1 citations · 2 across the 5 of their papers we have counts for
5 papers · 1 filter
General Equilibrium as a Topological Field Theory
Eric Kemp-Benedict
General equilibrium is the dominant theoretical framework for economic policy analysis at the level of the whole economy. In practice, general equilibrium treats economies as being…
Price and Quantity Trajectories: Second-order Dynamics
Eric Kemp-Benedict
In two previous papers the author developed a second-order price adjustment (tâtonnement) process. This paper extends the approach to include both quantity and price adjustments. W…
Second-order Price Dynamics: Approach to Equilibrium with Perpetual Arbitrage
Eric Kemp-Benedict
The notion that economies should normally be in equilibrium is by now well-established; equally well-established is that economies are almost never precisely in equilibrium. Using…
Confronting the Kaya Identity with Investment and Capital Stocks
Eric Kemp-Benedict
Scaling relations, such as the IPAT equation and the Kaya identity, are useful for quickly gauging the scale of economic, technological, and demographic changes required to reduce…
Second-Order, Dissipative Tâtonnement: Economic Interpretation and 2-Point Limit Cycles
Eric Kemp-Benedict
This paper proposes an alternative to the classical price-adjustment mechanism (called "tâtonnement" after Walras) that is second-order in time. The proposed mechanism, an analogue…