Artikel
The sequential trading approach to disequilibrium dynamics
This paper presents a generalization of Varian's original contribution on disequilibrium models characterized by sequential trading. By building up the model on the differentiation of regimes we make the subject more easily comparable to standard disequilibrium models. Compared to the latter (the simultaneous trading models) one obtains a totally new kind of steady states where both the labour and goods market clear but the usual marginal productivity conditions for Walrasian equilibria are not fullfilled. It is shown that the stability of these non-Walrasian equilibria depends on the adjustment speeds of prices and wages whereas their existence depends on the assumption of a competitive adjustment on both markets.
- Sprache
-
Englisch
- Erschienen in
-
Journal: Jahrbücher für Nationalökonomie und Statistik ; ISSN: 0021-4027 ; Volume: 209 ; Year: 1992 ; Issue: 1/2 ; Pages: 47-59 ; Stuttgart: Lucius & Lucius
- Klassifikation
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Wirtschaft
- Thema
-
Neukeynesianische Makroökonomik
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Lux, Thomas
- Ereignis
-
Veröffentlichung
- (wer)
-
Lucius & Lucius
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
- (wo)
-
Stuttgart
- (wann)
-
1992
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Lux, Thomas
- Lucius & Lucius
- ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
Entstanden
- 1992
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