Comparative Welfare Properties of General Equilibrium

Takashi Hayashi ()
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Takashi Hayashi: University of Glasgow

Chapter Chapter 18 in Microeconomic Theory for the Social Sciences, 2021, pp 269-274 from Springer

Abstract: Abstract General equilibrium analysis sometimes provides counter-intuitive comparative welfare results which we do not have in partial equilibrium analysis, when the underlying economic environment is variable, even when efficiency is achieved under fixed environment. This is due to the possibility of changes in relative prices, which result in changes in income. Here I present some of them.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-3541-0_18

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DOI: 10.1007/978-981-16-3541-0_18

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