Asymptotic stability of a general equilibrium under perfect and monopolistic competition

被引：0
|
作者：
Sakane, Hirokazu [1 ]
机构：
[1] Kansai Univ, Fac Econ, 3-3-35 Yamate Cho, Suita, Osaka 5648680, Japan
来源：
JOURNAL OF MATHEMATICAL ECONOMICS | 2016年 / 63卷
关键词：
General equilibrium; Perfect competition; Monopolistic competition; Stability; Cobweb process; Delay equation; GROSS SUBSTITUTES;
D O I：
10.1016/j.jmateco.2015.11.003
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study examines the asymptotic stability of a general equilibrium for an economy under perfect and monopolistic competition in which delays in a production process arise. Crucially, we find that the sufficient conditions for the stability of the equilibrium in each model differ markedly. For the stability of the equilibrium under perfect (monopolistic) competition, it is favorable that the slope of every demand curve is gradual (steep). (C) 2015 Elsevier B.V. All rights reserved.
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页码：21 / 26
页数：6
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