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  2. General equilibrium theory - Wikipedia

    en.wikipedia.org/wiki/General_equilibrium_theory

    The structural equilibrium model is a matrix-form computable general equilibrium model in new structural economics. [30] [31] This model is an extension of the John von Neumann's general equilibrium model (see Computable general equilibrium for details). Its computation can be performed using the R package GE.

  3. Computable general equilibrium - Wikipedia

    en.wikipedia.org/wiki/Computable_general_equilibrium

    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.

  4. Classical general equilibrium model - Wikipedia

    en.wikipedia.org/wiki/Classical_general...

    The classical general equilibrium model aims to describe the economy by aggregating the behavior of individuals and firms. [1] Note that the classical general equilibrium model is unrelated to classical economics, and was instead developed within neoclassical economics beginning in the late 19th century.

  5. IS–LM model - Wikipedia

    en.wikipedia.org/wiki/IS–LM_model

    The IS–LM model, or Hicks–Hansen model, is a two-dimensional macroeconomic model which is used as a pedagogical tool in macroeconomic teaching. The IS–LM model shows the relationship between interest rates and output in the short run in a closed economy .

  6. Arrow–Debreu model - Wikipedia

    en.wikipedia.org/wiki/Arrow–Debreu_model

    In mathematical economics, the Arrow–Debreu model is a theoretical general equilibrium model. It posits that under certain economic assumptions (convex preferences, perfect competition, and demand independence), there must be a set of prices such that aggregate supplies will equal aggregate demands for every commodity in the economy.

  7. Heckscher–Ohlin model - Wikipedia

    en.wikipedia.org/wiki/Heckscher–Ohlin_model

    The original H–O model assumed that the only difference between countries was the relative abundances of labour and capital. The original Heckscher–Ohlin model contained two countries, and had two commodities that could be produced. Since there are two (homogeneous) factors of production this model is sometimes called the "2×2×2 model".

  8. Economic equilibrium - Wikipedia

    en.wikipedia.org/wiki/Economic_equilibrium

    Market equilibrium in this case is a condition where a market price ... in the neoclassical growth model, starting from one dynamic equilibrium based in part on one ...

  9. Walras's law - Wikipedia

    en.wikipedia.org/wiki/Walras's_law

    Thus, if all markets but one are in equilibrium, then that last market must also be in equilibrium. This last implication is often applied in formal general equilibrium models. In particular, to characterize general equilibrium in a model with m agents and n commodities, a modeler may impose market clearing for n – 1 commodities and "drop the ...