A test of market clearing

Research output: Contribution to journalArticlepeer-review


This paper derives a simple Lagrange Multiplier test of whether market clearing is an acceptable assumption. The market clearing model is embedded within the disequilibrium model of Nickel (1984) and the restrictions necessary for market clearing to hold are tested.

Original languageEnglish
Pages (from-to)105-108
Number of pages4
JournalEconomics Letters
Issue number2
Publication statusPublished - 1 Jan 1985

ASJC Scopus subject areas

  • Economics and Econometrics
  • Finance


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