Neoclassical theory has undergone a radical shift from long-period general equilibirum models to neo-Walrasian general equilibirum models which, owing to given endowments of each capital good, allow no time-consuming disequilibria. This shift is a cause of much-lamented sterility of modern neoclassical analyses. The book discusses the reasons for the shift, and their relevance in explaining many debates, including recent debates on capital theory.
Petri, F. (2004). General Equilibrium, Capital and Macroeconomics. ALDERSHOT : EDWARD ELGAR.
General Equilibrium, Capital and Macroeconomics
PETRI, FABIO
2004-01-01
Abstract
Neoclassical theory has undergone a radical shift from long-period general equilibirum models to neo-Walrasian general equilibirum models which, owing to given endowments of each capital good, allow no time-consuming disequilibria. This shift is a cause of much-lamented sterility of modern neoclassical analyses. The book discusses the reasons for the shift, and their relevance in explaining many debates, including recent debates on capital theory.
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https://hdl.handle.net/11365/15886
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