Qualitative economic reasoning: a disequilibrium perspective

Extending a qualitative simulation of a market-based equilibrium model, this paper demonstrates the technical applicability of partial simulation from a more realistic disequilibrium viewpoint, where a market cannot be cleared promptly and it is subject to quantity constraints of spillover from other imbalanced markets. Some well-known observations of disequilibrium economics such as the effectiveness of policy change in relation with disequilibrium regime are proven to be correct in qualitative reasoning and simulation.