The standard Walrasian equilibrium theory requires that the marginal value product of production factor such as labor … theory allegedly fills this gap by encompassing apparent disequilibrium phenomena in the neoclassical equilibrium framework … behavior of economic agents. We must seek a new concept of equilibrium different from the standard Walrasian equilibrium in …

The standard Walrasian equilibrium theory requires that the marginal value product of production factor such as labor … theory allegedly fills this gap by encompassing apparent disequilibrium phenomena in the neoclassical equilibrium framework … behavior of economic agents. We must seek a new concept of equilibrium different from the standard Walrasian equilibrium in …

neoclassical equilibrium analysis. They provide the setting of optimal decision making and therein constitute the tacit rationale …

equilibrium effects and are often reduced-form. This paper provides a framework within which to study the equilibrium impact of … general and partial equilibrium (i.e. the scale of the programmes can substantially change its outcomes) …

In this paper we compare the classical general equilibrium framework of Smith and Marx with the neoclassical one of … Arrow and Debreu, and find that these competing paradigms of equilibrium clash on a number of critical issues …

This volume is a collection of papers that apply general equilibrium theory in order to obtain policy relevant insights … dynamic numerical general equilibrium methods to quantify the effects of geographic extension of the European Union, including …

Economies with asymmetric information are encompassed by an extension of the model of general competitive equilibrium … anonymous markets are viable. But, for a generic economy, competitive equilibrium allocations are constrained suboptimal: there …

’s 1979 book Microeconomic Foundations of Keynesian Macroeconomics. Such equilibria are defined in a general equilibrium model …