search query: @author Berthelemy, J-C. / total: 1
reference: 1 / 1
« previous | next »
| Author: | Berthelemy, J-C. |
| Title: | The transfer paradox in a non-Walrasian context |
| Journal: | Weltwirtschaftliches Archiv
1988 : VOL. 124:3, p. 420-434 |
| Index terms: | AID DISEQUILIBRIUM THEORY |
| Language: | eng |
| Abstract: | The transfer paradox is a situation when the transfer enriches the transferor and immiserises the transferee. It was previously demonstrated that in bilateral Walrasian economies with multiple equilibria or in multilateral Walrasian economies the transfer paradox may show up. The paper investigates a mixed (partly Walrasian and partly Keynesian) economy and finds that the transfer paradox cannot be excluded. This is a contraindication for Keynesian policies in developing countries. |
« previous | next »
SCIMA