An intertemporal general equilibrium model with given real wage rates [An article from: Structural Change and Economic Dynamics]

This digital document is a journal article from Structural Change and Economic Dynamics, published by Elsevier in 2004. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.

Description:
The paper proposes a general equilibrium model based on the classical assumption that the real wage rate is determined from outside the system of production. In this model, the Walrasian auctioneer in the labor market is replaced by a flexible accumulation rate. Several equilibrium concepts are introduced and studied.