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A "Classical" General Equilibrium Model

Author

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  • Antonio Villar Notario

    (Instituto Valenciano de Investigaciones Económicas)

Abstract

It is shown in this paper how for any parametrically given rate of profits p, a price vector and an allocation exist such that: (a) Consumers maximize their preferences subject to their budget constraints; (b) Firms maximize profits; (c) Al1 active firms are equally profitable (with a rate of return equal to p); and (d) All markets clear.

Suggested Citation

  • Antonio Villar Notario, 1991. "A "Classical" General Equilibrium Model," Working Papers. Serie AD 1991-11, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    • Handle: RePEc:ivi:wpasad:1991-11
    as

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    File URL: http://www.ivie.es/downloads/docs/wpasad/wpasad-1991-11.pdf
    File Function: Fisrt version / Primera version, 1991
    Download Restriction: no
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    Cited by:

    1. Carmen Bevi?Author-Email: Carmen.Bevia@uab.es & Luis C. Corch?n & Simon Wilkie, "undated". "Implementation of the Walrasian Correspondence by Market Games," UFAE and IAE Working Papers 493.01, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    2. Martín Browning, 1993. "Dual approaches to utility," Working Papers. Serie AD 1993-10, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    3. Nikolai S. Kukushkin, 1993. "Cournot Oligopoly With "Almost" Identical Convex Costs," Working Papers. Serie AD 1993-07, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).

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