General equilibrium

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A Proposal on Macro-prudential Regulation

This paper assesses the choice of different regulatory policy instruments for crisis management and prevention.

Testable Restrictions on the Equilibrium Manifold under Random Preferences

General equilibrium theory was criticized for its apparent irrefutability, as seemingly implied by the Sonnenschein-Mantel-Debreu theorem.  This view was challenged by Brown and Matzkin (1996), who showed the existence of testable restrictions on the equilibrium manifold. Brown and Matzkin,...