Exchange rate policies in a disequilibrium model for the Finnish economy
Aurikko, Esko (15.11.1982)
JulkaisusarjaKeskustelualoitteita. Discussion Papers
JulkaisijaBank of Finland
Julkaisun pysyvä osoite onhttps://urn.fi/URN:NBN:fi-fe2023071190521
Traditional Walrasian equilibrium models have recently been examined in the case when short run price and wage rigidities prevent instantaneous attainment of an equilibrium leading to temporary equilibrium with market clearance by quantity rather than price adjustments. Non-Walrasian models were first presented for a closed economy and Malinvaud and subsequently extended to an open economy framework.