Title

Testable Restrictions on the Equilibrium Manifold

Document Type

Discussion Paper

Publication Date

8-1-1995

CFDP Number

1109

CFDP Pages

24

Abstract

We present a finite system of polynomial inequalities in unobservable variables and market data that observations on market prices, individual incomes and aggregate endowments must satisfy to be consistent with the equilibrium behavior of some pure trade economy. Quantifier elimination is used to derive testable propositions on finite data sets for the pure trade model.

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