We show that a unique active equilibrium exists in each linear bilateral oligopoly whenever it satisfies a certain …

divisible good. It is shown in an extremely simple manner that the market has a Walrasian equilibrium if and only if an … shown that the equilibrium prices of the goods and the profits of the agents are the optimal solutions of the linear program …

trade-off. Basing on a general equilibrium model by T. Kehoe including production and taxes we provide a formal model of an … evolution equilibrium. It is based on arguments from the gradual vs. bang-bang tax reform controversy and from the debate on … optimal macroeconomic policy design. Existence of equilibrium is established extending an analytical result which in a …

equilibrium if zero. Second, we provide representations of price and demand as unbounded operators on an infinite dimensional … Walrasian equilibrium does not exist. -- General equilibrium theory ; endowment effect : non-existence of equilibrium …

-justified equilibria (USJE)---temporary equilibria for which forecasts are best uniform approximations to a selection of the equilibrium …

equilibrium if zero. Second, we provide representations of price and demand as unbounded operators on an infinite dimensional … Walrasian equilibrium does not exist …

Equilibrium models with heterogeneous agents and aggregate uncertainty are difficult to analyze since policy functions … part applies this equilibrium concept to models of firm dynamics with competitive or frictional input markets and to …

Equilibrium models with heterogeneous agents and aggregate uncertainty are difficult to analyze since policy functions … part applies this equilibrium concept to models of firm dynamics with competitive or frictional input markets and to …