subject is the basic toolbox of mainstream economics. The most important tools in this box are demand, supply and equilibrium … what economists tell us, demand, supply and equilibrium do not carry over to the actual world: they cannot be empirically …

will introduce enough new goods to avoid such a situation. In contrast, the decentralized equilibrium may involve long run …. In the latter equilibrium, capital and the number of varieties are larger than in the former, while consumption of each … endogenized, the satiated equilibrium generically survives. For some parameter values, its growth rate is positive while labor …

will introduce enough new goods to avoid such a situation. In contrast, the decentralized equilibrium may involve long run …. In the latter equilibrium, capital and the number of varieties are larger than in the former, while consumption of each …, the satiated equilibrium generically survives. For some parameter values, its growth rate is positive while labor supply …

We prove the existence of a minimal state space recursive equilibrium (RE) for a broad class of infinite horizon … dynamic general equilibrium models with positive externalities, dynamic complementarities, public policy, equilibrium … the literature. Rather, using partial ordering methods, we provide a qualitative theory of equilibrium comparative statics …

In this paper we have analyzed existence, uniqueness and stability of a steady-state equilibrium in an overlapping … conditions for a non-trivial steady-state equilibrium to exist, and also sufficient conditions for its uniqueness and global …