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Working Paper

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 explicitly for dynamic extension in a companion piece Working Paper 85-05.

Working Papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to stimulate discussion and critical comment on research in progress. They may not have been subject to the formal editorial review accorded official Federal Reserve Bank of Cleveland publications. The views expressed in this paper are those of the authors and do not represent the views of the Federal Reserve Bank of Cleveland or the Federal Reserve System.

Suggested Citation

Kades, Eric. 1985. “Fixprice Models for Dynamic Studies.” Federal Reserve Bank of Cleveland, Working Paper No. 85-04.