Distribution of Income and Aggregation of Demand

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dc.contributor.author Marhuenda, Francisco
dc.date.accessioned 2009-06-12T11:21:50Z
dc.date.accessioned 2010-02-10T16:23:29Z
dc.date.available 2009-06-12T11:21:50Z
dc.date.available 2010-02-10T16:23:29Z
dc.date.issued 1992
dc.identifier.isbn 84-482-0102-7
dc.identifier.uri http://hdl.handle.net/10016/4397
dc.description.abstract We show that, under certain regularity conditions, if the distribution of income IS price independent and satisfies a condition on the shape of its graph, then total market demand, F(p), is monotone, i.e., given two positive prices p, and q, one has (p - q) . (F(p) - F(q)) < O. Similar assumptions on the distributions of endowments, yield a restricted monotonicity property on aggregate excess demand, where, now, wealth is determined by market prices. This is enough, however, to obtain uniqueness and stability of equilibrium for our Walrasian pure exchange model.
dc.format.mimetype text/plain
dc.format.mimetype application/pdf
dc.language.iso eng
dc.publisher IVIE
dc.relation.ispartofseries WP-AD
dc.relation.ispartofseries 92-09
dc.title Distribution of Income and Aggregation of Demand
dc.type workingPaper
dc.subject.eciencia Economía
dc.rights.accessRights openAccess
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