On Non-equilibrium in Some Steady States

Jose Encarnacion

No 199405, UP School of Economics Discussion Papers from University of the Philippines School of Economics

Abstract: Non-equilibrium is shown for a steady state in Grandmont and Younes (1973) and a steady state in McCallum (1984). The reason for non-equilibrium, which is the same in both cases, can be stated as a general proposition.

Date: 1994-07
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Published as UPSE Discussion Paper No.1994-05, July 1994

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