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Symmetry-breaking and trade in neoclassical economies with domestic policies having diminishing effect to production scale [PDF]
Fulbright Review of Economics and Policy, 2023 Purpose – The aim of this paper is to investigate whether a Nash equilibrium of a two-country trading economy is symmetry-breaking or not. Design/methodology/approach – The approach to tackle this topic is a theoretical treatment by the general ...
Tsuyoshi Shinozaki +2 more
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A general equilibrium theory of banks' capital structure
Journal of Economics Theory, 2020 We develop a general equilibrium theory of the capital structures of banks and firms. The liquidity services of bank deposits make deposits a “cheaper” source of funding than equity.
Douglas Gale, P. Gottardi
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Léon Walras, Irving Fisher and the Cowles Approach to General Equilibrium Analysis
Œconomia, 2021 This paper explores the relationship of Walras’s work to a particularly influential tradition of general equilibrium, that associated with the Cowles Commission for Research in Economics in Colorado in the 1930s and at the University of Chicago from 1939
Robert W. Dimand
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Entrepreneurship and Equilibrium
Mises, 2021 Neoclassic economic theory regards equilibrium, whether general or partial, as a crucially important foundation of the dismal science[1]. In the view of mainstream economists, the general equilibrium framework not only an investigation of the economy in ...
Ying Tang, Walter Block, David Gordon
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Arrow-Debreu Model versus Kornai-critique [PDF]
Athens Journal of Business & Economics, 2017 More than forty-five years have passed since János Kornai published his book entitled „Anti-equilibrium” (Kornai, 1971). This was the first scientific work in the international literature that provided a comprehensive critique on the general equilibrium ...
József Móczár
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A Growth Theory Based on Walrasian General Equilibrium, Solow-Uzawa Growth, and Heckscher-Ohlin Trade Theories [PDF]
Interdisciplinary Description of Complex Systems, 2018 The purpose of this study is to analyse the role of preferences and technological differences between countries in determining dynamics of capital accumulation, wealth and income distribution within countries and between countries, and patterns of trade ...
Wei-Bin Zhang
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The general equilibrium theory as economic metatheory
Brazilian Journal of Political Economy, 2015 Many economists show certain nonconformity relative to the excessive mathematical formalization of economics. This stems from dissatisfaction with the old debate about the lack of correspondence between mainstream theoretical models and reality. Although
MAURICIO MARTINELLI LUPERI
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Welfare evaluation of subsidies to renewable energy in general equilibrium: Theory and application
Energy Economics, 2019 While support schemes to renewable energy are ubiquitous around the world today, there are few systematic welfare evaluations of their social benefits and costs in an economy-wide setting.
P. Johansson, B. Kriström
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Marx and Input-Output Analysis and General Equilibrium Theory
World Review of Political Economy, 2016 This article shows the following: (1) Marx has given a description of the relationship between industries, which is equivalent to Walras's theoretical version of input-output and to Leontief's empirical (monetary) input-output analysis.
Ezra Davar
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Accounting and its Relationship to General Equilibrium Theory
Accounting, Economics, and Law: A Convivium, 2019 Accounting both for macro and microeconomic purposes deals with process and dynamics. Much of the best microeconomic theory has dealt only with statics.
M. Shubik
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