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Since Lėon Walras neoclassical economists hold an inalterable belief in a unique and stable equilibrium for the … paper examines four such models of increasing complexity, including the affine nonlinear feedback H∞-control, to show that … the "data requirement" precludes all attempts at the empirical verification of the existence of a stable equilibrium. If …
Persistent link: https://www.econbiz.de/10012062056
Rational expectations are often used as an argument against policy activism, as they may undermine or neutralize the policymaker’s actions. Although this sometimes happens, rational expectations do not always imply policy invariance or ineffectiveness. In fact, in certain circumstances...
Persistent link: https://www.econbiz.de/10010577029
This introduces the symposium on general equilibrium. …
Persistent link: https://www.econbiz.de/10010572387
equilibrium modelling that have been applied to regional economies. We begin with a description of the Social Accounting Matrices … constructed for different regions to then expose the different General Equilibrium Models that have been developed using these …
Persistent link: https://www.econbiz.de/10010743103
of endogeneity but are calibrated on a common data set, moving from a basic partial equilibrium approach to a fully … specified general equilibrium treatment. The size of the rebound effect is shown to depend on changes in household income …, aggregate economic activity and relative prices that can only be captured through a general equilibrium model. …
Persistent link: https://www.econbiz.de/10010753180
hierarchical KLEM production function in a computable general equilibrium (CGE) model. The appropriate means of introducing energy …
Persistent link: https://www.econbiz.de/10010573391
a la aplicación regional de los análisis. In last decades, the applied general equilibrium modeling has become a very … active area of research in economics. The goal of this paper is to present the contributions of applied general equilibrium … regional analysis of computable general equilibrium. …
Persistent link: https://www.econbiz.de/10005690315
This survey analyses two types of models: 1. Models based on assumptions of monetary and financial market equilibrium … into account the dynamics of financial market, as well as the role of uncertainty, interdependency and dynamic complexity …
Persistent link: https://www.econbiz.de/10009003977
This survey analyses two types of models: 1. models based on assumptions of monetary and financial market equilibrium …
Persistent link: https://www.econbiz.de/10009140962
which is a partial general equilibrium model that incorporates the input-output model. <p> By using the 15 sector industrial …
Persistent link: https://www.econbiz.de/10005391317