Using mathematical models in a disequilibrium economy with offsetting demand
| Autor: | M. L. Lapshina, O. O. Lukina, D. D. Lapshin |
|---|---|
| Rok vydání: | 2020 |
| Předmět: |
Government spending
050208 finance General equilibrium theory media_common.quotation_subject 05 social sciences Geography Planning and Development Measures of national income and output Rationing TP368-456 Management Monitoring Policy and Law Discretion Food processing and manufacture Scarcity Microeconomics Order (business) 0502 economics and business Economics product industry parameters function balance balance 050212 sport leisure & tourism Budget constraint media_common |
| Zdroj: | Vestnik Voronežskogo Gosudarstvennogo Universiteta Inženernyh Tehnologij, Vol 82, Iss 1, Pp 369-379 (2020) |
| ISSN: | 2310-1202 2226-910X |
| Popis: | When modeling a nonequilibrium economy, the behavior of participants is described by the same optimization problems, including the criterion and internal technological and budgetary constraints, as in the theory of Walrasian equilibrium. They are only supplemented by external restrictions on the purchase (or sale) of scarce (slow-moving) products. Various principles are known for establishing these boundaries. They can be fixed (a rigid scheme of rationing) and not depend directly on the decisions of the participant, or be determined by the demand expressed by them (flexible scheme). The presented demand for rationable products, as a rule, does not coincide with the Walrasian one. We will call it an order. In well-known models, the order is considered equal to active demand. The concept of active demand has been successfully used in price control models. However, it is not the object of the choice of participants aimed at optimizing their criteria. Meanwhile, it seems natural that manufacturers and consumers, seeking to maximize utility, are free to choose order sizes at their own discretion. Modeling of the situation arising with this approach is the goal of the present work and is based on a modification of the rationing scheme proposed by J.P. Benassi The work also considers equilibrium models at fixed prices, in which participants, when forming demand, take into account the scarcity of products and the level of satisfaction of orders. Models are used to assess the impact of taxes, government spending, and other macro-regulators on employment and national income. The paper provides an overview of literary sources in the subject area, as well as an economic interpretation of the results. |
| Databáze: | OpenAIRE |
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