Short-run rigidities and long-run adjustments in a computable general equilibrium model of income distribution and development

F. Bourguignon, G. Michel, D. Miqueu

Research output: Contribution to journalArticle

Abstract

This paper summarizes the structure of a model of the 'computable general equilibrium' type which incorporates short-run disequilibrium mechanisms stemming from natural rigidities of the economic system. Special attention is also given to the macroeconomic implications of the model. Illustrative simulations based on the Venezuelan economy are reported.

Original languageEnglish (US)
Pages (from-to)21-43
Number of pages23
JournalJournal of Development Economics
Volume13
Issue number1-2
DOIs
StatePublished - 1983

ASJC Scopus subject areas

  • Development
  • Economics and Econometrics

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