This paper summarizes the structure of a a computable general equilibrium model which incorporates short-run disequilibrium mechanisms stemming from natural rigidities of the economic system. Illustrative simulations based on the Venezuelan economy are reported. The model seems a priori to offer a more satisfactory representation of the sequence of short-run effects leading to a structural modification of the economy after some exogenous shock. The...
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INFORMATION
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1983/01/01
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Article de revue
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REP286
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1
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1
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2010/07/01
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Short-run rigidities and long-run adjustments in a computable general equilibrium model of income distribution and development
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productive sector
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