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Partial equilibrium of consumers in an aggregative model

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  • José Manuel Guttiérrez

    (Universidad de Salamanca et CERMSEM)

Abstract

We consider an aggregative consumption economy, where there are a market for commodities and four financial markets: for bonds, deposits, credits and a speculative asset. The decision analytic ideas of decentralization and price aggregation are applied to discuss the existence of equilibrium

Suggested Citation

  • José Manuel Guttiérrez, 2004. "Partial equilibrium of consumers in an aggregative model," Cahiers de la Maison des Sciences Economiques b04081, Université Panthéon-Sorbonne (Paris 1).
    • Handle: RePEc:mse:wpsorb:b04081
    as

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    File URL: ftp://mse.univ-paris1.fr/pub/mse/cahiers2004/B04081.pdf
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    References listed on IDEAS

    as
    1. Zinde-Walsh, Victoria, 1995. "ESTIMATION AND INFERENCE IN ECONOMETRICSRussell Davidson and James G. MacKinnon Oxford University Press, 1993," Econometric Theory, Cambridge University Press, vol. 11(3), pages 631-635, June.
    2. Charles Blackorby & R. Robert Russell, 1996. "Two-stage budgeting: An extension of Gorman's theorem," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 9(1), pages 185-193.
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    More about this item

    Keywords

    Partial equilibrium; decentralization; price aggregation; consumption economy; aggregative models;
    All these keywords.

    JEL classification:

    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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