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Methods of Dynamic Economics$
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J. R. Hicks

Print publication date: 1987

Print ISBN-13: 9780198772873

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198772874.001.0001

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Stocks and Flows

Stocks and Flows

(p.89) 9 Stocks and Flows
Methods of Dynamic Economics

John Hicks

Oxford University Press

This chapter attempts to define the concept of stock equilibrium, which is a key point of the Fixprice theory. Stock equilibrium is an equilibrium at a point of time; in accounting terms, it is an equilibrium of the balance-sheet. Although that sounds simple, the balance-sheet of a business, even as it is in practice, is quite a peculiar construction. It is important to realize that its counterpart in economic theory is also a peculiar construction, in much the same way.

Keywords:   stock equilibrium, economic theory, Fixprice theory, balance-sheet

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