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 of 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 of 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 prod- ucts , make much sense in terms of standard theory . As a result , many people have con ...
... trade . Neither the extensive trade among the industrial countries , nor the prevalence in this trade of two - way exchanges of differentiated prod- ucts , make much sense in terms of standard theory . As a result , many people have con ...
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adjustment Amer analysis assets assumed assumption average behavior budget capital coefficient constant constraint consumer consumer's surplus consumption cost countries curve demand function differential distribution earnings Econ Economic effect efficient elasticity equal equation equilibrium estimates exchange rate expected utility Figure firm foreign exchange market given hypothesis implies income increase indifference curve indirect utility function individual industry inflation interest rate investment investor labor force lagged LDCs marginal marginal utility maximize measure ment monetary money illusion money supply Nash equilibrium nomic optimal output P₁ paper parameters percent period positive price level problem production profits quantity ratio rational expectations regression regulation relative risk aversion Section sector share spot price statistically substitution supply Table tariff Theory tion tive unemployment United University utility function variables wage welfare workers yields zero