Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Learning And Leverage Dynamics In General Equilibrium
Download Learning And Leverage Dynamics In General Equilibrium full books in PDF, epub, and Kindle. Read online Learning And Leverage Dynamics In General Equilibrium ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis Learning and Leverage Dynamics in General Equilibrium by : Boris Radnaev
Download or read book Learning and Leverage Dynamics in General Equilibrium written by Boris Radnaev and published by . This book was released on 2015 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops and empirically tests a general equilibrium model of asset pricing, financing and investment dynamics in a trade-off economy where heterogeneous firms face unobservable "disaster" risk exposure and engage in rational Bayesian updating. The model sheds light on recent leverage cycles. During periods absent disasters [e.g. "The Great Moderation"]: equity premia decrease; credit spreads decrease; expected loss given default increases; and leverage ratios increase, especially amongst firms with high bankruptcy costs. Time since prior disasters is the key model conditioning variable. In response to a disaster, risk premia increase while firms reduce labor, capital and leverage, with response size increasing in time since prior disasters. Disaster responses are more pronounced than in an otherwise equivalent economy featuring observed disaster risk. Further, business cycles are more pronounced than in an otherwise equivalent economy with frictionless financing. Empirical tests of novel model predictions are conducted. Consistent with simulated model regressions, in the real-world data leverage and investment are increasing in time-since-prior-recessions, with the effect more pronounced for firms with low recovery ratios.
Book Synopsis Equilibrium Models in Economics by : Lawrence A. Boland
Download or read book Equilibrium Models in Economics written by Lawrence A. Boland and published by Oxford University Press. This book was released on 2017 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose and problems for equilibrium models -- Equilibrium models and explanation -- Equilibrium attainment vs. equilibrium necessities -- Does general equilibrium attainment imply universal maximization? -- Time and knowledge matters : general equilibrium attainment -- Equilibrium concepts and critiques : two cultures -- The limits of equilibrium models -- Recognizing knowledge in equilibrium models -- Limits of equilibrium methodology an educational dialogue -- Equilibrium models vs. realistic understanding -- Macroeconomic equilibrium model building and the stability problem -- Equilibrium models intended to overcome limits -- Equilibrium models vs. evolutionary economic models -- Equilibrium models vs. complexity economics -- Building models of price dynamics -- Building models of non-clearing markets -- Building models of learning and the equilibrium process -- Bibliography -- Names index -- Subject index
Book Synopsis Differential Dynamics in General Equilibrium Theory by : Donald Keenan
Download or read book Differential Dynamics in General Equilibrium Theory written by Donald Keenan and published by . This book was released on 1981 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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. This book was released on 2009-09-02 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.
Book Synopsis Applied General Equilibrium by : Manuel Alejandro Cardenete
Download or read book Applied General Equilibrium written by Manuel Alejandro Cardenete and published by Springer. This book was released on 2017-08-02 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: This advanced textbook provides a straightforward but comprehensive introduction to applied general equilibrium modeling. General equilibrium is the backbone of modern economic analysis, which is why generation after generation of economics students have been introduced to it. As an analytical tool, general equilibrium can provide one of the most complete views of a given economy, as it incorporates all economic agents (households, firms, government and the foreign sector) in an integrated way that explicitly reveals the interplay of economic forces—supply and demand—and the balancing role of prices. Applied general equilibrium goes one step further in modeling, since it entails the integration of microeconomic theory, data handling and computing. This integration is essential for successful empirical modeling, but also involves various abilities that are not found in standard books. This book fills the gap, providing advanced students with the required tools, from the construction of consistent and applicable general equilibrium models to the interpretation of the results that ensue from the adoption of policies. This second edition expands the range of topics covered, including: indispensable general equilibrium theory, step-by-step model design, incremental model extensions, a wealth of sample computer code, procedures for constructing economic databases, database adjustments and database updating algorithms, numerical model calibration, policy strategies and their trade-offs and welfare effects, and a discussion of empirical policy examples.
Book Synopsis Introduction to the Use of General Equilibrium Analysis by : Richard R. Cornwall
Download or read book Introduction to the Use of General Equilibrium Analysis written by Richard R. Cornwall and published by North Holland. This book was released on 1983 with total page 818 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Notes and Problems in Applied General Equilibrium Economics by : K.R. Pearson
Download or read book Notes and Problems in Applied General Equilibrium Economics written by K.R. Pearson and published by Elsevier. This book was released on 2014-06-28 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: "General-equilibrium" refers to an analytical approach which looks at the economy as a complete system of inter-dependent components (industries, households, investors, governments, importers and exporters). "Applied" means that the primary interest is in systems that can be used to provide quantitative analysis of economic policy problems in particular countries. Reflecting the authors' belief in the models as vehicles for practical policy analysis, a considerable amount of material on data and solution techniques as well as on theoretical structures has been included. The sequence of chapters follows what is seen as the historical development of the subject. The book is directed at graduate students and professional economists who may have an interest in constructing or applying general equilibrium models. The exercises and readings in the book provide a comprehensive introduction to applied general equilibrium modeling. To enable the reader to acquire hands-on experience with computer implementations of the models which are described in the book, a companion set of diskettes is available.
Download or read book Dynamic General Equilibrium written by and published by . This book was released on 2009 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis General Equilibrium Analysis by : E. Roy Weintraub
Download or read book General Equilibrium Analysis written by E. Roy Weintraub and published by University of Michigan Press. This book was released on 1993 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: A profound, innovative, and lively exploration of the nature of the theory at the very center of economics
Book Synopsis General Equilibrium Theory by : Ross M. Starr
Download or read book General Equilibrium Theory written by Ross M. Starr and published by Cambridge University Press. This book was released on 2011-04-25 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: General Equilibrium Theory: An Introduction presents the mathematical economic theory of price determination and resource allocation from elementary to advanced levels, suitable for advanced undergraduates and graduate students of economics. This Arrow–Debreu model (known for two of its most prominent founders, both Nobel Laureates) is the basis of modern price theory and of a wide range of applications. The new edition updates discussion throughout and expands the number and variety of exercises. It offers a revised and extended treatment of core convergence, including the case of non-convex preferences, and introduces the investigation of approximate equilibrium with U-shaped curves and non-convex preferences.
Book Synopsis General Equilibrium by : W. D. A. Bryant
Download or read book General Equilibrium written by W. D. A. Bryant and published by World Scientific. This book was released on 2010 with total page 492 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book focuses on the foundations of general equilibrium theory, more specifically on the existence, uniqueness, stability, optimality and comparative static properties of equilibrium states. It also explores the question of the empirical relevance of equilibrium states. It highlights a series of 'relationship conditions' which are essential for the existence of equilibrium, but appear in optimality results." -- PUBLISHER WEBSITE.
Book Synopsis Advances in General Equilibrium Theory by : Donald Anthony Walker
Download or read book Advances in General Equilibrium Theory written by Donald Anthony Walker and published by Edward Elgar Publishing. This book was released on 1997 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: After discussing shortcomings in the work of some contemporary theorists, Walker (economics, Indiana U.) offers a new approach to the construction of general equilibrium models. He discusses the meaning of perfect competition and the features of markets that give rise to it, the differences between virtual models and those in which disequilibrium transactions and production occur, the implications of determinacy for modeling, and the dependence of general equilibrium on the path that is followed in disequilibrium. Annotation copyrighted by Book News, Inc., Portland, OR
Book Synopsis Financial Leverage Does Not Cause the Leverage Effect by : Abdullah C. Aydemir
Download or read book Financial Leverage Does Not Cause the Leverage Effect written by Abdullah C. Aydemir and published by . This book was released on 2006 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: We quantify the effect of financial leverage on stock return volatility in a dynamic general equilibrium economy with debt and equity claims. We study the effects of financial leverage on the market portfolio, and on a small firm with idiosyncratic and market risk. In an economy with both a constant interest rate and constant price of risk, financial leverage generates little variation in stock return volatility at the market level but significant variation at the individual firm level. In an economy with more realistic variation in interest rates and the price of risk, there is significant variation in stock return volatility at the market and firm level. In such an economy, financial leverage has little effect on the dynamics of stock return volatility at the market level. Financial leverage contributes more to the dynamics of stock return volatility for a small firm.
Book Synopsis General Equilibrium Analysis by : Monique Florenzano
Download or read book General Equilibrium Analysis written by Monique Florenzano and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: General Equilibrium Analysis is a systematic exposition of the Walrasian model of economic equilibrium with a finite number of agents, as formalized by Arrow, Debreu and McKenzie at the beginning of the fifties and since then extensively used, worked and studied. Existence and optimality of general equilibrium are developed repeatedly under different sets of hypothesis which define some general settings and delineate different approaches to the general equilibrium existence problem. The final chapter is devoted to the extension of the general equilibrium model to economies defined on an infinite dimensional commodity space. The objective of General Equilibrium Analysis is to give to each problem in each framework the most general solution, at least for the present state of art. The intended readers are graduate students, specialists and researchers in economics, especially in mathematical economics. The book is appropriate as a class text, or for self-study.
Author :Andrew J. Clarke Publisher :Library and Archives Canada = Bibliothèque et Archives Canada ISBN 13 :9780494044995 Total Pages :420 pages Book Rating :4.0/5 (449 download)
Book Synopsis Learning-by-doing in Dynamic General Equilibrium Models [microform]: Macroeconomic Implications and Estimates by : Andrew J. Clarke
Download or read book Learning-by-doing in Dynamic General Equilibrium Models [microform]: Macroeconomic Implications and Estimates written by Andrew J. Clarke and published by Library and Archives Canada = Bibliothèque et Archives Canada. This book was released on 2004 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: These macroeconomic effects arising from the accumulation of organizational capital rely critically upon the existence of a dynamic structure, at the plant level, associated with the accumulation of organizational capital. The results presented in this thesis suggest: that this dynamic structure will be empirically important for production units across a diverse range of (manufacturing) industries. Consequently, existing studies of learning-by-doing that aim to quantify the productivity of (accumulated) production experience without also considering the (endogenous) accumulation of this production experience are likely to be seriously flawed.
Book Synopsis General Equilibrium: Theory And Evidence by : William David Anthony Bryant
Download or read book General Equilibrium: Theory And Evidence written by William David Anthony Bryant and published by World Scientific. This book was released on 2009-10-07 with total page 492 pages. Available in PDF, EPUB and Kindle. Book excerpt: General Equilibrium Theory studies the properties and operation of free market economies. The field is a response to a series of questions originally outlined by Leon Walras about the operation of markets and posed by Frank Hahn in the following way: ‘Does the pursuit of private interest, through a system of interconnected deregulated markets, lead not to chaos but to coherence — and if so, how is that achieved?’ This is always an apt question, but particularly so given the ‘Global Financial Crisis’ that emerged from the operation of market economies in the Americas and Europe in mid to late 2008.The answer that General Equilibrium Theory provides to the Walras-Hahn question is that, under certain conditions coherence is possible, while under certain other conditions chaos, in various forms, is likely to prevail. The conditionality of either outcome is not always well understood — neither by proponents of, or antagonists to, the ‘free market position’. Consequently, this book attempts to show something of what General Equilibrium Theory has to say about the wisdom or otherwise of always relying on ‘market forces’ to manage complex socio-economic systems.
Book Synopsis General Equilibrium Analysis of Production and Increasing Returns by : Takashi Suzuki
Download or read book General Equilibrium Analysis of Production and Increasing Returns written by Takashi Suzuki and published by World Scientific. This book was released on 2009 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: A unique feature of the book compared to classical monographs on GE is its emphasis on the historical nature of the subject, and not only the mathematical nature. Students are expected to learn that those mathematically formidable techniques are indeed necessary for tackling many economic problems which have been significant not only in the mathematical or technical context, but also in the historical and traditional context.
![Download Learning-by-doing in Dynamic General Equilibrium Models [microform]: Macroeconomic Implications and Estimates PDF Online Free](https://books.google.com/books/content/images/frontcover/UyoMywAACAAJ?fife=w200-h370)
