Title of article :
Monotonicity of equilibrium prices with respect to aggregate resources
Author/Authors :
Christophe Préchac، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 1998
Abstract :
In the pure exchange general equilibrium framework, we show that monotonicity of relative prices of equilibrium selections with respect to small movements of aggregate resources is only obtained when all consumers have identical homothetic and MRS-monotone preferences.
Keywords :
General equilibrium: Monotonicity: Comparative statics
Journal title :
Economics Letters
Journal title :
Economics Letters