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Existence and multiplicity of temporary equilibria under nominal price rigidities

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  • DREZE, Jacques

    (Université catholique de Louvain, CORE, Belgium)

Abstract

This paper proves existence of a multiplicity of equilibria in a 2-period TGE model with money and nominal rigidities. Households have in- complete preferences and firms reach decisions through the “control principle” (cf. Dr`eze 1989).

Suggested Citation

  • DREZE, Jacques, 2013. "Existence and multiplicity of temporary equilibria under nominal price rigidities," LIDAM Discussion Papers CORE 2013010, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvco:2013010
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    References listed on IDEAS

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    More about this item

    Keywords

    temporary general equilibrium; incomplete preferences; price rigidities;
    All these keywords.

    JEL classification:

    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets

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