scholarly journals Recover Dynamic Utility from Observable Process: Application to the Economic Equilibrium

2021 ◽  
Vol 12 (1) ◽  
pp. 189-225
Author(s):  
Nicole El Karoui ◽  
Mohamed Mrad
Keyword(s):  
Economic Equilibrium

scholarly journals The impact of credit rationing on farmer’s economic equilibrium

2009 ◽  
Vol 55 (No. 11) ◽  
pp. 541-549 ◽  
Author(s):  
L. Čechura
Keyword(s):  
Capital Accumulation ◽  
Control Variable ◽  
Credit Rationing ◽  
Adjustment Costs ◽  
Investment Model ◽  
Economic Equilibrium ◽  
Dynamic Investment ◽  
Dynamic Optimization Model ◽  
Investment Spending ◽  
The Impact

The paper deals with the theoretical analysis of the impact of credit rationing on farmer’s economic equilibrium. The analysis is carried out based on the derived dynamic optimization model, which is the dynamic investment model with adjustment costs. The credit rationing is introduced by imposing an upper limit on the control variable, which is in this case represented by the investment spending. Then, the optimal control is used to solve the optimization problem in the situation of both with and without credit constraints. Finally, the situations without and with credit rationing are compared. The results show that the occurrence of credit rationing or in general financial constraints significantly determines the capital accumulation and investment decisions of farmers and as a result their supply functions.

Cycles and Chaos in Economic Equilibrium

1993 ◽  
Vol 60 (2) ◽  
pp. 519
Author(s):  
Ted Jaditz ◽  
Jess Benhabib
Keyword(s):  
Economic Equilibrium
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