General Equilibrium, Growth, And Trade Ii

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    General Equilibrium, Growth, and Trade II
    The Legacy of Lionel McKenzie
    By: Robert Becker
    Publisher:
    Academic Press
    Print ISBN: 9780120846559, 0120846551
    eText ISBN: 9781483216386, 1483216381
    Copyright year: 1993
    Format: PDF
    Available from $ 93.95 USD
    SKU 9781483216386
    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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