Dynamic General Equilibrium Models With Imperfectly Competitive Product Markets

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Dynamic General Equilibrium Models with Imperfectly Competitive Product Markets

Author : Julio Rotemberg
Publisher :
ISBN 13 :
Total Pages : 82 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Dynamic General Equilibrium Models with Imperfectly Competitive Product Markets by : Julio Rotemberg

Download or read book Dynamic General Equilibrium Models with Imperfectly Competitive Product Markets written by Julio Rotemberg and published by . This book was released on 1993 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the consequences of introducing imperfectly competitive product markets into an otherwise standard neoclassical growth model. We pay particular attention to the consequences of imperfect competition for the explanation of fluctuations in aggregate economic activity. Market structures considered include monopolistic competition, the 'customer market' model of Phelps and Winter, and the implicit collusion model of Rotemberg and Saloner. Empirical evidence relevant to the numerical calibration of imperfectly competitive models is reviewed. The paper then analyzes the effects of imperfect competition upon the economy's response to several kinds of real shocks, including technology shocks, shocks to the level of government purchases, and shocks that change individual producers' degree of market power. It also discusses the role of imperfect competition in allowing for fluctuations due solely to self-fulfilling expectations.

Dynamic General Equilibrium Models With Imperfectly Competitive Product Markets

Author : Julio Rotemberg
Publisher : Forgotten Books
ISBN 13 : 9781330418796
Total Pages : 70 pages
Book Rating : 4.4/5 (187 download)

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Book Synopsis Dynamic General Equilibrium Models With Imperfectly Competitive Product Markets by : Julio Rotemberg

Download or read book Dynamic General Equilibrium Models With Imperfectly Competitive Product Markets written by Julio Rotemberg and published by Forgotten Books. This book was released on 2015-07-23 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Dynamic General Equilibrium Models With Imperfectly Competitive Product Markets This paper discusses the consequences of introducing imperfectly competitive product into an otherwise standard neoclassical growth model. We pay particular attention to the consequences of imperfect competition for the explanation of fluctuations in aggregate economic activity. Market structures considered include monopolistic competition, the "customer market" model of Phelps and Winter, and the implicit collusion model of Rotemberg and Saloner. Empirical evidence relevant to the numerical calibration on imperfectly competitive models is reviewed. The paper then analyzes the effects of imperfect competition upon the economy's response to several kinds of real shocks, including technology shocks, shocks to the level of government purchases, and shocks that change individual producers' degree of market power. It also discusses the role of imperfect competition in allowing for fluctuations due solely to self-fulfilling expectations. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Dynamic General Equilibrium Models With Imperfectly Competitive Product Markets (Classic Reprint)

Author : Julio Rotemberg
Publisher : Forgotten Books
ISBN 13 : 9780428214364
Total Pages : 70 pages
Book Rating : 4.2/5 (143 download)

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Book Synopsis Dynamic General Equilibrium Models With Imperfectly Competitive Product Markets (Classic Reprint) by : Julio Rotemberg

Download or read book Dynamic General Equilibrium Models With Imperfectly Competitive Product Markets (Classic Reprint) written by Julio Rotemberg and published by Forgotten Books. This book was released on 2018-01-02 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Dynamic General Equilibrium Models With Imperfectly Competitive Product Markets This paper discusses the consequences of introducing imperfectly competitive product into an otherwise standard neoclassical growth model. We pay particular attention to the consequences of imperfect competition for the explanation of fluctuations in aggregate economic activity. Market structures considered include monopolistic competition, the "customer market" model of Phelps and Winter, and the implicit collusion model of Rotemberg and Saloner. Empirical evidence relevant to the numerical calibration on imperfectly competitive models is reviewed. The paper then analyzes the effects of imperfect competition upon the economy's response to several kinds of real shocks, including technology shocks, shocks to the level of government purchases, and shocks that change individual producers' degree of market power. It also discusses the role of imperfect competition in allowing for fluctuations due solely to self-fulfilling expectations. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

The Macroeconomics of Imperfect Competition and Nonclearing Markets

Author : Jean-Pascal Benassy
Publisher : MIT Press
ISBN 13 : 9780262261739
Total Pages : 296 pages
Book Rating : 4.2/5 (617 download)

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Book Synopsis The Macroeconomics of Imperfect Competition and Nonclearing Markets by : Jean-Pascal Benassy

Download or read book The Macroeconomics of Imperfect Competition and Nonclearing Markets written by Jean-Pascal Benassy and published by MIT Press. This book was released on 2005-01-14 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, Jean-Pascal Benassy attempts to integrate into a single unified framework dynamic macroeconomic models reflecting such diverse lines of thought as general equilibrium theory, imperfect competition, Keynesian theory, and rational expectations. He begins with a simple microeconomic synthesis of imperfect competition and nonclearing markets in general equilibrium under rational expectations. He then applies this framework to a large number of dynamic macroeconomic models, covering such topics as persistent unemployment, endogenous growth, and optimal fiscal-monetary policies. The macroeconomic methodology he uses is similar in spirit to that of the popular real business cycles theory, but the scope is much wider. All of the models are solved "by hand," making the underlying economic mechanisms particularly clear.

The macroeconomics of imperfect competition and nonclearing markets

Author : J.P. Bénassy
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (987 download)

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Book Synopsis The macroeconomics of imperfect competition and nonclearing markets by : J.P. Bénassy

Download or read book The macroeconomics of imperfect competition and nonclearing markets written by J.P. Bénassy and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Frontiers of Business Cycle Research

Author : Thomas F. Cooley
Publisher : Princeton University Press
ISBN 13 : 0691218056
Total Pages : 442 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis Frontiers of Business Cycle Research by : Thomas F. Cooley

Download or read book Frontiers of Business Cycle Research written by Thomas F. Cooley and published by Princeton University Press. This book was released on 2020-09-01 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt: Among the most revolutionary and productive areas of economic research over the last two decades, modern business cycle theory is finally made accessible to students and professionals in this rigorous, unified, introductory volume. This theory starts with the view that growth and fluctuations are not distinct phenomena to be studied separately--and that business cycles result from shocks (such as the availability of new technologies), which regularly affect most economies. The unifying theme of this book is the use of the neoclassical growth framework to study the economic fluctuations associated with the business cycle. Presenting recent advances in dynamic economic theory and computational methods--with emphasis on the construction of equilibrium paths for simple artificial economies--leading experts orient readers in the quantitative study of aggregate fluctuations and apply its concepts to key issues in macroeconomics and business cycle theory. This volume covers such issues as the aggregate labor market, the role of the household sector, the role of money, the behavior of asset markets, non-Walrasian economies, monopolistically competitive economies, international business cycles, and the design of economic policies. The contributors are David Backus, V. V. Chari, Lawrence Christiano, Thomas F. Cooley, Jean-Pierre Danthine, John Donaldson, Jeremy Greenwood, Gary D. Hansen, Patrick Kehoe, Finn Kydland, Edward C. Prescott, Richard Rogerson, Julio Rotemberg, Geert Rouwenhorst, José-Víctor Ríos-Rull, Michael Woodford, and Randall Wright.

The Macroeconomics of Imperfect Competition and Nonclearing Markets

Author : Jean-Pascal Bénassy
Publisher : Mit Press
ISBN 13 : 9780262025287
Total Pages : 272 pages
Book Rating : 4.0/5 (252 download)

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Book Synopsis The Macroeconomics of Imperfect Competition and Nonclearing Markets by : Jean-Pascal Bénassy

Download or read book The Macroeconomics of Imperfect Competition and Nonclearing Markets written by Jean-Pascal Bénassy and published by Mit Press. This book was released on 2002 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: A single unified framework that integrates dynamic macroeconomics models on general equilibrium theory, imperfect competition, nonclearing markets, and rational expectations.

Imperfect Competition, Nonclearing Markets and Business Cycles

Author : Jean-Pascal Bénassy
Publisher : Edward Elgar Publishing
ISBN 13 : 9781843760030
Total Pages : 0 pages
Book Rating : 4.7/5 (6 download)

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Book Synopsis Imperfect Competition, Nonclearing Markets and Business Cycles by : Jean-Pascal Bénassy

Download or read book Imperfect Competition, Nonclearing Markets and Business Cycles written by Jean-Pascal Bénassy and published by Edward Elgar Publishing. This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The field of dynamic stochastic general equilibrium models has emerged as the central field of macroeconomics. This volume gives an account of the field, starting with the various general equilibrium traditions that ultimately led to this research area, and then describing the evolution of the models.

General Equilibrium Analysis

Author : Pascal Bridel
Publisher : Routledge
ISBN 13 : 1136719822
Total Pages : 169 pages
Book Rating : 4.1/5 (367 download)

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Book Synopsis General Equilibrium Analysis by : Pascal Bridel

Download or read book General Equilibrium Analysis written by Pascal Bridel and published by Routledge. This book was released on 2013-03-01 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: 2010 marks the hundredth anniversary of the death of Léon Walras, the brilliant originator and first formaliser of general equilibrium theory – one of the pillars of modern economic theory. In advancing much derided practical solutions Walras also displayed more concern for the problems of living in a second best world than is common in modern pure theories of the invisible hand, efficient market hypothesis, DSGE macroeconomics or the thinking of some contemporary free market admirers all based on general equilibrium theory. This book brings contributions from the likes of Kenneth Arrow, Alan Kirman, Richard Posner, Amartya Sen and Robert Solow to share their thoughts and reflections on the theoretical heritage of Léon Walras. Some authors reminisce on the part they played in the development of modern general economics theory; others reflect on the crucial part played by general equilibrium in the development of macroeconomics, microeconomics, growth theory, welfare economics and the theory of justice; others still complain about the wrong path economic theory took under the influence of post 1945 developments in general equilibrium theory.

Dynamic General Equilibrium Modelling

Author : Burkhard Heer
Publisher : Springer Science & Business Media
ISBN 13 : 3540273123
Total Pages : 540 pages
Book Rating : 4.5/5 (42 download)

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Book Synopsis Dynamic General Equilibrium Modelling by : Burkhard Heer

Download or read book Dynamic General Equilibrium Modelling written by Burkhard Heer and published by Springer Science & Business Media. This book was released on 2005-12-05 with total page 540 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern business cycle theory and growth theory uses stochastic dynamic general equilibrium models. Many mathematical tools are needed to solve these models. The book presents various methods for computing the dynamics of general equilibrium models. In part I, the representative-agent stochastic growth model is solved with the help of value function iteration, linear and linear quadratic approximation methods, parameterised expectations and projection methods. In order to apply these methods, fundamentals from numerical analysis are reviewed in detail. Part II discusses methods for solving heterogeneous-agent economies. In such economies, the distribution of the individual state variables is endogenous. This part of the book also serves as an introduction to the modern theory of distribution economics. Applications include the dynamics of the income distribution over the business cycle or the overlapping-generations model. Through an accompanying home page to this book, computer codes to all applications can be downloaded.

General Equilibrium Models for Development Policy

Author : Kemal Dervis
Publisher : Cambridge University Press
ISBN 13 : 9780521270304
Total Pages : 548 pages
Book Rating : 4.2/5 (73 download)

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Book Synopsis General Equilibrium Models for Development Policy by : Kemal Dervis

Download or read book General Equilibrium Models for Development Policy written by Kemal Dervis and published by Cambridge University Press. This book was released on 1982-05-31 with total page 548 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The New Macroeconomics

Author : Huw David Dixon
Publisher : Cambridge University Press
ISBN 13 : 9780521479479
Total Pages : 408 pages
Book Rating : 4.4/5 (794 download)

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Book Synopsis The New Macroeconomics by : Huw David Dixon

Download or read book The New Macroeconomics written by Huw David Dixon and published by Cambridge University Press. This book was released on 1995-10-19 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brings together leading researchers from the USA and Europe to examine the literature on the new macroeconomics.

Frontiers of Business Cycle Research

Author : Thomas F. Cooley
Publisher : Princeton University Press
ISBN 13 : 9780691043234
Total Pages : 452 pages
Book Rating : 4.0/5 (432 download)

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Book Synopsis Frontiers of Business Cycle Research by : Thomas F. Cooley

Download or read book Frontiers of Business Cycle Research written by Thomas F. Cooley and published by Princeton University Press. This book was released on 1995-02-26 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: This introduction to modern business cycle theory uses a neoclassical growth framework to study the economic fluctuations associated with the business cycle. Presenting advances in dynamic economic theory and computational methods, it applies concepts to t

Stochastic Dynamic Macroeconomics

Author : Gang Gong
Publisher : Oxford University Press on Demand
ISBN 13 : 0195301625
Total Pages : 213 pages
Book Rating : 4.1/5 (953 download)

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Book Synopsis Stochastic Dynamic Macroeconomics by : Gang Gong

Download or read book Stochastic Dynamic Macroeconomics written by Gang Gong and published by Oxford University Press on Demand. This book was released on 2006-01-19 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a book on stochastic dynamic macroeconomics from a Keynesian perspective. It shows that including Keynesian features in intertemporal models considerably contributes to resolve major puzzles arising in the context of the Dynamic General Equilibrium (DGE) model. It also demonstrates that including microeconomic intertemporal behavior of economic agents in macroeconomics is not inconsistent with Keynesian economics.

Disequilibrium, Growth and Labor Market Dynamics

Author : Carl Chiarella
Publisher : Springer Science & Business Media
ISBN 13 : 9783540649090
Total Pages : 500 pages
Book Rating : 4.6/5 (49 download)

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Book Synopsis Disequilibrium, Growth and Labor Market Dynamics by : Carl Chiarella

Download or read book Disequilibrium, Growth and Labor Market Dynamics written by Carl Chiarella and published by Springer Science & Business Media. This book was released on 2000-03-16 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume is a review which presents both a basic science and clinical perspective on neuroprotective approaches to acute and chronic neurodegenerative conditions. Experts from both fields review current areas of neuroprotection. The book describes basic science discovery in stroke research and the application of such research within the pharmaceutical industry leading to the development of neuroprotective drugs.

Unemployment, Market Structure and Growth

Author : Rüdiger Wapler
Publisher : Springer Science & Business Media
ISBN 13 : 3642558933
Total Pages : 207 pages
Book Rating : 4.6/5 (425 download)

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Book Synopsis Unemployment, Market Structure and Growth by : Rüdiger Wapler

Download or read book Unemployment, Market Structure and Growth written by Rüdiger Wapler and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: In his Ph. D. thesis, Rudiger Wapler analyses the causes of the persistently high unemployment rates especially in continental Europe. Particular emphasis is placed on imperfect labour and product markets on the one hand, and on the numerous links between unemployment, innovations and growth on the other. Hence, Rudiger Wapler provides an important contribution towards a better understanding of both the development of labour markets as well as the dynamics of growth. To aid readers with only little prior knowledge of labour markets, the book presents the most common theories of unemployment: (1) trade-union models in which union bargaining power leads to wages above their market-clearing level, (2) efficiency-wage models in which employers voluntarily pay higher wages in order to motivate or discipline their workers or to reduce the job turnover rate, as well as (3) matching models in which unemployment is caused by the continuous turnover of jobs and workers. In addition, emphasis is placed on the fact that labour needs to be treated as heterogeneous, a fact often neg lected in the literature. Subsequently, these labour-market foundations are integrated with modern theories of innovations and growth, making the ap proach much more relevant and plausible. Without doubt, the generalisations of the models performed by Rudiger Wapler show that there are limits to such formal analysis. Due to the increasing number of interdependencies, it is doubtful whether even more complex models provide additional (usable) insights.

Business Cycles

Author : Sumru G. Altug
Publisher : World Scientific
ISBN 13 : 9812832785
Total Pages : 161 pages
Book Rating : 4.8/5 (128 download)

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Book Synopsis Business Cycles by : Sumru G. Altug

Download or read book Business Cycles written by Sumru G. Altug and published by World Scientific. This book was released on 2010 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title provides an overview of the modern theory and empirics of business cycles. The book examines the notion of a business cycle and discusses alternative approaches to modelling. It also discusses what lies ahead for modern business cycle theory.