The classical dichotomy in the Walrasian system : a critical examination
Part of : Σπουδαί : journal of economics and business ; Vol.41, No.2, 1991, pages 135-146
Issue:
Pages:
135-146
Author:
Abstract:
Walras' general equilibrium model with money is presented and the allegation that it retains the classical invalid dichotomy is re examined. It is shown that, although mathematically incorrect, the model retains the properties of a consistent system and a slight modification makes it determinate without changing its basic features. In fact Walras' model is shown to be equivalent to the standard neoclassical general equilibrium model with money as developed mainly by Patinkin.
Subject (LC):
Notes:
Περιέχει σημειώσεις και βιβλιογραφία
