Kansai University · Faculty of Economics / Graduate School of Economics · 教授

Research keywordsgeneral equilibrium theory・monopolistic competition・production delays・coalition production economies・equilibrium stability・oligopolistic competition

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• This study examines the asymptotic stability of a general equilibrium for an economy under perfect and monopolistic competition in which delays in a production process arise. Crucially, we find that the sufficient conditions for the stability of the equilibrium in each model differ markedly. For the stability of the equilibrium under perfect (monopolistic) competition, it is favorable that the slope of every demand curve is gradual (steep). (C) 2015 Elsevier B.V. All rights reserved.2015 · 論文
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