This paper introduces two new boundary conditions that ensure the existence of a Walrasian equilibrium in monetary economies violating Walras’ Law and homogeneity of degree zero of the excess demand function on the good markets. The two conditions are more general than those adopted by the existing literature. The existence of a Walrasian equilibrium with free disposal is also considered. As a byproduct of our analysis, a refinement of the celebrated Uzawa’s equivalence Theorem and extensions of the Hartman–Stampacchia and Poincaré–Miranda Theorems are also provided.
Walrasian equilibrium without homogeneity and Walras’ Law
Antonio D'Agata
2022-01-01
Abstract
This paper introduces two new boundary conditions that ensure the existence of a Walrasian equilibrium in monetary economies violating Walras’ Law and homogeneity of degree zero of the excess demand function on the good markets. The two conditions are more general than those adopted by the existing literature. The existence of a Walrasian equilibrium with free disposal is also considered. As a byproduct of our analysis, a refinement of the celebrated Uzawa’s equivalence Theorem and extensions of the Hartman–Stampacchia and Poincaré–Miranda Theorems are also provided.File in questo prodotto:
File | Dimensione | Formato | |
---|---|---|---|
Existence of a Walrasian equilibrium without Walras' Law.pdf
solo utenti autorizzati
Tipologia:
Documento in Post-print
Licenza:
NON PUBBLICO - Accesso privato/ristretto
Dimensione
110.23 kB
Formato
Adobe PDF
|
110.23 kB | Adobe PDF | Visualizza/Apri |
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.