Canonical analysis of the classical general equilibrium model demonstrates the existence of an open and dense subset of standard economies that possess fully-revealing rational expectations equilibria. This paper shows that the analogous result is not true in urban economies under appropriate...

The Philippine government has a number of policy interventions in the domestic rice market aimed at promoting national food security. This paper examines the economy-wide and food security implications of three of the main policies: a ceiling on prices paid by rice consumers; a floor on prices...