General equilibrium

 

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General equilibrium

Equality of supply and demand in all markets of an economy simultaneously. The number of markets does not have to be large. The simplest Ricardian model has markets only for two goods and one factor, labor, but this is a general equilibrium model. Contrasts with partial equilibrium.



Similar Matches

Equilibrium rate of interest

Equilibrium rate of interest

The interest rate that clears the market. Also called the trade-clearing interest rate.


Disequilibrium

Disequilibrium

1. Inequality of supply and demand. 2. A untenable state of an economic system, from which it may be expected to change.


Computable general equilibrium

Computable general equilibrium

Refers 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.


Equilibrium

Equilibrium

The stable state of the system. See: Attractor.


Balance of payments equilibrium

Balance of payments equilibrium

Meaningful only under a pegged exchange rate, this referred to equality of credits and debits in the balance of payments using the traditional definition of the capital account. A surplus or deficit implied changing official reserves, so that something would ultimately have to change.


Further Suggestions

Equilibrium
One cone equilibrium
Equilibrium position
Equilibrium exchange rate
Partial equilibrium
Market equilibrium
Nash equilibrium
Multi-cone equilibrium
Equilibrium level
Two cone equilibrium
Equilibrium price


 
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