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In macroeconomic theory, general disequilibrium is a situation in which some or all of the aggregated markets, such as the money market, the goods market, and the labor market, fail to clear because of price rigidities. In the 1960s and 1970s, economists such as Edmond Malinvaud, Robert Barro and Herschel Grossman, Axel Leijonhufvud, Robert Clower,and investigated how economic policy would impact an economy where prices did not adjust quickly to changes in supply and demand. The most notable case occurs when some external factor causes high levels of unemployment in an economy, leading to households consuming less and firms providing less employment, leading to a rationing of both goods and work hours. Studies of general disequilibrium have been considered the "height of the neoclassical

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rdf:type	programming language
rdfs:label	General disequilibrium (en) Déséquilibre général (fr)
rdfs:comment	Le déséquilibre général est un concept d'économie qui désigne la possibilité pour tous les marchés d'être en situation de déséquilibre au même moment. La théorie du déséquilibre général est concurrente de celle de l'équilibre général, soutenu par les économistes de la nouvelle économie classique. Le déséquilibre général a été l'objet d'une théorie explicative appelée théorie du déséquilibre. (fr) In macroeconomic theory, general disequilibrium is a situation in which some or all of the aggregated markets, such as the money market, the goods market, and the labor market, fail to clear because of price rigidities. In the 1960s and 1970s, economists such as Edmond Malinvaud, Robert Barro and Herschel Grossman, Axel Leijonhufvud, Robert Clower,and investigated how economic policy would impact an economy where prices did not adjust quickly to changes in supply and demand. The most notable case occurs when some external factor causes high levels of unemployment in an economy, leading to households consuming less and firms providing less employment, leading to a rationing of both goods and work hours. Studies of general disequilibrium have been considered the "height of the neoclassical (en)
dcterms:subject	Keynesian economics General equilibrium theory
Wikipage page ID	29000202 (xsd:integer)
Wikipage revision ID	1092704791 (xsd:integer)
Link from a Wikipage to another Wikipage	Money market Keynesian Robert Barro Macroeconomic Axel Leijonhufvud Keynesian economics Edmond Malinvaud Disequilibrium (economics) Herschel Grossman General equilibrium theory Effective demand New Keynesian economics Neoclassical synthesis Excess supply Labor market Sticky prices Robert Clower dbr:Jean-Pascal_Benassy
sameAs	General disequilibrium General disequilibrium General disequilibrium General disequilibrium
dbp:wikiPageUsesTemplate	dbt:Citation_needed dbt:Reflist dbt:Short_description
has abstract	In macroeconomic theory, general disequilibrium is a situation in which some or all of the aggregated markets, such as the money market, the goods market, and the labor market, fail to clear because of price rigidities. In the 1960s and 1970s, economists such as Edmond Malinvaud, Robert Barro and Herschel Grossman, Axel Leijonhufvud, Robert Clower,and investigated how economic policy would impact an economy where prices did not adjust quickly to changes in supply and demand. The most notable case occurs when some external factor causes high levels of unemployment in an economy, leading to households consuming less and firms providing less employment, leading to a rationing of both goods and work hours. Studies of general disequilibrium have been considered the "height of the neoclassical synthesis" and an immediate precursor to the new Keynesian economics that followed the decline of the synthesis. Studies of general disequilibrium showed that the economy behaved differently depending on which markets (for example, the labor or the goods markets) were out of equilibrium. When both the goods and the labor market suffered from excess supply, the economy behaved according to Keynesian theory. (en) Le déséquilibre général est un concept d'économie qui désigne la possibilité pour tous les marchés d'être en situation de déséquilibre au même moment. La théorie du déséquilibre général est concurrente de celle de l'équilibre général, soutenu par les économistes de la nouvelle économie classique. Le déséquilibre général a été l'objet d'une théorie explicative appelée théorie du déséquilibre. (fr)
gold:hypernym	Situation
prov:wasDerivedFrom	wikipedia-en:General_disequilibrium?oldid=1092704791&ns=0
page length (characters) of wiki page	2124 (xsd:nonNegativeInteger)
foaf:isPrimaryTopicOf	wikipedia-en:General_disequilibrium
is Link from a Wikipage to another Wikipage of	History of macroeconomic thought Credibility thesis Roger Backhouse (economist) Disequilibrium macroeconomics Herschel Grossman Disequilibrium General disequilibrium models
is Wikipage redirect of	General disequilibrium models
is Wikipage disambiguates of	Disequilibrium
is foaf:primaryTopic of	wikipedia-en:General_disequilibrium

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