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Growth, Trade, and Economic Institutions
This paper analyses and solves Walrasian general equilibrium systems of momentary and moving competitive market equilibria. The Walrasian framework encompasses the basic multi-sector growth (MSG) models with neoclassical production technologies in N sectors (industries). The endogenous behavior of all relative prices and the sectorial allocation of the two primary factors (labor and capital) are analyzed in detail. The dynamic systems of Walrasian multi-sector economies and their family ofdoi:10.1007/3-211-26650-x_2 fatcat:lz73fxn6cvaanb5mvcktcgnewe