IDEAS home Printed from https://ideas.repec.org/a/bla/ecorec/v55y1979i2p172-178.html
   My bibliography  Save this article

Global Stability with Spillovers

Author

Listed:
  • JOHN C. ECKALBAR

Abstract

This paper investigates the stability of a small, highly stylized economy, which has imperfectly informed traders visiting markets sequentially. Trading out of equilibrium is allowed. Roughly speaking, this system is found to be stable, even though spillovers are present, as long as the direct effects of price changes dominate the spillovers.

Suggested Citation

  • John C. Eckalbar, 1979. "Global Stability with Spillovers," The Economic Record, The Economic Society of Australia, vol. 55(2), pages 172-178, June.
    • Handle: RePEc:bla:ecorec:v:55:y:1979:i:2:p:172-178
    DOI: 10.1111/j.1475-4932.1979.tb02217.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1475-4932.1979.tb02217.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1475-4932.1979.tb02217.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Franklin M. Fisher, 1978. "Quantity Constraints, Spillovers and the Hahn Process," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 45(1), pages 19-31.
    2. Grossman, Herschel I, 1971. "Money, Interest, and Prices in Market Disequilibrium," Journal of Political Economy, University of Chicago Press, vol. 79(5), pages 943-961, Sept.-Oct.
    3. Howitt, P W, 1974. "Stability and the Quantity Theory," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 133-151, Jan.-Feb..
    4. Varian, Hal R., 1975. "On persistent disequilibrium," Journal of Economic Theory, Elsevier, vol. 10(2), pages 218-228, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sambracos, Evangelos & Yannelis, Dimitris, 1993. "On Non-Tatonnement Processes," MPRA Paper 52125, University Library of Munich, Germany.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sambracos, Evangelos & Yannelis, Dimitris, 1993. "On Non-Tatonnement Processes," MPRA Paper 52125, University Library of Munich, Germany.
    2. Jean-Pascal Benassy, 1976. "Théorie du déséquilibre et fondements micro-économiques de la macroéconomie," Revue Économique, Programme National Persée, vol. 27(5), pages 755-804.
    3. Levin, Mark (Левин, Марк), 2017. "Modeling of Economic Systems Under Conditions of Short-Term Market Disequilibrium [Моделирование Экономических Систем В Условиях Краткосрочного Рыночного Неравновесия]," Working Papers 041709, Russian Presidential Academy of National Economy and Public Administration.
    4. Sharefkin, Mark, 1982. "Stabilization and Growth Policy with Uncertain Oil Prices: Some Rules of Thumb," Working Paper Series 60, Research Institute of Industrial Economics.
    5. Benassy, Jean-Pascal, 1990. "Non-Walrasian equilibria, money, and macroeconomics," Handbook of Monetary Economics, in: B. M. Friedman & F. H. Hahn (ed.), Handbook of Monetary Economics, edition 1, volume 1, chapter 4, pages 103-169, Elsevier.
    6. Mauro Boianovsky, 2002. "Simonsen and the early history of the cash\in-advance approach," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 9(1), pages 57-71.
    7. Jean-Luc Gaffard, 1980. "Monnaie, structure et emploi dans une économie en récession," Revue Économique, Programme National Persée, vol. 31(2), pages 234-257.
    8. Don Patinkin, 1987. "Walras' Law," WIDER Working Paper Series wp-1987-013, World Institute for Development Economic Research (UNU-WIDER).
    9. Howitt, Peter & Clower, Robert, 2000. "The emergence of economic organization," Journal of Economic Behavior & Organization, Elsevier, vol. 41(1), pages 55-84, January.
    10. Young Sik Kim & Manjong Lee, 2009. "Wealth Distribution, Inflation Tax, and Societal Benefits of Illiquid Bonds," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(5), pages 809-830, August.
    11. George H. Blackford, 1975. "Money and Walras' Law in the General Theory of Market Disequilibrium," Eastern Economic Journal, Eastern Economic Association, vol. 2(1), pages 1-9, January.
    12. Rosa-Maria Gelpi, 1977. "La formation des taux et le mécanisme de la distribution de crédits dans le système bancaire français avant et après la réforme de 1965-1967," Revue Économique, Programme National Persée, vol. 28(3), pages 376-418.
    13. Philippe Rouzier, 1978. "L’approche séquentielle du déséquilibre dans les modèles de stocks et de flux," L'Actualité Economique, Société Canadienne de Science Economique, vol. 54(2), pages 234-248.
    14. Goulven Rubin, 2005. "La controverse entre Clower et Patinkin au sujet de la validité de la loi de Walras," Revue économique, Presses de Sciences-Po, vol. 56(1), pages 5-24.
    15. Francis Taurand, 1985. "Une approche néo-robertsonienne simple des fondements microéconomiques de la théorie monétaire," L'Actualité Economique, Société Canadienne de Science Economique, vol. 61(4), pages 472-488.
    16. M. Scattaglia, 1994. "Politiche per l'occupazione e Microfondamenti "Keynesiani" dell'economia del lavoro," Working Papers 196, Dipartimento Scienze Economiche, Universita' di Bologna.
    17. Plassard, Romain, 2021. "Barro, Grossman, and the domination of equilibrium macroeconomics," MPRA Paper 107201, University Library of Munich, Germany.
    18. Escudé, Guillermo, 1984. "On equilibrium with price rigidities and rationing," Brazilian Review of Econometrics, Sociedade Brasileira de Econometria - SBE, vol. 4(2), November.
    19. van Marrewijk, Charles & Verbeek, Jos, 1993. "Disequilibrium Growth Theory in an International Perspective," Oxford Economic Papers, Oxford University Press, vol. 45(2), pages 311-331, April.
    20. David Laidler, 2022. "Peter Howitt – a Keynesian Still in Recovery," University of Western Ontario, Departmental Research Report Series 202211, University of Western Ontario, Department of Economics.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ecorec:v:55:y:1979:i:2:p:172-178. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/esausea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.