Abstract
Today the advances made in research on temporary fixed-price equilibria have made it a proven fact that macroeconomic theory can be founded on microeconomic bases. Globally, this research is at present concerned with either theoretical work aiming at enlarging the framework of the 'three-goods model', or else it deals with often complex econometric means used to estimate the various disequilibrium regimes at work in the economy. The object of the small-scale model described here is not to present new theoretical contributions to the disequilibrium theory, nor does it set out to provide ‘disequilibrium’ estimates of structural parameters. It has been developed in order to:
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show that there is a simple means of simulating the various regimes of disequilibrium models and thus explain in a pedagogical manner both the static and dynamic operation of this kind of model;
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establish a link between this summarising presentation as encountered in recent work on disequilibrium and some of the studies on the structure and specification of traditional macroeconomic models
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© 1984 Martinus Nijhoff Publishers, The Hague
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Bureau, D., Miqueu, D., Norotte, M. (1984). The Disequilibrium Theory in Macroeconomic Models: A Small-Scale Model. In: Ancot, J.P. (eds) Analysing the Structure of Econometric Models. Advanced Studies in Theoretical and Applied Econometrics, vol 2. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-6098-5_9
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DOI: https://doi.org/10.1007/978-94-009-6098-5_9
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