Partial equilibrium of consumers in an aggregative model
AbstractWe consider an aggregative consumption economy, where there are a market for commodities and four financial markets : for bonds, deposits, credits and a speculative asset. The decision analytic ideas of decentralization and price aggregation are applied to discuss the existence of equilibrium.
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Bibliographic InfoPaper provided by Université Panthéon-Sorbonne (Paris 1) in its series Cahiers de la Maison des Sciences Economiques with number b04081.
Length: 11 pages
Date of creation: Jul 2004
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Partial equilibrium; decentralization; price aggregation; consumption economy; aggregative models.;
Find related papers by JEL classification:
- C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
- E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
- E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
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- Charles Blackorby & R. Robert Russell, 1996. "Two-stage budgeting: An extension of Gorman's theorem," Economic Theory, Springer, vol. 9(1), pages 185-193.
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