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A "Classical" General Equilibrium Model

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Author Info
Antonio Villar Notario (Instituto Valenciano de Investigaciones Económicas)

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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 Format: application/pdf
File Function: Fisrt version / Primera version, 1991
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Publisher 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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This page was last updated on 2009-12-11.

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