IDEAS home Printed from https://ideas.repec.org/p/hit/hituec/717.html
   My bibliography  Save this paper

A Simple Example of Sraffian Indeterminacy in Walrasian General Equilibrium Framework

Author

Listed:
  • Yoshihara, Naoki
  • Kwak, Se Ho

Abstract

In contrast toMandler’s (1999; Theorem 6.1) impossibility result about the Sraffian indeterminacy of the steady-state equilibrium, we have proposed a simple example of overlapping generation economy in which generic indeterminacy occurs in the Sraffian steady-state equilibrium.

Suggested Citation

  • Yoshihara, Naoki & Kwak, Se Ho, 2020. "A Simple Example of Sraffian Indeterminacy in Walrasian General Equilibrium Framework," Discussion Paper Series 717, Institute of Economic Research, Hitotsubashi University.
    • Handle: RePEc:hit:hituec:717
    as

    Download full text from publisher

    File URL: https://hermes-ir.lib.hit-u.ac.jp/hermes/ir/re/70114/DP717.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Michael Mandler, 1999. "Sraffian Indeterminacy in General Equilibrium," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 66(3), pages 693-711.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jonathan F. Cogliano & Roberto Veneziani & Naoki Yoshihara, 2016. "The Dynamics of Exploitation and Class in Accumulation Economies," Metroeconomica, Wiley Blackwell, vol. 67(2), pages 242-290, May.
    2. Naoki Yoshihara & Se Ho Kwak, 2019. "Sraffian Indeterminacy in General Equilibrium Revisited," UMASS Amherst Economics Working Papers 2019-04, University of Massachusetts Amherst, Department of Economics.
    3. Borissov, Kirill, 2002. "Indeterminate steady-state equilibria in a one-sector model," Economics Letters, Elsevier, vol. 77(1), pages 125-130, September.
    4. Rodríguez-Arana, Alejandro, 2016. "Una visión crítica del problema de indeterminación de la distribución del ingreso en el sistema económico de piero Sraffa./ A critical view of the problem indeterminacy of distributionincome in the sy," Panorama Económico, Escuela Superior de Economía, Instituto Politécnico Nacional, vol. 12(23), pages 7-28, Segundo s.
    5. Bellino, Enrico, 2009. "The Classical approach to distribution and the “natural system”," MPRA Paper 14901, University Library of Munich, Germany.
    6. Yoshihara, Naoki & Veneziani, Roberto, 2023. "The general equilibrium effects of localised technological progress: A Classical approach," Journal of Mathematical Economics, Elsevier, vol. 109(C).
    7. Galanis, Giorgos & Veneziani, Roberto & Yoshihara, Naoki, 2019. "The dynamics of inequalities and unequal exchange of labor in intertemporal linear economies," Journal of Economic Dynamics and Control, Elsevier, vol. 100(C), pages 29-46.
    8. Fratini, Saverio M. & Levrero, Enrico Sergio & Ravagnani, Fabio, 2016. "Price expectations in neo-Walrasian equilibrium models: an overview," MPRA Paper 69515, University Library of Munich, Germany.
    9. Kurose, Kazuhiro & Yoshihara, Naoki, 2019. "On the Ricardian invariable measure of value in general convex economies," Structural Change and Economic Dynamics, Elsevier, vol. 51(C), pages 539-549.

    More about this item

    Keywords

    Sraffian indeterminacy; factor income distribution; general equilibrium framework;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hit:hituec:717. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Hiromichi Miyake (email available below). General contact details of provider: https://edirc.repec.org/data/iehitjp.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.