Interest, profit and saving in Arrow-Debreu equilibrium models

Saverio Fratini

Bulletin of Political Economy, 2020, vol. 14, issue 1, 39-53

Abstract: The paper aims to point out that the concepts of interest, profit and saving that we come across in the Arrow-Debreu equilibrium models are significantly different from what is usually indicated by these same terms in economic analysis. In fact, in the Arrow-Debreu models, they are not related to the investment of capital. As we shall try to show, the difficulties that the Arrow-Debreu theory encounters with reference to capital and related concepts derive from the hypothesis of markets open in a single moment that characterizes these models.

Keywords: Arrow-Debreu general equilibrium; own-rate of interest; firm profit; saving (search for similar items in EconPapers)
JEL-codes: D11 D15 D46 D51 (search for similar items in EconPapers)
Date: 2020
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Working Paper: Interest, profit and saving in Arrow-Debreu equilibrium models (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:awu:journl:v:14:y:2020:i:1:p:39-53

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