On Market Equilibrium Analysis
In this paper we develop the implications of competitive market equilibrium for production and household behavior when some prices are endogenously determined. The properties of market equilibrium functions are explored, including the effects of pricing policy. A Slutsky-type equation relating compensated and uncompensated market equilibrium functions is derived. Implications for multimarket welfare analysis are presented, focusing on the effects of pricing policy and technical change. Copyright 1997, Oxford University Press.
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Volume (Year): 79 (1997)
Issue (Month): 2 ()
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- Ronald W. Jones, 1965. "The Structure of Simple General Equilibrium Models," Journal of Political Economy, University of Chicago Press, vol. 73, pages 557-557.
- John E. Floyd, 1965. "The Effects of Farm Price Supports on the Returns to Land and Labor in Agriculture," Journal of Political Economy, University of Chicago Press, vol. 73, pages 148-148.
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