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Computable general equilibrium |
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Computable general equilibriumRefers to economic models of microeconomic behavior in multiple markets of one or more economies, solved computationally for equilibrium values or changes due to specified policies. The equations are anchored with data from the countries being modeled, while behavioral parameters are either assumed or adapted from estimates elsewhere.Similar MatchesEquilibrium rate of interestEquilibrium rate of interestThe interest rate that clears the market. Also called the trade-clearing interest rate. EquilibriumEquilibriumThe stable state of the system. See: Attractor. Multi-cone equilibriumMulti-cone equilibriumA free-trade equilibrium in the Heckscher-Ohlin Model in which prices are such that all goods cannot be produced within a single country, and instead there are multiple diversification cones. This, or a two cone equilibrium, will arise if countries' factor endowments are sufficiently dissimilar compared to factor intensities of industries. Contrasts with one cone equilibrium. One cone equilibriumOne cone equilibriumA free-trade equilibrium in the Heckscher-Ohlin Model in which prices are such that all goods can be produced within a single country, and there is only one diversification cone. This will arise if countries' factor endowments are sufficiently similar compared to factor intensities of industries. Contrasts with multi-cone equilibrium. Market equilibriumMarket equilibriumEquality of supply and demand. See equilibrium. Further SuggestionsEquilibriumTwo cone equilibrium Disequilibrium Nash equilibrium Equilibrium exchange rate Equilibrium position General equilibrium Balance of payments equilibrium Equilibrium price Equilibrium level Partial equilibrium |
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