Takashi Negishi, 1933-

Few economists have been as prolific and wide-ranging as Takashi Negishi. Part of the "Hicksian" generation of Neo-Walrasian general equilibrium theorists, Negishi rose to prominence (while still a graduate student!) during the early 1960s with his work on the Neo- Walrasian system. Negishi's signature has been his attempt to extend the multi-market Neo-Walrasian system in several directions to incorporate concerns such as imperfect comptetition, stability, money, trade and unemployment - and, as a consequence, helping to discover and delineate the limits of conventional theory.

Negishi's 1960 paper provided a novel method of proving existence of equilibrium via the Second Welfare Theorem which was to be employed with much fruition by later economists (esp. those working on infinite commodity worlds). His 1961 attempt at incorporating imperfect competition into G.E. was not as successful, but it clearly revealed the problems associated with non-convexities in a Walrasian system. His work on stability of a Walrasian equilibrium was just as prodigious: his 1958 article reduced the number of condititions for tatonnement stability to merely gross substitution, while his 1962 paper with Hahn, he introduced the "Hahn Process" of non-tatonnement stability. His 1962 survey article on stability is considered authoritative.

Major works of Takashi Negishi

• "A Note on the Stability of an Economy where All Goods are Gross Substitutes", 1958, Econometrica.
• "Welfare Economics and Existence of an Equilibrium for a Competitive Economy", 1960, Metroeconomica.
• "On the Formation of Prices", 1961, IER.
• "Monopolistic Competition and General Equilibrium", 1961, RES.
• "A Theorem on Non-Tatonnement Stability", with F.H.Hahn, 1962, Econometrica.
• "On the Successive Barter Process", 1962, ESQ.
• "Stability of a Competitive Economy: A survey article", 1962, Econometrica.
• "Entry and the Optimal Number of Firms", 1962, Metroeconomica.
• "On Social Welfare Function", 1963, QJE.
• "Conditions for Neutral Money", 1964, RES.
• "The Stability of Exchange and Adaptive Expectations", 1964, IER.
• "Stability and Rationality of Extrapolative Expectations", 1964, Econometrica.
• "Conditions for Neutral Money", 1964, RES.
• "Market-Clearing Processes in a Monetary Economy", 1965 in Hahn and Brechling, editors, Theory of Interest Rates.
• "Foreign Investment and the Long-Run National Advantage", 1965, ESQ.
• "Equilibrium and Efficiency in International Trade with Costs of Transportation", 1965, ESQ.
• "The Perceived Demand Curve in the Theory of Second Best", 1967, RES.
• "Approaches to the Analysis of Devaluation", 1968, IER.
• "Protection of the Infant Industry and Dynamic Internal Economies", Econ Record.
• "Marshallian External Economies and the Gains from Trade between Similar Countries", 1969, RES.
• "Domestic Distortions, Tariffs and the Theory of the Optimum Subsidy", with M.C. Kemp, 1969, JPE.
• "The Customs Union and the Theory of Second Best", 1969, IER.
• "Increasing Returns, Imperfect Competition and International Trade", 1969, ESQ.
• "Variable Returns to Scale, Commodity Taxes, Factor Market Distortions and their Implications for Trade Gains", with M.C.Kemp, 1970, Swedish JE.
• "Dynamics of Public Exenditure in a Two-Party System", 1971, ZfN.
• General Equilibrium Theory and International Trade, 1972.
• "Public Expenditure Determined by Voting with One's Feet and Fiscal Profitability", 1972, Swedish JE.
• "The Excess of Public Expenditures on Industries", 1973, JPubE.
• "Stability of Markets with Public Goods: A case of gross substitutability", 1973, in Horwich and Samuelson, editor, Trade Stability and Macroeconomics.
• "Involuntary Unemployment and Market Imperfection", 1974, ESQ.
• "Excess of Productive Public Expenditures", 1976, ZfN.
• "Macroeconomics", 1976, in Artis and Nobay, editors, Essays in Economic Analysis.
• "Money in Walrasian General Equilibrium Theory", 1977, Econ Appliquee.
• "Price Rigidity, Full Employment and Inflaiton: A general equilibrium analysis", 1977, Homage a Perroux.
• "Existence of an Under-Employment Equilibrium", 1977, in G. Schwodiauer, editor, Equilibrium and Disequilibrium in Economic Theory.
• "Foreign Exchange Gains in a Keynesian Model of International Trade", 1979, Economie Appliquee.
• Microeconomic Foundations of Keynesian Macroeconomics, 1979.
• "From Samuelson's Stability Analysis to Non-Walrasian Economics", 1982, in Feiwel, editor, Samuelson and Neoclassical Economics.
• Economic Theories in a Non-Walrasian Tradition, 1985.
• History of Economic Thought, 1989.

Resources on T. Negishi

• HET Pages: Local Multi-Market Stability, Non-Tatonnement Stability, Non-Convexities, Infinite-Dimensional Economies