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Fixprice models for dynamic studies

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  • Eric Kades

Abstract

A specification of static fixprice (or disequilibrium) models developed for dynamic extension in the companion piece, Working Paper 8505. This paper, using only static analysis, gives the disequilibrium explanation for the existence of business cycles.

Suggested Citation

  • Eric Kades, 1985. "Fixprice models for dynamic studies," Working Papers (Old Series) 8504, Federal Reserve Bank of Cleveland.
    • Handle: RePEc:fip:fedcwp:8504
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    References listed on IDEAS

    as
    1. Muellbauer, John & Portes, Richard, 1978. "Macroeconomic Models with Quantity Rationing," Economic Journal, Royal Economic Society, vol. 88(352), pages 788-821, December.
    2. Godley, Wynne A H & Nordhaus, William D, 1972. "Pricing in the Trade Cycle," Economic Journal, Royal Economic Society, vol. 82(327), pages 853-882, September.
    3. Dreze, Jacques H, 1975. "Existence of an Exchange Equilibrium under Price Rigidities," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 16(2), pages 301-320, June.
    4. Barro, Robert J & Grossman, Herschel I, 1971. "A General Disequilibrium Model of Income and Employment," American Economic Review, American Economic Association, vol. 61(1), pages 82-93, March.
    5. repec:bla:scandj:v:79:y:1977:i:2:p:147-68 is not listed on IDEAS
    6. Silvestre, Joaquim, 1983. "Fixprice analysis in productive economies," Journal of Economic Theory, Elsevier, vol. 30(2), pages 401-409, August.
    7. Debreu, Gerard, 1970. "Economies with a Finite Set of Equilibria," Econometrica, Econometric Society, vol. 38(3), pages 387-392, May.
    8. Drazen, Allan, 1980. "Recent Developments in Macroeconomic Disequilibrium Theory," Econometrica, Econometric Society, vol. 48(2), pages 283-306, March.
    9. Guy Laroque, 1981. "On the Local Uniqueness of the Fixed Price Equilibria," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 48(1), pages 113-129.
    Full references (including those not matched with items on IDEAS)

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    Keywords

    Equilibrium (Economics); Business cycles;

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