Dampening General Equilibrium: From Micro to Macro
收藏NBER2017-05-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w23379
下载链接
链接失效反馈官方服务：
资源简介：
We argue that standard modeling practices often overstate the potency of general-equilibrium (GE) mechanisms. We formalize the notion that GE adjustment is weak, or that it takes time, by modifying an elementary Walrasian economy in two alternative manners. In one, we replace Rational Expectations
提供机构：
美国国家经济研究局
创建时间：
2017-05-01
