Abstract:
We combine general equilibrium theory and theorie generale of stochastic processes to derive structural results about equilibrium state prices.

Abstract:
In the article the author uses regression analysis to examine the impact of economic factors on residential housing prices in Russian central and regional housing markets. The author concludes that in economically developed regions of Russia household income level has the greatest impact on housing prices while in underdeveloped regions prices are determined by cost of construction.

Abstract:
Economic and financial networks play a crucial role in various important processes, including economic integration, globalization, and financial crises. Of particular interest is understanding whether the temporal evolution of a real economic network is in a (quasi-)stationary equilibrium, i.e. characterized by smooth structural changes rather than abrupt transitions. Smooth changes in quasi-equilibrium networks can be generally controlled for, and largely predicted, via an appropriate rescaling of structural quantities, while this is generally not possible for abrupt transitions in non-stationary networks. Here we study whether real economic networks are in or out of equilibrium by checking their consistency with quasi-equilibrium maximum-entropy ensembles of graphs. As illustrative examples, we consider the International Trade Network (ITN) and the Dutch Interbank Network (DIN). We show that, despite the globalization process, the ITN is an almost perfect example of quasi-equilibrium network, while the DIN is clearly an out-of-equilibrium network undergoing major structural changes and displaying non-stationary dynamics. Among the out-of-equilibrium properties of the DIN, we find striking early-warning signals of the interbank crisis of 2008.

Abstract:
The aim of the paper is to obtain the existence of equilibrium prices in economies where the excess demand correspondences—differently from the usual condition—are not necessarily upper semicontinuous. So, in our setting, we cannot use the Gale-Debreu-Nikaido Lemma. The existence of equilibrium prices is obtained for discontinuous excess demand correspondences which obey to a condition like of the weak axiom of reveled preferences.

Abstract:
Many economic theories indicate that house price changes should have real effect on the economy and vice versa. This study investigates the existence of causality among house prices, economic growth, and inflation in Iran using the Toda and Yamamoto approach during the period 1990:1–2008:3. The results show that there is evidence of a significant multidirectional link between house prices, and the macroeconomic factors. The causality tests confirm that GDP and CPI Granger cause house prices, and feedback effects are observed for house prices and GDP. This paper finds no evidence of Granger causality of real house price changes to CPI.

Abstract:
We consider a market model that consists of financial investors and producers of a commodity. Producers optionally store some production for future sale and go short on forward contracts to hedge their future commodity price uncertainty. On the other hand, speculators invest in these contracts to diversify their portfolios. The forward and the spot equilibrium commodity prices are endogenously derived as the outcome of the interaction between producers and speculators. Assuming that both are utility maximizers and that the demand shocks and the exogenously priced financial market are correlated, we provide semi-explicit expressions for the equilibrium prices and analyze their dependence on the model parameters. The model can explain why increased speculators' participation in forward commodity markets and higher correlation between the commodity and the stock market could result in higher spot prices and lower forward premia.

Abstract:
The first part of the paper presents some theoretical aspects related to general equilibrium models and the motivation of formulating the general equilibrium models as mixed complementary ones. Then we present a general equilibrium application using GAMS software (General Algebraic Modelling Systems). The application is a general equilibrium model for the Romanian energetic system, considered as a component of the national economy.

Abstract:
A model of the general economic equilibrium of sequential structures includes the asset market, where assets are instruments of sequential income redistribution. The model should explain relative prices of commodities, on one hand, and establish the asset pricing as an instrument of income redistribution, on the other, enabling the analysis of sequential income transfers. This paper mainly researches Pareto’s optimum of a defined mathematical model of the general economic equilibrium in both complete and incomplete asset markets. The existence of the latter partly disables an economic system to transfer income through time sequences properly, which results in equilibrium allocations not reaching Pareto’s optimum. .

Abstract:
Fondée en 1993 par le professeur Jacques Maurice sous le titre Regards sur le xxe siècle espagnol, afin de publier les interventions au séminaire sur l’histoire contemporaine de l’Université de Paris X-Nanterre, cette collection prétendait témoigner de l’élargissement de la recherche sur l’Espagne du xxe siècle. Ouverte aussi bien aux recherches sur la littérature, l’histoire ou l’image en développement durant les années 1990, elle a maintenu sous le titre Regards cette variété des sources de...

Abstract:
A general information equilibrium model in the case of ideal information transfer is defined and then used to derive the relationship between supply (information destination) and demand (information source) with the price as the detector of information exchange between demand and supply. We recover the properties of the traditional economic supply-demand diagram. Information equilibrium is then applied to macroeconomic problems, recovering some common macroeconomic models in particular limits like the AD-AS model, IS-LM model (in a low inflation limit), the quantity theory of money (in a high inflation limit) and the Solow-Swan growth model. Information equilibrium results in empirically accurate models of inflation and interest rates, and can be used to motivate a 'statistical economics', analogous to statistical mechanics for thermodynamics.