General Equilibrium and Recession Phenomenon
Economics
2016-01-20 v1 Trading and Market Microstructure
Abstract
The theorems we proved describe the structure of economic equilibrium in the exchange economy model. We have studied the structure of property vectors under given structure of demand vectors at which given price vector is equilibrium one. On this ground, we describe the general structure of the equilibrium state and give characteristic of equilibrium state describing economic recession. The theory developed is applied to explain the state of the economy in some European countries.
Keywords
Cite
@article{arxiv.1601.04949,
title = {General Equilibrium and Recession Phenomenon},
author = {Nicholas S. Gonchar and Wolodymyr H. Kozyrski and Anatol S. Zhokhin},
journal= {arXiv preprint arXiv:1601.04949},
year = {2016}
}