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 this paper I attempt to show that mathematical economics is unreasonably ineffective. Unreasonable, because the mathematical assumptions are economically unwarranted; ineffective because the mathematical formalizations imply nonconstructive and uncomputable structures. A reasonable and...

This study presents an approach based on a perturbation technique to construct global solutions to dynamic stochastic general equilibrium models (DSGE). The main idea is to expand a solution in a series of powers of a small parameter scaling the uncertainty in the economy around a solution to...

This paper is the first attempt at quantitative and qualitative analysis of the Soviet literature on general equilibrium theory in 1960—1990s. We divide the papers into four subgroups: von Neumann—Gale class of models and equilibrium growth; Arrow—Debreu class of models; disequilibrium...

The competitive equilibrium correspondence, which associates equilibrium prices of commodities ans assets with allocations of endowments, identifies the preferences and beliefs of individuals, this is the case even if the asset market is incomplete.

In this paper, we develop a framework for the formulation, analysis, and computation of solutions to spatial network problems in which the firms are multicriteria decision-makers and the consumers are as well. In particular, the firms, which are involved in the production of a homogeneous...

PERHAPS, POVERTY AND PLENTY IS THE WORLD'S GREATEST CHALLENGE. THIS STUDY THEREFORE PROPOSE AN APPLIED(COMPUTABLE)GENERAL EQUILIBRIUM APPROACH, THAT IS A RENEW ATTENTION TO THE PROBLEM OF POVERTY , EMPLOYMENT AND INEQUALITY THAT EARLIER STRATEGIES FOCUSING ON RAPID GROWTH WERE UNABLE TO RESOLVE....

In this paper we examine the likelihood of multiple real steady states in deterministic exchange economies with overlapping generations. There is a single good and a single agent per generation with constant relative risk aversion expected utility. In order to test for multiple equilibria we...

The general equilibrium model with incomplete asset markets provides a unified framework for many problems in finance and macroeconomics. In its simplest version with only two time periods and a single physical commodity the model is ideally suited for the study of problems in cross sectional...