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The Foundations of Computable General EquilibriumTheory

Author

Listed:
  • K. Vela Velupillai

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

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

Suggested Citation

  • K. Vela Velupillai, 2005. "The Foundations of Computable General EquilibriumTheory," Working Papers 0093, National University of Ireland Galway, Department of Economics, revised 2005.
    • Handle: RePEc:nig:wpaper:0093
    as

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    File URL: http://www.economics.nuig.ie/resrch/paper.php?pid=100
    File Function: First version, 2005
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    File URL: http://www.economics.nuig.ie/resrch/paper.php?pid=100
    File Function: Revised version, 2005
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    More about this item

    Keywords

    General Equilibrium theory; CGE Models; Mathematical economics; Computability; Constructivity;
    All these keywords.

    JEL classification:

    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models

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