|
|
Multi-cone equilibrium |
|
|
|
 Home Site Map Add Term Search About Us Contributors |
Multi-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.Similar MatchesPartial equilibriumPartial equilibriumEquality of supply and demand in only a subset of an economy's markets -- usually just one -- taking variables from other markets as given. Partial equilibrium models are appropriate for products that constitute only a negligibly small part of the economy. They are used routinely (not always appropriately) for analysis of trade policies in single industries. Contrasts with general equilibrium. Equilibrium exchange rateEquilibrium exchange rateExchange rate at which demand for a currency is equal to the supply of the currency in the economy. Computable general equilibriumComputable 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. Equilibrium positionEquilibrium positionSame as equilibrium level, though perhaps of several variables at once, perhaps as displayed in a graph. DisequilibriumDisequilibrium1. Inequality of supply and demand. 2. A untenable state of an economic system, from which it may be expected to change. Further SuggestionsEquilibriumMarket equilibrium General equilibrium Equilibrium price Balance of payments equilibrium Nash equilibrium Equilibrium rate of interest Equilibrium level One cone equilibrium Equilibrium Two cone equilibrium |
|
|
|