The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Aggregate Demand and Supply Analysis

  • Hugh Rose
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_529

Abstract

Postulate an elementary period or instant, which may be arbitrarily short. There is a set of parameters given or determined at its outset. They change only from one instant to the next. Within an instant some markets are cleared. In this temporary equilibrium the economy moves from instant to instant in accordance with the laws governing the behaviour of the parameters.

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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Hugh Rose
    • 1
  1. 1.