A TEST OF A DISEQUILIBRIUM MODEL Academic Article uri icon


  • It is shown that an equilibrium model can be written as a nested hypothesis of a disequilibrium model in the sense that the former restricts parameter variations over time. It is then suggested to use the stability tests proposed in the literature for the test of a disequilibrium hypothesis. Fair's (1972) monthly housing market model is used for an empirical illustration, and a sampling experiment is also conducted. 1980.

published proceedings


author list (cited authors)

  • HWANG, H.

citation count

  • 12

complete list of authors

  • HWANG, H

publication date

  • January 1980