General Equilibrium Theory and its Model Applications

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Authors

MUSIL Karel

Year of publication 2006
Type Article in Proceedings
Conference MendelNet 2006: sborník abstraktů z evropské vědecké konference doktorandů
MU Faculty or unit

Faculty of Economics and Administration

Citation
Field Economy
Keywords General equilibrium theory; history of general equilibrium theory; general equilibrium (GE) model; computable general equilibrium model; dynamic general equilibrium (DGE) model
Description The paper introduces a general equilibrium (GE) concept. It describes a historical development of the theory and fundamental differences between partial and general equilibrium. The basic approach to the GE is done by the Robinson Crusoe model and the Edgeworth box. The practical implication of GE theory is presented by several models (CGE model, MSG model, AGE model, DGE model and others).
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