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Nonergodic Economic Growth
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Book Synopsis Nonergodic Economic Growth by : Steven N. Durlauf
Download or read book Nonergodic Economic Growth written by Steven N. Durlauf and published by . This book was released on 1991 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the role of complementarities and coordination failure in economic growth. We analyze the evolution composed of a countable set of infinitely-lived heterogenous industries. Individual industries exhibit nonconvexities in production and are linked across time through localized technological complementarities. Each industry employs one of two production techniques. One technique is more efficient in using capital than the other, but requires the payment of a fixed capital cost. Both techniques exhibit technological complementarities in the sense that the productivity of capital invested in a technique is a function of the technique choices made by various industries the previous period. These complementarities, when strong enough, interact with incompleteness of markets to produce multiple Pareto-rankable equilibria in ling run economic activity. The equilibria have a simple probabilistic structure that demonstrates how localized coordination failures can affect the aggregate equilibrium. The model is capable of generating interesting aggregate dynamics as coordination problems become the source of aggregate volatility. Modifications of the model illustrate how leading sectors can cause a takeoff into high growth.
Book Synopsis The Stages of Economic Growth by : W. W. Rostow
Download or read book The Stages of Economic Growth written by W. W. Rostow and published by Cambridge University Press. This book was released on 1991-02-22 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: This third edition of The Stages of Economic Growth, first published in 1991, has a new preface and appendix, Professor Rostow extends his analysis to include economic and political developments as well as the advances in theory concerning nonlinear and chaotic phenomena. For those coming to his work for the first time, the original text and the introductions and appendices from earlier editions are included. This volume will not only be of interest to those concerned with the theory of economic growth, but also to students of policy since the 1960s. In the text Professor Rostow gives an account of economic growth based on a dynamic theory of production and interpreted in terms of actual societies. Five basic stages of economic growth are distinguished with detailed discussions of each stage including illustrative examples. He also applies the concept of stages of growth to an examination of the problems of military aggression and the nuclear arms race. The final chapter includes a comparison of his non-communist manifesto with Marxist theory. Materials from the second edition include an appendix in which he responds to some of his critics.
Book Synopsis Handbook of Economic Growth by : Philippe Aghion
Download or read book Handbook of Economic Growth written by Philippe Aghion and published by Elsevier. This book was released on 2005-12-21 with total page 1139 pages. Available in PDF, EPUB and Kindle. Book excerpt: Featuring survey articles by leading economists working on growth theory, this two-volume set covers theories of economic growth, the empirics of economic growth, and growth policies and mechanisms. It also covers technology, trade and geography, and growth and socio-economic development.
Book Synopsis The Economics of Non-Convex Ecosystems by : Partha Dasgupta
Download or read book The Economics of Non-Convex Ecosystems written by Partha Dasgupta and published by Springer Science & Business Media. This book was released on 2006-04-11 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists often assume that ecosystem and population dynamics are subject to convex, even linear processes. But research by ecosystem and population ecologists suggests that such processes are very often non-convex, for example a possible flip of the Gulf Stream due to fresh water intrusion from melting glaciers. This has dramatic implications for environmental and resource economics, since mistakes in management could prove more costly than imagined.
Book Synopsis Economic Growth and Development by : Olivier La Grandville
Download or read book Economic Growth and Development written by Olivier La Grandville and published by Emerald Group Publishing. This book was released on 2011-12-12 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the very beginnings of economics as a science, which might be dated from Ibn Khaldun's "Introduction to History" (1377), the challenge of making societies escape from poverty and attain some degree of prosperity has always been, and can remain, a fundamental issue. This book presents research on each of these issues.
Book Synopsis Puzzles of Economic Growth by : Leszek Balcerowicz
Download or read book Puzzles of Economic Growth written by Leszek Balcerowicz and published by World Bank Publications. This book was released on 2014-12-03 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: By comparing countries like Venezuela and Chile, China and India, Dominican Republic and Haiti, and others, the book tries to answer the questions of which institutions and policies are crucial for stable long term economic growth.
Book Synopsis The Economy As an Evolving Complex System, III by : Lawrence E. Blume
Download or read book The Economy As an Evolving Complex System, III written by Lawrence E. Blume and published by Oxford University Press. This book was released on 2006 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Derived from the 2001 Santa Fe Institute Conference, "The Economy as an Evolving Complex System III" addresses a wide variety of issues in the fields of economics and complexity, accessing eclectic techniques from many disciplines, provided that they shed light on the economic problem. The subject, a perennial centerpiece of the SFI program of studies, has gained a wide range of followers for its methods of employing empirical evidence in the development of analytical economic theories.
Book Synopsis Cycles, Growth and Structural Change by : Lionello F Punzo
Download or read book Cycles, Growth and Structural Change written by Lionello F Punzo and published by Routledge. This book was released on 2003-09-02 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume gathers together key new contributions on the subject of the relationship, both empirical and theoretical, between economic oscillations, growth and structural change. Employing a sophisticated level of mathematical modelling, the collection contains articles from, amongst others, William Baumol, Katsuhito Iwai and William Brock.
Book Synopsis Human Capital and Economic Growth by : Andreas Savvides
Download or read book Human Capital and Economic Growth written by Andreas Savvides and published by Stanford University Press. This book was released on 2008-10-10 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an in-depth investigation of the link between human capital and economic growth. The authors take an innovative approach, examining the determinants of economic growth through a historical overview of the concept of human capital. The text fosters a deep understanding of the connection between human capital and economic growth through the exploration of different theoretical approaches, a review of the literature, and the application of nonlinear estimation techniques to a comprehensive data set. The authors discuss nonparametric econometric techniques and their application to estimating nonlinearities—which has emerged as one of the most salient features of empirical work in modeling the human capital-growth relationship, and the process of economic growth in general. By delving into the topic from theoretical and empirical standpoints, this book offers an insightful new view that will be extremely useful for scholars, students, and policy makers.
Book Synopsis The Economy As An Evolving Complex System II by : W. Brian Arthur
Download or read book The Economy As An Evolving Complex System II written by W. Brian Arthur and published by CRC Press. This book was released on 2018-05-04 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new view of the economy as an evolving, complex system has been pioneered at the Santa Fe Institute over the last ten years, This volume is a collection of articles that shape and define this view?a view of the economy as emerging from the interactions of individual agents whose behavior constantly evolves, whose strategies and actions are always adapting.The traditional framework in economics portrays activity within an equilibrium steady state. The interacting agents in the economy are typically homogenous, solve well-defined problems using perfect rationality, and act within given legal and social structures. The complexity approach, by contrast, sees economic activity as continually changing?continually in process. The interacting agents are typically heterogeneous, they must cognitively interpret the problems they face, and together they create the structures?markets, legal and social institutions, price patters, expectations?to which they individually react. Such structures may never settle down. Agents may forever adapt and explore and evolve their behaviors within structures that continually emerge and change and disappear?structures these behaviors co-create. This complexity approach does not replace the equilibrium one?it complements it.The papers here collected originated at a recent conference at the Santa Fe Institute, which was called to follow up the well-known 1987 SFI conference organized by Philip Anderson, Kenneth Arrow, and David Pines. They survey the new study of complexity and the economy. They apply this approach to real economic problems and they show the extent to which the initial vision of the 1987 conference has come to fruition.
Book Synopsis The Economics of Networks by : Patrick Cohendet
Download or read book The Economics of Networks written by Patrick Cohendet and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic concept of networks refers to the structure of agents' interaction as well as to the economic property of positive externalities. This book describes the economics of networks from various perspectives among which are classical approaches, methods derived from physics, theory of evolutionary games, and experimental economics. These different views shed a new light on the behaviour and interaction of economic agents, on networks and on related phenomena: e.g., emergence of stable macro structures from micro interactions, standardisation, diffusion, preservation of diversity, role of heterogeneity, local learning, surplus creation and surplus allocation. The book presents the state of the art and offers a unique opportunity to understand specific networks phenomena through different theoretical and experimental approaches.
Book Synopsis Methods in Social Epidemiology by : J. Michael Oakes
Download or read book Methods in Social Epidemiology written by J. Michael Oakes and published by John Wiley & Sons. This book was released on 2006-05-11 with total page 507 pages. Available in PDF, EPUB and Kindle. Book excerpt: Social epidemiology is the study of how social interactions—social norms, laws, institutions, conventia, social conditions and behavior—affect the health of populations. This practical, comprehensive introduction to methods in social epidemiology is written by experts in the field. It is perfectly timed for the growth in interest among those in public health, community health, preventive medicine, sociology, political science, social work, and other areas of social research. Topics covered are: Introduction: Advancing Methods in Social Epidemiology The History of Methods of Social Epidemilogy to 1965 Indicators of Socioeconomic Position Measuring and Analyzing 'Race' Racism and Racial Discrimination Measuring Poverty Measuring Health Inequalities A Conceptual Framework for Measuring Segregation and its Association with Population Outcomes Measures of Residential Community Contexts Using Census Data to Approximate Neighborhood Effects Community-based Participatory Research: Rationale and Relevance for Social Epidemiology Network Methods in Social Epidemiology Identifying Social Interactions: A Review, Multilevel Studies Experimental Social Epidemiology: Controlled Community Trials Propensity Score Matching Methods for Social Epidemiology Natural Experiments and Instrumental Variable Analyses in Social Epidemiology and Using Causal Diagrams to Understand Common Problems in Social Epidemiology. "Publication of this highly informative textbook clearly reflects the coming of age of many social epidemiology methods, the importance of which rests on their potential contribution to significantly improving the effectiveness of the population-based approach to prevention. This book should be of great interest not only to more advanced epidemiology students but also to epidemiologists in general, particularly those concerned with health policy and the translation of epidemiologic findings into public health practice. The cause of achieving a ‘more complete’ epidemiology envisaged by the editors has been significantly advanced by this excellent textbook." —Moyses Szklo, professor of epidemiology and editor-in-chief, American Journal of Epidemiology, Johns Hopkins University "Social epidemiology is a comparatively new field of inquiry that seeks to describe and explain the social and geographic distribution of health and of the determinants of health. This book considers the major methodological challenges facing this important field. Its chapters, written by experts in a variety of disciplines, are most often authoritative, typically provocative, and often debatable, but always worth reading." —Stephen W. Raudenbush, Lewis-Sebring Distinguished Service Professor, Department of Sociology, University of Chicago "The roadmap for a new generation of social epidemiologists. The publication of this treatise is a significant event in the history of the discipline." —Ichiro Kawachi, professor of social epidemiology, Department of Society, Human Development, and Health, Harvard University "Methods in Social Epidemiology not only illuminates the difficult questions that future generations of social epidemiologists must ask, it also identifies the paths they must boldly travel in the pursuit of answers, if this exciting interdisciplinary science is to realize its full potential. This beautifully edited volume appears at just the right moment to exert a profound influence on the field." —Sherman A. James, Susan B. King Professor of Public Policy Studies, professor of Community and Family Medicine, professor of African-American Studies, Duke University
Book Synopsis Economic Dynamics, second edition by : John Stachurski
Download or read book Economic Dynamics, second edition written by John Stachurski and published by MIT Press. This book was released on 2022-08-16 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second edition of a rigorous and example-driven introduction to topics in economic dynamics that emphasizes techniques for modeling dynamic systems. This text provides an introduction to the modern theory of economic dynamics, with emphasis on mathematical and computational techniques for modeling dynamic systems. Written to be both rigorous and engaging, the book shows how sound understanding of the underlying theory leads to effective algorithms for solving real-world problems. The material makes extensive use of programming examples to illustrate ideas, bringing to life the abstract concepts in the text. Key topics include algorithms and scientific computing, simulation, Markov models, and dynamic programming. Part I introduces fundamentals and part II covers more advanced material. This second edition has been thoroughly updated, drawing on recent research in the field. New for the second edition: “Programming-language agnostic” presentation using pseudocode. New chapter 1 covering conceptual issues concerning Markov chains such as ergodicity and stability. New focus in chapter 2 on algorithms and techniques for program design and high-performance computing. New focus on household problems rather than optimal growth in material on dynamic programming. Solutions to many exercises, code, and other resources available on a supplementary website.
Book Synopsis Handbook of Computational Economics by : Leigh Tesfatsion
Download or read book Handbook of Computational Economics written by Leigh Tesfatsion and published by Elsevier. This book was released on 2006-05-15 with total page 905 pages. Available in PDF, EPUB and Kindle. Book excerpt: The explosive growth in computational power over the past several decades offers new tools and opportunities for economists. This handbook volume surveys recent research on Agent-based Computational Economics (ACE), the computational study of economic processes modeled as dynamic systems of interacting agents. Empirical referents for "agents" in ACE models can range from individuals or social groups with learning capabilities to physical world features with no cognitive function. Topics covered include: learning; empirical validation; network economics; social dynamics; financial markets; innovation and technological change; organizations; market design; automated markets and trading agents; political economy; social-ecological systems; computational laboratory development; and general methodological issues. *Every volume contains contributions from leading researchers *Each Handbook presents an accurate, self-contained survey of a particular topic *The series provides comprehensive and accessible surveys
Download or read book Handbook of Social Economics written by and published by Elsevier. This book was released on 2010-11-26 with total page 939 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can economists define social preferences and interactions? Culture, familial beliefs, religion, and other sources contain the origins of social preferences. Those preferences--the desire for social status, for instance, or the disinclination to receive financial support--often accompany predictable economic outcomes. Through the use of new economic data and tools, our contributors survey an array of social interactions and decisions that typify homo economicus. Their work brings order to the sometimes conflicting claims that countries, environments, beliefs, and other influences make on our economic decisions. Describes recent scholarship on social choice and introduces new evidence about social preferences Advances our understanding about quantifying social interactions and the effects of culture Summarizes research on theoretical and applied economic analyses of social preferences
Book Synopsis From Catastrophe to Chaos: A General Theory of Economic Discontinuities by : J. Barkley Rosser
Download or read book From Catastrophe to Chaos: A General Theory of Economic Discontinuities written by J. Barkley Rosser and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: From Catastrophe to Chaos: A General Theory of Economic Discontinuities presents and unusual perspective on economics and economic analysis. Current economic theory largely depends upon assuming that the world is fundamentally continuous. However, an increasing amount of economic research has been done using approaches that allow for discontinuities such as catastrophe theory, chaos theory, synergetics, and fractal geometry. The spread of such approaches across a variety of disciplines of thought has constituted a virtual intellectual revolution in recent years. This book reviews the applications of these approaches in various subdisciplines of economics and draws upon past economic thinkers to develop an integrated view of economics as a whole from the perspective of inherent discontinuity.
Book Synopsis Handbook of Social Economics SET: 1A, 1B by : Jess Benhabib
Download or read book Handbook of Social Economics SET: 1A, 1B written by Jess Benhabib and published by Newnes. This book was released on 2011 with total page 1509 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can economists define and measure social preferences and interactions? Through the use of new economic data and tools, our contributors survey an array of social interactions and decisions that typify homo economicus. Identifying economic strains in activities such as learning, group formation, discrimination, and the creation of peer dynamics, they demonstrate how they tease out social preferences from the influences of culture, familial beliefs, religion, and other forces. Advances our understanding about quantifying social interactions and the effects of culture Summarizes research on theoretical and applied economic analyses of social preferences Explores the recent willingness among economists to consider new arguments in the utility function
