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EVOLUTION OF NON-EQUILIBRIUM ANALYSIS
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EVOLUTION OF NON-EQUILIBRIUM ANALYSIS
Annotation
PII
S042473880000616-6-1
Publication type
Article
Status
Published
Authors
V. Manevitch 
Edition
Issue №1
Pages
38-51
Abstract
The development of market disequilibrium analysis is traced in the works of Marshall, Hicks, PA-tinkin, Klauer, and others. The contradictions encountered by non-equilibrium analysis are considered, and ways to overcome them are suggested. It is concluded that non-equilibrium analysis does not contradict neoclassical microeconomic theory and does not require its qualitative revision. At the same time, the apparatus of microeconomic analysis should be consistently modified in relation to the problems that the theory of macroeconomics solves. To construct the theory of General disequilibrium, it is necessary to explicitly introduce the absolute price level, the income effect, and the distribution effect into the Keynesian functions of aggregate supply and demand prices.
Date of publication
01.01.2007
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797
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Additional sources and materials

Kejns Dzh.M. (1948): Obschaya teoriya zanyatosti, protsenta i deneg. M.: Izd-vo inostr. lit.
 
 Marshall A. (1983): Printsipy politicheskoj ehkonomii. T. 1, 2. M.: Progress.
 
 Patinkin D. (2004): Den'gi, protsent i tseny: Soedinenie teorii deneg i teorii stoimosti. M.: Ehkonomika. Khudokormov A.G. (2004): Istoriya ehkonomicheskikh uchenij. Sovremennyj ehtap. M.: Infra-M.
 
 Barro R.J., Grossman H.I. (1971): A General Disequilibrium Model of Income and Employment // The American Econ. Rev. Vol. LXI. № 1. March.
 
 Benessy J.-P. (1975): Neo-Keynesian Disequilibrium Theory in a Monetary Economy // Rev. of Econ. Stud. Vol. XLII (4). № 132. October.
 
 Clower R. (1965): The Keynesian Counterrevolution: A Theoretical Appraisal. In “The Interest Rates” by Hahn F.H., Brechling F.P.R. (eds). London.
 
 Hicks J.R. (1939): Value and Capital. Cambridge: Cambridge University Press.
 
 Leijonhufvud A. (1968): On Keynesian Economics and Economics of Keynes. N.Y.
 
 Sollow R.M., Stiglitz J.E. (1968): Output, Employment, and Wages in the Short Run // The Quarterly J. of Econ. Vol. LXXXII. № 4. November.

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