping the week device. The aim of this paper is to assess whether this change was right. My answer will be broadly negative. To make my point, I will ponder on the meaning and implications of the week device, assess the validity of HicksÕ claim that slow adjustment can cause market rationing, examine his claim that the possibility of market clearing depends on the prevailing market form and, finally, assess his twofold filiations towards Marshall and Walras.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. 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://sites.uclouvain.be/econ/DP/IRES/2004-14.pdf
File Format: application/pdf
File Function:
Download Restriction: no

Publisher Info
Paper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) with number 2004014.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 28
Date of creation: 01 Apr 2004
Date of revision:
Handle: RePEc:ctl:louvir:2004014

Contact details of provider:
Postal: Place Montesquieu 3, 1348 Louvain-la-Neuve (Belgium)
Fax: +32 10473945
Email:
Web page: http://www.uclouvain.be/econ
More information through EDIRC

For technical questions regarding this item, or to correct its listing, contact: (Anne DAVISTER).

Related research
Keywords: HICKS; Temporary Equilibrium;

Other versions of this item:

Find related papers by JEL classification:
B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General

This paper has been announced in the following NEP Reports:

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.:
  1. Michel De Vroey, 2003. "Perfect information à la Walras versus perfect information à la Marshall," Journal of Economic Methodology, Taylor and Francis Journals, vol. 10(4), pages 465-492, December. [Downloadable!] (restricted)
  2. Hahn, Frank, 1990. "John Hicks the Theorist," Economic Journal, Royal Economic Society, vol. 100(401), pages 539-49, June. [Downloadable!] (restricted)
  3. Leijonhufvud, Axel, 1984. "Hicks on Time and Money," Oxford Economic Papers, Oxford University Press, vol. 36(0), pages 26-46, Supplemen. [Downloadable!] (restricted)
  4. Grandmont, Jean-Michel, 1977. "Temporary General Equilibrium Theory," Econometrica, Econometric Society, vol. 45(3), pages 535-72, April. [Downloadable!] (restricted)
  5. De Vroey, Michel, 2001. "Price Rigidity and Market-Clearing: A Conceptual Clarification," Cambridge Journal of Economics, Oxford University Press, vol. 25(5), pages 639-55, September.
  6. De Vroey, Michel, 1999. "The Marshallian Market and the Walrasian Economy. Two Incompatible Bedfellows," Scottish Journal of Political Economy, Scottish Economic Society, vol. 46(3), pages 319-38, August. [Downloadable!] (restricted)
    Other versions:
  7. Michel De Vroey, 2000. "Marshall on equilibrium and time: a reconstruction," European Journal of the History of Economic Thought, Taylor and Francis Journals, vol. 7(2), pages 245-269, June. [Downloadable!] (restricted)
    Other versions:
Full references

Statistics
Access and download statistics

Did you know? IDEAS also computes impact factors for journals and working paper series.

This page was last updated on 2009-11-30.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.