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The Foundations of Computable General EquilibriumTheory

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  • K. Vela Velupillai

    (Department of Economics, National University of Ireland, Galway)

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    Abstract

    A constructive and recursion theoretic analysis of the standard Computable General Equilibrium (CGE) model of economic theory is undertaken. It is shown, contrary to widely expressed views and textbook versions of the CGE model, that the standard CGE model is neither computable nor constructive in the strict mathematical senses

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    Bibliographic Info

    Paper provided by National University of Ireland Galway, Department of Economics in its series Working Papers with number 0093.

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    Date of creation: 2005
    Date of revision: 2005
    Handle: RePEc:nig:wpaper:0093

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    Related research

    Keywords: General Equilibrium theory; CGE Models; Mathematical economics; Computability; Constructivity;

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    References

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    1. Debreu,Gerard Introduction by-Name:Hildenbrand,Werner, 1986. "Mathematical Economics," Cambridge Books, Cambridge University Press, number 9780521335614.
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    Cited by:
    1. K. Vela Velupillai, 2007. "Variations on the Theme of Conning in Mathematical Economics," Department of Economics Working Papers 0703, Department of Economics, University of Trento, Italia.
    2. Velupillai Kumaraswamy Vela, 2008. "The Mathematization of Macroeconomics. A Recursive Revolution," Economia politica, Società editrice il Mulino, issue 2, pages 283-316.
    3. K. Vela Velupillai, 2008. "Uncomputability and Undecidability in Economic Theory," Department of Economics Working Papers 0806, Department of Economics, University of Trento, Italia.
    4. K. Vela Velupillai, 2011. "The Fundamental Theorems of Welfare Economics, DSGE and the Theory of Policy - Computable & Constructive Foundations," ASSRU Discussion Papers 1125, ASSRU - Algorithmic Social Science Research Unit.
    5. K. Vela Velupillai, 2011. "Foley's Thesis, Negishi's Method, Existence Proofs and Computation," ASSRU Discussion Papers 1124, ASSRU - Algorithmic Social Science Research Unit.
    6. K. Vela Velupillai, 2011. "DSGE And Beyond – Computable And Constructive Challenges," ASSRU Discussion Papers 1122, ASSRU - Algorithmic Social Science Research Unit.
    7. K.Vela Velupillai, 2011. "Negishi's Theorem and Method," ASSRU Discussion Papers 1129, ASSRU - Algorithmic Social Science Research Unit.

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