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- Regular_economy abstract "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.An important result due to Debreu (1970) states that almost any economy, defined by an initial distribution of consumer's endowments, is regular. In technical terms, the set of nonregular economies is of Lebesgue measure zero.Combined with the index theorem this result implies that almost any economy will have a finite (and odd) number of equilibria.".
- Regular_economy thumbnail Regular_economy.JPG?width=300.
- Regular_economy wikiPageID "4021383".
- Regular_economy wikiPageLength "1272".
- Regular_economy wikiPageOutDegree "7".
- Regular_economy wikiPageRevisionID "568273590".
- Regular_economy wikiPageWikiLink Andreu_Mas-Colell.
- Regular_economy wikiPageWikiLink Category:General_equilibrium_and_disequilibrium.
- Regular_economy wikiPageWikiLink Excess_demand_function.
- Regular_economy wikiPageWikiLink File:Regular_economy.JPG.
- Regular_economy wikiPageWikiLink Gérard_Debreu.
- Regular_economy wikiPageWikiLink Hopf_index_theorem.
- Regular_economy wikiPageWikiLink Lebesgue_measure.
- Regular_economy wikiPageWikiLink Poincaré–Hopf_theorem.
- Regular_economy wikiPageWikiLinkText "Regular economy".
- Regular_economy wikiPageWikiLinkText "regular economy".
- Regular_economy hasPhotoCollection Regular_economy.
- Regular_economy subject Category:General_equilibrium_and_disequilibrium.
- Regular_economy hypernym Economy.
- Regular_economy type Book.
- Regular_economy type Microeconomic.
- Regular_economy comment "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.".
- Regular_economy label "Regular economy".
- Regular_economy sameAs m.0bcyjw.
- Regular_economy sameAs Q7309596.
- Regular_economy sameAs Q7309596.
- Regular_economy wasDerivedFrom Regular_economy?oldid=568273590.
- Regular_economy depiction Regular_economy.JPG.
- Regular_economy isPrimaryTopicOf Regular_economy.