Testable Restrictions on the Equilibrium Manifold

Donald Brown () and Rosa L. Matzkin
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Rosa L. Matzkin: Cowles Foundation, Yale University, http://cowles.econ.yale.edu/

No 1109, Cowles Foundation Discussion Papers from Cowles Foundation, Yale University

Abstract: We present a finite system of polynomial inequalities in unobservable variables and market data that observations on market prices, individual incomes and aggregate endowments must satisfy to be consistent with the equilibrium behavior of some pure trade economy. Quantifier elimination is used to derive testable propositions on finite data sets for the pure trade model.

Keywords: General equilibrium; nonparametric restrictions; quantifier elimination (search for similar items in EconPapers)
JEL-codes: D51 (search for similar items in EconPapers)
Date: 1995-08
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Published in Econometrica (1996), 64(5): 1249-1262

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Journal Article: Testable Restrictions on the Equilibrium Manifold (1996)
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