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In the pure theory of foreign trade, offer curves are still a well-known textbook device for analyzing conflicting interests between countries engaged in foreign trade. In his early days Alfred Marshall suggested that this analytical device be used also for industrial disputes between workers'...
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demand and excess supply. These disequilibrium periods motivate the discussion of public intervention as a policy proposal … aims to discuss these issues. Design/methodology/approach This study uses a structural disequilibrium model to examine the … model demonstrates that the market is frequently characterized by disequilibrium, fluctuating between periods of excess …
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