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General Equilibrium Theory with Market Frictions. Part I. Quantity Equilibrium with Rational Expectations.

机译：市场摩擦的一般均衡理论。第一部分理性预期的数量均衡。

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摘要

This paper demonstrates the existence of a rational expectations, quantity equilibrium in a general equilibrium model of an economy with market fritions. A market is said to have frictions if buyers and sellers have trouble finding each other, if it is costly for them to search for each other, and if it is costly to wait to buy or sell. Equilibrium is a stationary probability distribution over the set of possible time paths of states of the economy. This equilibrium reflects rational expectations if all agents know the stationary distribution of the variables they observe and if they exploit this information. Prices are fixed and are not necessarily equilibrium prices in any sense. (Author)

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作者
Bewley, T.;
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作者单位

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年度 1978
页码 1-51
总页数 51
原文格式 PDF
正文语种 eng
中图分类工业技术;
关键词
Economics; Equilibrium(General); Quantity; Models; Consumers; Equations; Interactions; Marketing; Prices;

机译：经济;平衡（一般）;数量;模型;消费者;方程;相互作用;市场营销;价格;

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General Equilibrium Theory with Market Frictions. Part I. Quantity Equilibrium with Rational Expectations.

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