Abstract
The paper presents the basic principles of a computer algorithm, which finds the solution for an open production economy comprising H different (representative) persons and M production sectors. The model includes macro policy instruments. The solution consists of a set of equilibrium prices for goods and one rate of interest, minimum real wage rates per person being given exogeneously, sector by sector.
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© 1976 Springer-Verlag Berlin. Heidelberg New York
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Yndgaard, E. (1976). The outline of a general disequilibrium dynamic model with personal income and wealth distributions. In: Łoś, M., Łoś, J., Wieczorek, A. (eds) Warsaw Fall Seminars in Mathematical Economics 1975. Lecture Notes in Economics and Mathematical Systems, vol 133. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-48296-0_10
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DOI: https://doi.org/10.1007/978-3-642-48296-0_10
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-07871-5
Online ISBN: 978-3-642-48296-0
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