This paper investigates the impact of the Turkish public sector imbalances on the evolution of the economic crisis during 1990-93. A computable general equilibrium model is used. The theoretical basis of the model rests upon the Structuralist/Keynesian macro foundations. Its distinguishing...

In an exchange economyw ith a finite number of indivisible goods, we analyze a dynamic trading process of coalitional recontracting where agents may make mistakes with small probability. We show first that the recurrent classes of the unperturbed (mistakefree) process consist of (i) all core...

Traditional ways to prove the existence of general equilibrium have to entail a common condition that the excess demand function must be continuous. This paper presents a new approach to change it. The technique used in this paper is that we tackle general equilibrium problem, which in fact is a...