A "Classical" General Equilibrium Model
It is shown in this paper how for any parametrically given rate of profits p, a price vector and an allocation exist such that: (a) Consumers maximize their preferences subject to their budget constraints; (b) Firms maximize profits; (c) Al1 active firms are equally profitable (with a rate of return equal to p); and (d) All markets clear.
|Date of creation:||Jan 1991|
|Date of revision:|
|Publication status:||Published by Ivie|
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