Results 251 to 260 of about 167,357 (305)

Endogenous Trading Uncertainty and Macroeconomic Equilibrium

The Economic Journal, 1983
This paper explores the analogy between equilibrium under flexible prices and equilibrium under fixed prices in a large decentralised economy characterised by trading uncertainty. To price dispersion in the former there corressponds 'quantity dispersion' in the latter.
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Macroeconomics and Economic Equilibrium

1999
Macroeconomics is the study of aggregate economic activities such as employment, price level and the generation of national income involving a large system of aggregate socio-economic variables that relate to these above principal macroeconomic activities.
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General equilibrium macroeconomic models and superior information

Applied Economics Letters, 2002
This paper presents and assessess a procedure to evaluate dynamic, stochastic, general equilibrium macroeconomic models when agents in the economy use an information set superior to that used by researchers.
Martin Boileau, Michel Normandin
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Macroeconomic Equilibrium and Employment

2000
I now turn to a perennial question in macroeconomics since the time the General Theory was published: Can an economy be in equilibrium at less than full employment? Keynes’s answer in the General Theory was a clear yes. His reasoning (and mechanism) was that aggregate output and income are determined by the Principle of Effective Demand.
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Creditor recovery: The macroeconomic dependence of industry equilibrium [PDF]

Journal of Financial Stability, 2013
Abstract This paper reconciles the state of the economy with industry conditions in driving asset liquidation values and, therefore, recovery rates on defaulted debt securities. Evidence to date downplays the economywide effect in favor of industry and debt characteristic explanations.
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Macroeconomic Determinants of Equilibrium Unemployment Insurance

LABOUR, 2001
This paper proposes a new modeling strategy as regards the definition of an optimal level of unemployment benefits. While the traditional methodology privileges labor market equilibrium to derive optimal employment, wage and unemployment benefit levels, we present a model in which the optimal level of unemployment benefits is a function of the ...
Francisco G. Carneiro, João Ricardo Faria   +1 more
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Macroeconomic Equilibrium

2023
Vasilii Erokhin, Gao Tianming, Jean Vasile Andrei   +2 more
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General Equilibrium, Capital and Macroeconomics

2004
Neoclassical theory has undergone a radical shift from long-period general equilibirum models to neo-Walrasian general equilibirum models which, owing to given endowments of each capital good, allow no time-consuming disequilibria. This shift is a cause of much-lamented sterility of modern neoclassical analyses.
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MACROECONOMIC VOLATILITY IN GENERAL EQUILIBRIUM [PDF]

, 1997
In this paper we explore the concept of excess volatility in general equilibrium. We show there is a fundamental tension between household efforts to smooth consumption and attempts by firms’ to smooth investment in the presence of convex adjustment costs in capital formation.
Warwick J McKibbin, Peter J Wilcoxen
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Different Forms of Macroeconomic Equilibrium

1999
The objective of economic models is to explain the series of interactions among the following major sectors of the macroeconomy: the product market, the labour market, the monetary sector and the expenditure sector. Out of such sectoral interactions is established finally a potential level of output for the economy as a whole.
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