Matches in SemOpenAlex for { <https://semopenalex.org/work/W3123943103> ?p ?o ?g. }
Showing items 1 to 79 of
79
with 100 items per page.
- W3123943103 abstract "Abstract The standard Walrasian equilibrium theory requires that the marginal value product of production factor such as labor is equal across firms and industries. However, productivity dispersion is widely observed in the real economy. Search theory allegedly fills this gap by encompassing apparent disequilibrium phenomena in the neoclassical equilibrium framework. Taking up Lucas and Prescott (1974) as a primary example, we show that the neoclassical search theory cannot explain the observed pattern of productivity dispersion. Non-self-averaging, a concept little known to economists, plays the major role. Empirical observation suggests strongly the presence of disturbing forces which dominate equilibrating forces due to optimizing behavior of economic agents. We must seek a new concept of equilibrium different from the standard Walrasian equilibrium in macroeconomics." @default.
- W3123943103 created "2021-02-01" @default.
- W3123943103 creator A5034413775 @default.
- W3123943103 creator A5072709200 @default.
- W3123943103 date "2009-09-30" @default.
- W3123943103 modified "2023-09-27" @default.
- W3123943103 title "The Nature of Equilibrium in Macroeconomics: A Critique of Equilibrium Search Theory" @default.
- W3123943103 cites W1967318355 @default.
- W3123943103 cites W1971675583 @default.
- W3123943103 cites W2014606773 @default.
- W3123943103 cites W2045226782 @default.
- W3123943103 cites W2047035789 @default.
- W3123943103 cites W2052054968 @default.
- W3123943103 cites W2090026010 @default.
- W3123943103 cites W2145803218 @default.
- W3123943103 cites W2146207816 @default.
- W3123943103 cites W2167728196 @default.
- W3123943103 cites W2766214425 @default.
- W3123943103 cites W3121467516 @default.
- W3123943103 cites W3124753992 @default.
- W3123943103 cites W3144999913 @default.
- W3123943103 cites W4240182525 @default.
- W3123943103 cites W952066058 @default.
- W3123943103 doi "https://doi.org/10.5018/economics-ejournal.ja.2009-37" @default.
- W3123943103 hasPublicationYear "2009" @default.
- W3123943103 type Work @default.
- W3123943103 sameAs 3123943103 @default.
- W3123943103 citedByCount "2" @default.
- W3123943103 countsByYear W31239431032014 @default.
- W3123943103 crossrefType "journal-article" @default.
- W3123943103 hasAuthorship W3123943103A5034413775 @default.
- W3123943103 hasAuthorship W3123943103A5072709200 @default.
- W3123943103 hasBestOaLocation W31239431031 @default.
- W3123943103 hasConcept C103382277 @default.
- W3123943103 hasConcept C118487528 @default.
- W3123943103 hasConcept C133425853 @default.
- W3123943103 hasConcept C139719470 @default.
- W3123943103 hasConcept C144237770 @default.
- W3123943103 hasConcept C162324750 @default.
- W3123943103 hasConcept C165404738 @default.
- W3123943103 hasConcept C175444787 @default.
- W3123943103 hasConcept C204983608 @default.
- W3123943103 hasConcept C2778146401 @default.
- W3123943103 hasConcept C71924100 @default.
- W3123943103 hasConcept C98306058 @default.
- W3123943103 hasConceptScore W3123943103C103382277 @default.
- W3123943103 hasConceptScore W3123943103C118487528 @default.
- W3123943103 hasConceptScore W3123943103C133425853 @default.
- W3123943103 hasConceptScore W3123943103C139719470 @default.
- W3123943103 hasConceptScore W3123943103C144237770 @default.
- W3123943103 hasConceptScore W3123943103C162324750 @default.
- W3123943103 hasConceptScore W3123943103C165404738 @default.
- W3123943103 hasConceptScore W3123943103C175444787 @default.
- W3123943103 hasConceptScore W3123943103C204983608 @default.
- W3123943103 hasConceptScore W3123943103C2778146401 @default.
- W3123943103 hasConceptScore W3123943103C71924100 @default.
- W3123943103 hasConceptScore W3123943103C98306058 @default.
- W3123943103 hasIssue "1" @default.
- W3123943103 hasLocation W31239431031 @default.
- W3123943103 hasLocation W31239431032 @default.
- W3123943103 hasLocation W31239431033 @default.
- W3123943103 hasLocation W31239431034 @default.
- W3123943103 hasOpenAccess W3123943103 @default.
- W3123943103 hasPrimaryLocation W31239431031 @default.
- W3123943103 hasRelatedWork W1555143848 @default.
- W3123943103 hasRelatedWork W2017522221 @default.
- W3123943103 hasRelatedWork W2079816579 @default.
- W3123943103 hasRelatedWork W2095851814 @default.
- W3123943103 hasRelatedWork W2171196139 @default.
- W3123943103 hasRelatedWork W2320736592 @default.
- W3123943103 hasRelatedWork W3123894958 @default.
- W3123943103 hasRelatedWork W3123943103 @default.
- W3123943103 hasRelatedWork W3125584065 @default.
- W3123943103 hasRelatedWork W3140708261 @default.
- W3123943103 hasVolume "3" @default.
- W3123943103 isParatext "false" @default.
- W3123943103 isRetracted "false" @default.
- W3123943103 magId "3123943103" @default.
- W3123943103 workType "article" @default.