Skip to main content

Dynamics of Fixprice Model


This paper examines the dynamics of a class of disequilibrium models developed in an earlier paper (Working Paper 85-04) and uses both graphics and analysis to show that non-Walrasian equilibria can be steady states for disequilibrium models. In particular, it is shown that Keynesian (general excess supply) steady states are the most likely outcome in the model.


Suggested citation: Kades, Eric, 1985. “Dynamics of Fixprice Model,” Federal Reserve Bank of Cleveland, Working Paper no. 85-05.

Upcoming EventsSEE ALL

  • No Upcoming Events to display, please check back soon.