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

At a Nash - Walras equilibrium, individuals exchange commodities competitively, and, simultaneously, they interact … strategically. Under standard assumptions, NashWalras equilibria exist, equilibrium profiles of actions are, typically, determinate …

modification of the model of general competitive equilibrium that encompasses monetary economies. Competitive equilibria exist …. Nevertheless, eventhough there is a well defined money market, competitive equilibrium allocations are indeterminate.On an event …

modification of the model of general competitive equilibrium that encompasses monetary economies with an operative transactions …, monetary policy fails to determine the distribution of the rate of inflation or the allocation of resources at equilibrium. If …

is a non-trivial multiplicity of equilibrium paths of prices of commodities. Determinacy requires that, subject to no …

equilibrium correspondence, which associates equilibrium prices of commodities to allocations of endowments; the argument extends … the prices of commodities and the distribution of income. The graph of the equilibrium correspondence or of the aggregate … equilibrium correspondence or the aggregate demand function imply that general equilibrium theory has testable implications. …

general-equilibrium analysis in the presence of money illusion generates implications that are consistent with several …

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) …

of rates of interest, there is a nontrivial multiplicity of equilibrium paths of prices of commodities. Determinacy …