The American Economic Review, Volume 70,Edições 3-5American Economic Association., 1980 Includes annual List of doctoral dissertations in political economy in progress in American universities and colleges; and the Hand book of the American Economic Association. |
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Página 402
... trade . That is , we will show that as o2 gets very small , trade goes to zero and markets serve no function . Thus competitive markets close for lack of trade " before " equilibrium ceases to exist at o2 = 0 . III . On the Thinness of ...
... trade . That is , we will show that as o2 gets very small , trade goes to zero and markets serve no function . Thus competitive markets close for lack of trade " before " equilibrium ceases to exist at o2 = 0 . III . On the Thinness of ...
Página 403
... trade is zero . ( b ) As the precision of informed traders ' information n goes to infinity , the mean and variance of trade go to zero . PROOF : ( a ) From remark 1 ) in Section II , Part I , λ = 1 if c < ĉ , which from ( 23 ) and ( 24 ) ...
... trade is zero . ( b ) As the precision of informed traders ' information n goes to infinity , the mean and variance of trade go to zero . PROOF : ( a ) From remark 1 ) in Section II , Part I , λ = 1 if c < ĉ , which from ( 23 ) and ( 24 ) ...
Página 950
... trade . Neither the extensive trade among the industrial countries , nor the prevalence in this trade of two - way exchanges of differentiated products , make much sense in terms of standard theory . As a result , many people have ...
... trade . Neither the extensive trade among the industrial countries , nor the prevalence in this trade of two - way exchanges of differentiated products , make much sense in terms of standard theory . As a result , many people have ...
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adjustment analysis assets assumed assumption average behavior capital coefficient consider constant consumer consumption cost countries curve defined demand depends derived determined developed discussion distribution earnings Econ Economic effect efficient equal equation equilibrium estimates example exchange exist expected Figure firm follows foreign function given growth hold implies important income increase individual industry inflation initial interest International investment labor less marginal maximize mean measure ment monetary Note observed obtained optimal output percent period positive possible preferences present problem production profits quantity ratio reduced regulation relative respect risk saving share social substitution supply Table Theory tion trade unemployment United University utility utility function variables wage welfare workers yields zero