General equilibrium

Look at other dictionaries:

• General equilibrium — theory is a branch of theoretical microeconomics. It seeks to explain the behavior of supply, demand and prices in a whole economy with several or many markets. It is often assumed that agents are price takers and in that setting two common… …   Wikipedia

• general equilibrium — ➔ equilibrium * * * general equilibrium UK US noun [U] ► ECONOMICS a theory that tries to explain the behaviour of supply, demand, and prices in the economy as a whole: »The general equilibrium method is becoming an essential tool for the… …   Financial and business terms

• general equilibrium — noun : simultaneous equilibrium for all economic variables …   Useful english dictionary

• General Equilibrium Theory — studies supply and demand fundamentals in an economy with multiple markets, with the objective of proving that all prices are at equilibrium. The theory analyzes the mechanism by which the choices of economic agents are coordinated across all… …   Investment dictionary

• Computable general equilibrium — (CGE) models are a class of economic models that use actual economic data to estimate how an economy might react to changes in policy, technology or other external factors. CGE models are also referred to as AGE (applied general equilibrium)… …   Wikipedia

• Applied general equilibrium — (AGE) models were pioneered by Herbert Scarf at Yale University in 1967, in two papers, and a follow up book with Terje Hansen in 1973, with the aim of empirically estimating the Arrow Debreu General equilibrium model with empirical data, to… …   Wikipedia

• Dynamic stochastic general equilibrium — modeling (abbreviated DSGE or sometimes SDGE or DGE) is a branch of applied general equilibrium theory that is influential in contemporary macroeconomics. The DSGE methodology attempts to explain aggregate economic phenomena, such as economic… …   Wikipedia

• Classical general equilibrium model — The classical general equilibrium model aims to describe the economy by aggregating the behavior of individuals and firms. Note that the classical general equilibrium model is unrelated to classical economics, and was instead developed within… …   Wikipedia

• Equilibrium — is the condition of a system in which competing influences are balanced and it may refer to:cienceBiology* Equilibrioception, the sense of balance present in humans and animals * Homeostasis, the ability of an open system, especially living… …   Wikipedia

• equilibrium — The stable state of the system. Bloomberg Financial Dictionary See: attractor. Bloomberg Financial Dictionary * * * equilibrium e‧qui‧lib‧ri‧um [ˌiːkwˈlɪbriəm] noun [uncountable] ECONOMICS the idea that there is a situation in an economy where… …   Financial and business terms

• General glut — A general glut is caused by too much production in all fields of production in comparison with what resources are available to consumption to purchase said production.The general glut problem is a problem identified within the classical political …   Wikipedia