Title

Minerals-Supply Security and Mineral-Use Efficiency: Some Observations from the 1970-2005 Interval

Document Type

Article

Publication Date

1-1-2016

Abstract

Under certain conditions on the excess demand function, it is shown that the set of equilibrium prices coincides with the set of maximizers of a potential function. Therefore, monotone comparative statics techniques can be employed to study how equilibrium prices change when there are shocks to the parameters of the model. As a by-product of our analysis, it turns out that the set of equilibrium prices is a convex lattice.

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