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On equilibrium with price rigidities and rationing

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  • Escudé, Guillermo

Abstract

Properties of a price dependent rationing scheme are formulated which can handle constrained flexible prices as well as fixed prices. This scheme is applied to prove the existence of an equilibrium which generalizes Benassy's concept of K-equilibrium.

Suggested Citation

  • Escudé, Guillermo, 1984. "On equilibrium with price rigidities and rationing," Brazilian Review of Econometrics, Sociedade Brasileira de Econometria - SBE, vol. 4(2), November.
    • Handle: RePEc:sbe:breart:v:4:y:1984:i:2:a:3135
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