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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
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    File URL: http://www.economics.nuig.ie/resrch/paper.php?pid=100
    File Function: First version, 2005
    Download Restriction: no

    File URL: http://www.economics.nuig.ie/resrch/paper.php?pid=100
    File Function: Revised version, 2005
    Download Restriction: no

    Citations

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    Cited by:

    1. K. Vela Velupillai, 2011. "Foley's Thesis, Negishi's Method, Existence Proofs and Computation," ASSRU Discussion Papers 1124, ASSRU - Algorithmic Social Science Research Unit.
    2. K. Vela Velupillai, 2011. "The Fundamental Theorems of Welfare Economics, DSGE and the Theory of Policy - Computable & Constructive Foundations," ASSRU Discussion Papers 1125, ASSRU - Algorithmic Social Science Research Unit.
    3. K.Vela Velupillai, 2011. "Negishi's Theorem and Method," ASSRU Discussion Papers 1129, ASSRU - Algorithmic Social Science Research Unit.

    More about this item

    Keywords

    General Equilibrium theory; CGE Models; Mathematical economics; Computability; Constructivity;

    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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