Equilibrium, Trade, and Capital Accumulation |
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Authors: | Lionel McKenzie |
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Affiliation: | University of Rochester, New York |
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Abstract: | The paper summarizes the author's principal contributions to economic theory: (1) one of the first rigorous proofs of the existence of competitive equilibrium; (2) existence of competitive equilibrium with weakened assumptions; (3) the minimum income approach to demand theory; (4) tatonnement stability with weak gross substitutes; (5) a general theory of comparative advantage; (6) factor price equalization with attention to factor supplies; and (7) turnpike theory allowing for von Neumann facets and neighbourhood convergence. JEL Classification Number: B10 |
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