A "CLASSICAL" GENERAL EQUILIBRIUM MODEL

Working Papers. Serie AD from Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie)

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.

Pages: 38 pages
Date: 1991-01
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http://www.ivie.es/downloads/docs/wpasad/wpasad-1991-11.pdf Fisrt version / Primera version, 1991 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:ivi:wpasad:1991-11

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