Discover how competitive equilibrium balances supply and demand in markets, maximizing economic efficiency for profit-driven producers and value-seeking consumers.

General equilibrium (GE) theory—long the domain of abstract economic models—has found unexpected relevance in today’s turbulent geopolitical and geofinancial landscape. Originally designed to model ...

There are a wide variety of theoretical general equilibrium models with incomplete security markets. In this paper we give a general recipe for using homotopy algorithm to compute equilibria in these ...

Our eLibrary offers over 25,000 IMF publications in multiple formats. In this paper, we investigate the mechanisms through which import tariffs impact the macroeconomy in two large scale workhorse ...

Discover the concept of underemployment equilibrium in economics, its effects on unemployment rates, and why it persists. Explore Keynesian insights into economic downturns.