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On equilibrium with price rigidities and rationing

Guillermo Escudé ()

Brazilian Review of Econometrics, 1984, vol. 4, issue 2

Abstract: Properties of a price dependent rationing scheme are formulated which can handle constrained flexible prices as well as fixed prices. This scheme is applied to prove the existence of an equilibrium which generalizes Benassy's concept of K-equilibrium.

Date: 1984
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Handle: RePEc:sbe:breart:v:4:y:1984:i:2:a:3135