General disequilibrium
In macroeconomic theory, general disequilibrium is a situation in which some or all of the aggregated markets, such as the money market, the goods market, and the labor market, fail to clear because of price rigidities. In the 1960s and 1970s, economists such as Edmond Malinvaud, Robert Barro and Herschel Grossman, Axel Leijonhufvud, Robert Clower, and Jean-Pascal Benassy investigated how economic policy would impact an economy where prices did not adjust quickly to changes in supply and demand.