ITIP

a competitive eqm is a set of allocations {c1, c2, L1, L2} and a set of prices {p1, p2, w} such that:

1. 1. taking prices as given , hh and firms are optimising

2. 2. all markets clear

• Ricardian model

  closed economy

• Ricardian model

  small open economy

• Ricardian model

a competitive eqm is a set of allocations {c1, c2, L1, L2} and a set of prices {w} such that:

1. 1. taking prices as given , hh and firms are optimising

2. 2. the labour market clears

3. 3. all goods produced by firms are sold

• Ricardian model

  closed economy

• Ricardian model

  small open economy

• Ricardian model

a competitive eqm is a set of allocations {c1, c2, L1, L2, c1*, c2*, L1*, L2*} and a set of prices {p1, p2, w, w*} such that:

1. 1. taking prices as given, hh and firms are optimising

2. 2. all markets clear

• Ricardian model

  closed economy

• Ricardian model

  small open economy

• Ricardian model

a competitive eqm is a set of allocations {c1, c2, L1, L2, K1, K2} and a set of prices {p1, p2, w, r} such that:

1. 1. taking prices as given, hh and firms are optimising

2. 2. markets clear

• Heckscher-Ohlin model

  closed economy

• Heckscher-Ohlin

  small open economy

• Ricardian model

• Ricardian model

  closed economy

a competitive eqm is a set of allocations {c1, c2, x1, x2 L1, L2, K1, K2} and prices {w, r} such that given world prices {p1, p2}:

1. 1. taking all prices as given, hh and firms are optimising

2. 2. markets clear

• Heckscher-Ohlin model

  closed economy

• Heckscher-Ohlin

  small open economy

• Ricardian model

• Ricardian model

  closed economy

a competitive eqm is a set of allocations {c1, c2, L1, L2, K1, K2} and prices {w, r1, r2} such that given endownments {L1, K1., K2.,} and goods prices {p1, p2}:

1. 1. taking all prices as given, hh and firms are optimising

2. 2. markets clear

• specific factors model

  small open economy

• Heckscher-Ohlin

  small open economy

• Ricardian model

• Ricardian model

  closed economy

a competitive eqm is a set of allocations {K1, K2, L1, L2} and prices {w, r1, r2} such that taking goods prices {p1, p2} and production prices as given:

1. 1. firms optimise

2. 2. markets for L, K1 and K2 clear

• specific factors model

  small open economy

• Heckscher-Ohlin

  small open economy

• specific factors model

  supply side

• Ricardian model

  closed economy

a competitive eqm is a set of allocations {cr1, cr2, cn1, cn2, ck1, x1, x2. lr, ln, kr, kn} and prices {wr, wn r} such that taking output prices {p1, p2} as given:

1. 1. individuals and firms are optimising

2. 2. all markets clear

• specific factors model

  small open economy

• Heckscher-Ohlin

  small open economy

• specific factors model

  with capitalists

• Ricardian model

  closed economy

domestic economy export good 1 and import good 2

• import c2' down

  export c1 right

• import c2' up

  export c1 left

• import c2 down

  export c1' right

• import c2 up

  export c1' left

domestic economy export good 2 and import good 1

• import c2' down

  export c1 right

• import c2' up

  export c1 left

• export c2' up

  c1 legt

• import c2 up

  export c1' left