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The Equilibrium Manifold
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The Equilibrium Manifold: Postmodern Developments in the Theory of General Economic Equilibrium

Yves Balasko

Abstract

This book argues that, contrary to what many textbooks want readers to believe, the study of the general equilibrium model did not end with the existence and welfare theorems of the 1950s. These developments, which characterize the modern phase of the theory of general equilibrium, led to what this book calls the postmodern phase, marked by the reintroduction of differentiability assumptions and the application of the methods of differential topology to the study of the equilibrium equation. This study demonstrates the central role played by the equilibrium manifold in understanding the proper ... More

Keywords: general equilibrium model, welfare theorems, postmodern phase, differentiability assumptions, differential topology, equilibrium equation, equilibrium manifold, Arrow–Debreu model, business cycles, economic fluctuations

Bibliographic Information

Print publication date: 2009 Print ISBN-13: 9780262026543
Published to MIT Press Scholarship Online: August 2013 DOI:10.7551/mitpress/9780262026543.001.0001

Authors

Affiliations are at time of print publication.

Yves Balasko, author