Minerals-Supply Security and Mineral-Use Efficiency: Some Observations from the 1970-2005 Interval
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.
MSU Digital Commons Citation
Ruscitti, Francesco and Dubey, Ram, "Minerals-Supply Security and Mineral-Use Efficiency: Some Observations from the 1970-2005 Interval" (2016). Department of Economics Faculty Scholarship and Creative Works. 41.