Regular economy
id:
regular-economy-266-6938762
title:
Regular economy
text:
A regular economy is an economy characterized by an excess demand function which has the property that its slope at any equilibrium price vector is non-zero. In other words, if we graph the excess demand function against prices, then the excess demand function "cuts" the x-axis assuring that each equilibrium is locally unique. Local uniqueness in turn permits the use of comparative statics - an analysis of how the economy responds to external shocks - as long as these shocks are not too large. A
brand slug:
wiki
category slug:
encyclopedia
description:
original url:
https://en.wikipedia.org/wiki/Regular_economy
date created:
date modified:
2023-03-24T17:25:05Z
main entity:
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image:
{"content_url":"https://upload.wikimedia.org/wikipedia/commons/2/27/Regular_economy.JPG","width":575,"height":424}
fields total:
13
integrity:
14