Ambiguities in the Sign of Excess Effective Demand by Firms
证明在生产性经济中,给定Benassy固定价格配置,超额有效需求的符号可能存在模糊性,即不同符号的有效需求向量可能与同一配置相容。
Can we state that at a given Benassy Fixprice Allocation z* there is, say, excess effective demand for a commodity? It turns out that in productive economies there may be ambiguities in the sign of excess effective demand: different effective demand vectors with different signs, may be compatible with z*. We prove: (a) no ambiguity exists if intermediate goods are ruled out and if all firms in the long side of a market perceive binding constraints; (b) in any case one can always select a vector of effective demands yielding minimal sets of buyer's and seller's markets.