equilibrium prices, particularly when those markets are highly complex. A relatively new critique questions whether markets can … realistically find equilibrium prices if computers cannot. For instance, in a simple exchange economy with Leontief preferences, the … time required to compute equilibrium prices using the fastest known techniques is an exponential function of the number of …

toward right-skewness. Simple mixed distribution models including volatile and infrequently adjusted prices can account for … these and other common features, such as correlation between the mean and variance of relative prices. In such circumstances …

€™s overall economic growth. The significant volatility in the exchange equity prices, and interest rates triggered by the global …

of disaggregated relative prices. When heterogeneity is properly taken into account, estimates of the real exchange rate …