Fixprice Models for Dynamic Studies
This paper constructs fixprice (or disequilibrium) models of a simple general equilibrium macroeconomic model. Although within the general framework of Malinvaud (1977), we start with simpler models to explain the basic idea of disequilibrium. Later models are more fully developed so that firms as well as households can hold stocks. These static models are developed explicitely for dynamic extension in a companion piece Working Paper 85-05.
Suggested citation: Kades, Eric, 1985. “Fixprice Models for Dynamic Studies,” Federal Reserve Bank of Cleveland, Working Paper no. 85-04.