The macroeconomics of disequilibrium

dc.contributor.author	Duménil, Gérard
dc.contributor.author	Lévy, Dominique
dc.date.accessioned	2015-04-17T12:30:56Z
dc.date.available	2015-04-17T12:30:56Z
dc.date.issued	1987
dc.identifier.uri	https://basepub.dauphine.fr/handle/123456789/14971
dc.language.iso	en	en
dc.subject	Equilibrium (Economics)	en
dc.subject	disequilibrium	en
dc.subject.ddc	338.5	en
dc.subject.classificationjel	D50	en
dc.subject.classificationjel	D03	en
dc.subject.classificationjel	D23	en
dc.title	The macroeconomics of disequilibrium	en
dc.type	Article accepté pour publication ou publié
dc.description.abstracten	It is shown that it is possible to construct a disequilibrium microeconomics in which agents react to the evidence of disequilibrium (inventories, nonnormal ratio of capacity utilization, etc.). In a one good model, we describe the set of fixed points In addition to normal equilibrium, two stationary disequilibria also exist (or regimes of long-term disequilibrium): overheating and inferior states. The set of fixed points which are locally stable displays the shape of a pitchfork.	en
dc.relation.isversionofjnlname	Journal of Economic Behavior and Organization
dc.relation.isversionofjnlvol	8	en
dc.relation.isversionofjnlissue	3	en
dc.relation.isversionofjnldate	1987
dc.relation.isversionofjnlpages	377-395	en
dc.relation.isversionofdoi	http://dx.doi.org/10.1016/0167-2681(87)90051-5	en
dc.relation.isversionofjnlpublisher	Elsevier	en
dc.subject.ddclabel	Microéconomie	en
dc.relation.forthcoming	non	en
dc.relation.forthcomingprint	non	en

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