Existence and multiplicity of temporary equilibria under nominal price rigidities

This paper proves existence of a multiplicity of equilibria in a 2-period TGE model with money and nominal rigidities. Households have in- complete preferences and firms reach decisions through the “control principle” (cf. Dr`eze 1989).

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Year of publication:	2013-04-26
Authors:	DREZE, Jacques
Institutions:	Center for Operations Research and Econometrics (CORE), École des Sciences Économiques de Louvain
Subject:	temporary general equilibrium \| incomplete preferences \| price rigidities

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Extent:	application/pdf
Series:	CORE Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series UNIVERSITE CATHOLIQUE DE LOUVAIN, Center for Operations Research and Econometrics (CORE) Number 2013010
Classification:	D51 - Exchange and Production Economies ; D52 - Incomplete Markets
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010662676