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[eng] The main purpose of this paper is to show how a knowledge of structure may be used to construct a, model that simulates aggregate producers actions. The .resulting model , is useful in explaining past production patterns, predicting future changes, assessing effects of alternative...

A dynamic, out-of-equilibrium model of aggregate demand and supply is specified. The existence of, and convergence to, a macroeconomic equilibrium is derived, and the existence of a supporting revealed social utility function is established. Empirical estimates for three recent historical 'eras'...