Competitive equilibrium allocations are indeterminate when the net trades in commodities are constrained, while the …

markets populated by them converge near the equilibrium derived from optimization assumptions. These findings point to market …

capability to optimize; yet outcomes of markets populated by them converge near the equilibrium derived from optimization …

We build a one-period general equilibrium model with money. Equilibrium exists, and fiat money has positive value, as …

This paper explores the general equilibrium impact of social security portfolio diversification into private securities …

, but requires policymakers to have records of those trades. While reasonable in some partial equilibrium contexts, such an … assumption is implausible in general equilibrium. To diminish informational requirements further, we also consider price … applications of quantity and price stabilization, both partial equilibrium and general equilibrium: removal of rent controls …

We build a one-period general equilibrium model with money. Equilibrium exists, and fiat money has positive value, as …

standard assumptions, competitive equilibria exist. But, competitive equilibrium allocations need not satisfy a condition of …, competitive equilibrium allocations are generically indeterminate -- they are determinate if firm consider the commodity payoffs …

We show that in almost every economy with separable externalities, every competitive equilibrium can be Pareto improved …