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A "Classical" General Equilibrium Model

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  • Antonio Villar Notario

    (Instituto Valenciano de Investigaciones Económicas)

Abstract

It is shown in this paper how for any parametrically given rate of profits p, a price vector and an allocation exist such that: (a) Consumers maximize their preferences subject to their budget constraints; (b) Firms maximize profits; (c) Al1 active firms are equally profitable (with a rate of return equal to p); and (d) All markets clear.

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File URL: http://www.ivie.es/downloads/docs/wpasad/wpasad-1991-11.pdf
File Function: Fisrt version / Primera version, 1991
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Bibliographic Info

Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie AD with number 1991-11.

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Length: 38 pages
Date of creation: Jan 1991
Date of revision:
Publication status: Published by Ivie
Handle: RePEc:ivi:wpasad:1991-11

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Cited by:
  1. Luis Corchón & Simon Wilkie, 1995. "Implementation Of The Walrasian Correspondence By Market Games," Working Papers. Serie AD 1995-02, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  2. Martín Browning, 1993. "Dual approaches to utility," Working Papers. Serie AD 1993-10, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  3. Nikolai S. Kukushkin, 1993. "Cournot Oligopoly With "Almost" Identical Convex Costs," Working Papers. Serie AD 1993-07, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).

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