On equilibrium with price rigidities and rationing

Authors

  • Guillermo Escudé Instituto de Investigaciones Económicas, Facultad de Ciencias Económicas, Universidad de Buenos Aires, Argentina.

DOI:

https://doi.org/10.12660/bre.v4n21984.3135

Abstract

Properties of a price dependent rationing scheme are formulated which can handle constrained flexible prices as well as fixed prices. This scheme is applied to prove the existence of an equilibrium which generalizes Benassy's concept of K-equilibrium.

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Published

1984-11-02

Issue

Vol. 4 No. 2 (1984)

Section

Articles