Equilibrium Possibilities and Adjustment Mechanisms Under Disequilibrium Conditions

B. K. Vashist
Additional contact information
B. K. Vashist: Kurukshetra University

Indian Economic Review, 1994, vol. 29, issue 2, 211-222

Abstract: Disequilibrium analysis typically assumes that exchange takes place at false prices. Many ways have been devised to integrate markets in disequilibrium. One of these is the assumption that supply of and demand for labour are determined by the real wage. This paper questions this assumption and suggests an alternative approach under which functioning of the labour markets is conditioned by the situation in the commodity markets. The distinguishing feature of this approach is that it rules out the possibility of excess supply quasi equilibrium.

JEL-codes: E12 (search for similar items in EconPapers)
Date: 1994
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:dse:indecr:v:29:y:1994:i:2:p:211-222

Ordering information: This journal article can be ordered from
http://www.ierdse.org/

Access Statistics for this article

Indian Economic Review is currently edited by Pami Dua (Editor) & Ram Singh (Associate Editor) and Sunil Kanwar

More articles in Indian Economic Review from Department of Economics, Delhi School of Economics University of Delhi, Delhi 110 007. Contact information at EDIRC.
Bibliographic data for series maintained by Pami Dua ().