An Empirical Disequilibrium Model of Labor, Consumption, and Investment
构建了一个包含劳动、消费品和投资品三个市场的美国宏观经济非均衡模型，利用微观理论推导供需，考虑调整成本和数量配给的跨市场溢出效应，实证检验发现瓦尔拉斯均衡不成立。
A macroeconomic disequilibrium model of the U.S. economy is constructed with three markets--one each for labor, consumption goods, and investment goods. Demand and supply in each market are obtained from underlying microeconomic theory, with adjustment costs and possible intermarket spillovers from quantity rationing taken into account. Indicators of excess demand for each market aid in estimation. No evidence is found for Walrasian market equilibrium. Copyright 1989 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.