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A Simple Example of Sraffian Indeterminacy in Walrasian General Equilibrium Framework

Naoki Yoshihara and Se Ho Kwak

No 717, Discussion Paper Series from Institute of Economic Research, Hitotsubashi University

Abstract: In contrast toMandler’s (1999; Theorem 6.1) impossibility result about the Sraffian indeterminacy of the steady-state equilibrium, we have proposed a simple example of overlapping generation economy in which generic indeterminacy occurs in the Sraffian steady-state equilibrium.

Keywords: Sraffian indeterminacy; factor income distribution; general equilibrium framework (search for similar items in EconPapers)
JEL-codes: B51 D33 D50 (search for similar items in EconPapers)
Date: 2020-10
New Economics Papers: this item is included in nep-hme
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