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Generic Indeterminacy of Steady-State Competitive Equilibria in Walras-von Neumann Production Economies
http://hdl.handle.net/10086/85846
http://hdl.handle.net/10086/8584666b26eea-97a9-45dd-9dba-1ea781ff8d41
| 名前 / ファイル | ライセンス | アクション |
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DP766.pdf (826.4 KB)
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| Item type | デフォルトアイテムタイプ（フル）その２(1) | |||||||||
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| 公開日 | 2025-05-02 | |||||||||
| タイトル | ||||||||||
| タイトル | Generic Indeterminacy of Steady-State Competitive Equilibria in Walras-von Neumann Production Economies | |||||||||
| 言語 | en | |||||||||
| 作成者 |
YOSHIHARA, Naoki
× YOSHIHARA, Naoki
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| 寄与者 | ||||||||||
| 寄与者タイプ | Editor | |||||||||
| 姓名 | Institute of Economic Research, Hitotsubashi University | |||||||||
| 言語 | en | |||||||||
| アクセス権 | ||||||||||
| アクセス権 | open access | |||||||||
| アクセス権URI | http://purl.org/coar/access_right/c_abf2 | |||||||||
| 主題 | ||||||||||
| 言語 | en | |||||||||
| 主題Scheme | Other | |||||||||
| 主題 | generic indeterminacy of Walras-von Neumann steady state equilibria | |||||||||
| 主題 | ||||||||||
| 言語 | en | |||||||||
| 主題Scheme | Other | |||||||||
| 主題 | von Neumann production economies | |||||||||
| 主題 | ||||||||||
| 言語 | en | |||||||||
| 主題Scheme | Other | |||||||||
| 主題 | a finite number of one-dimensional continuums of Walras-von Neumann steady state equilibria | |||||||||
| 内容記述 | ||||||||||
| 内容記述タイプ | Abstract | |||||||||
| 内容記述 | This paper studies the structure of the set of steady-state competitive equilibria defined in a quite generalized von Neumann economic model. First, it is shown that in any von Neumann production economy, there exists an admissible domain of non-negative interest rates such that for every interest rate within the domain, there exists an associated steady state equilibrium. Second, for almost all interest rates within the domain, the associated steady state equilibrium is indeterminate. Thus, in summary, for any von Neumann production economy, there is a dense subset of the admissible domain over which the set of steady state equilibria consists of a finite number of one-dimensional continuums of those equilibria. This property is observed regardless of whether the underlying economy is regular or not, which contrasts sharply with the finite and discrete properties of the other types of Walrasian equilibria in both static and intertemporal regular economies. These main results suggest, as a new, future research agenda, the need to study an appropriate equilibrium selection mechanism that should be applied prior to market competition. | |||||||||
| 言語 | en | |||||||||
| 出版者 | ||||||||||
| 出版者 | Institute of Economic Research, Hitotsubashi University | |||||||||
| 日付 | ||||||||||
| 日付 | 2025-05 | |||||||||
| 日付タイプ | Issued | |||||||||
| 言語 | ||||||||||
| 言語 | eng | |||||||||
| 資源タイプ | ||||||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_18gh | |||||||||
| 資源タイプ | technical report | |||||||||
| 出版タイプ | ||||||||||
| 出版タイプ | VoR | |||||||||
| 出版タイプResource | http://purl.org/coar/version/c_970fb48d4fbd8a85 | |||||||||
| 関連情報 | ||||||||||
| 関連タイプ | isPartOf | |||||||||
| 言語 | en | |||||||||
| 関連名称 | Discussion paper series. A ; No. 766 | |||||||||
| 関連情報 | ||||||||||
| 識別子タイプ | URI | |||||||||
| 関連識別子 | https://www.ier.hit-u.ac.jp/English/ | |||||||||
| 収録物識別子 | ||||||||||
| 収録物識別子タイプ | NCID | |||||||||
| 収録物識別子 | AA11476336 | |||||||||
| ページ数 | ||||||||||
| ページ数 | 40 | |||||||||
| JEL | ||||||||||
| 値 | B51 | |||||||||
| JEL | ||||||||||
| 値 | D33 | |||||||||
| JEL | ||||||||||
| 値 | D50 | |||||||||
