Aggregate substitution effects implying global stability

• 成果类型: Article
• 署名作者: Keenan, DC
• 署名单位: University System of Georgia; University of Georgia
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1006/jeth.2000.2757
• 发表日期: 2001
• 页码: 317-329
• 关键词: tatonnement; Global stability

摘要

This article develops novel methods to show that the standard conditions used to obtain global stability of tatonnement depend only on aggregate substitution effects, Thus, for each condition on the matrix of total price effects implying global stability, there is a corresponding one on only the matrix of compensated price effects which also implies global stability. (C) 2001 Academic Press.