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

F. Bourguignon; G. Michel; D. Miqueu

doi:10.1016/0304-3878(83)90048-2

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

F. Bourguignon, G. Michel, D. Miqueu

Economics

Research output: Contribution to journal › Article › peer-review

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 language	English (US)
Pages (from-to)	21-43
Number of pages	23
Journal	Journal of Development Economics
Volume	13
Issue number	1-2
DOIs	https://doi.org/10.1016/0304-3878(83)90048-2
State	Published - 1983

ASJC Scopus subject areas

Development
Economics and Econometrics

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10.1016/0304-3878(83)90048-2

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

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.",

author = "F. Bourguignon and G. Michel and D. Miqueu",

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AU - Michel, G.

AU - Miqueu, D.

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AB - 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.

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

Abstract

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