Discover how competitive equilibrium balances supply and demand in markets, maximizing economic efficiency for profit-driven producers and value-seeking consumers.

Explore John R. Hicks' impact on economics, including his Nobel-winning work in general equilibrium and welfare theory, and ...

General equilibrium (GE) theory—long the domain of abstract economic models—has found unexpected relevance in today’s turbulent geopolitical and geofinancial landscape. Originally designed to model ...

There are a wide variety of theoretical general equilibrium models with incomplete security markets. In this paper we give a general recipe for using homotopy algorithm to compute equilibria in these ...

This paper develops a dynamic general equilibrium model to assess the effects of temporary business tax cuts. First, the analysis extends the Ricardian equivalence result to an environment with ...

This paper develops a structural macroeconometric model of the world economy, disaggregated into forty national economies. This panel dynamic stochastic general equilibrium model features a range of ...