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A Simple Example of Sraffian Indeterminacy in Walrasian General Equilibrium Framework

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  • Yoshihara, Naoki
  • Kwak, Se Ho

Abstract

In contrast toMandler’s (1999; Theorem 6.1) impossibility result about the Sraffian indeterminacy of the steady-state equilibrium, we have proposed a simple example of overlapping generation economy in which generic indeterminacy occurs in the Sraffian steady-state equilibrium.

Suggested Citation

  • Yoshihara, Naoki & Kwak, Se Ho, 2020. "A Simple Example of Sraffian Indeterminacy in Walrasian General Equilibrium Framework," Discussion Paper Series 717, Institute of Economic Research, Hitotsubashi University.
    • Handle: RePEc:hit:hituec:717
    as

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    File URL: https://hermes-ir.lib.hit-u.ac.jp/hermes/ir/re/70114/DP717.pdf
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    References listed on IDEAS

    as
    1. Michael Mandler, 1999. "Sraffian Indeterminacy in General Equilibrium," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 66(3), pages 693-711.
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    More about this item

    Keywords

    Sraffian indeterminacy; factor income distribution; general equilibrium framework;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General

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