General Equilibrium, Growth, and Trade, Volume II: The Legacy of
Lionel McKenzie presents the impact of Lionel McKenzie's contributions
on modern economics. This book discusses McKenzie's researches that
are relevant in applied economic fields, including general
equilibrium, optimal growth, and international trade. Organized into
three parts encompassing 24 chapters, this volume begins with an
overview of the existence of competitive equilibrium in an economy
with a finite number of agents and commodities. This text then
presents two analyses that are basically responses to criticism of the
development of real indeterminacy. Other chapters consider McKenzie's
assumption of irreducibility, which plays a significant role in
showing how compensated equilibria will be uncompensated equilibria
because agents have cheaper net trade vectors in their feasible sets.
This book discusses as well some properties of competitive equilibria
for dynamic exchange economies with an infinite horizon and incomplete
financial markets. This book is a valuable resource for economists and
economic theorists.
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Produktdetaljer
ISBN
9781483216386
Publisert
2016
Utgiver
Vendor
Academic Press
Språk
Product language
Engelsk
Format
Product format
Digital bok
Forfatter