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Author : Jess Benhabib
Publisher :
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (833 download)
Download or read book Stability of Equilibrium in Dynamic Models of Capital Theory written by Jess Benhabib and published by . This book was released on 1980 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : G Gandolfo
Publisher : Elsevier
ISBN 13 : 0444601228
Total Pages : 584 pages
Book Rating : 4.4/5 (446 download)
Download or read book Economic Dynamics: Methods and Models written by G Gandolfo and published by Elsevier. This book was released on 1971-01-01 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic Dynamics: Methods and Models aims to give a simple but comprehensive treatment of mathematical methods used in economic dynamics and show how they are utilized to build and to analyze dynamic models. The text also focuses on methods, and every mathematical technique introduced is followed by its application to selected models. The book is divided into three different parts. Part I: Different Equations discusses general principles; first-order, second-order, higher-order equations; simultaneous systems; and their economic applications. Part II: Differential Equations also discusses the same areas as those in Part I, but instead features differential equations, as what the section name suggests. Part III: More Advanced Material covers comparative statistics and the comparative principle; stability of equilibrium and Liapunov's second method; and linear mixed differential and difference equations, as well as its other related topics. The text is recommended for mathematicians and economists who have an idea on advanced mathematics and would like to know more about its applications in economics.
Author : Brian S. Ferguson
Publisher :
ISBN 13 :
Total Pages : 324 pages
Book Rating : 4.:/5 (321 download)
Download or read book Introduction to Dynamic Economic Models written by Brian S. Ferguson and published by . This book was released on 1998 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Unnecessary complexity has been avoided, yet the models have been presented in the same general form as they appear in the professional literature.
Author : Jan Tuinstra
Publisher : Springer Science & Business Media
ISBN 13 : 1461516617
Total Pages : 243 pages
Book Rating : 4.4/5 (615 download)
Download or read book Price Dynamics in Equilibrium Models written by Jan Tuinstra and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: A long-standing unsolved problem in economic theory is how economic equilibria are attained. Price Dynamics in Equilibrium Models: The Search for Equilibrium and the Emergence of Endogenous Fluctuations considers a number of adjustment processes in different economic models and investigates their dynamical behaviour. Two important themes arising in this context are `bounded rationality' and `nonlinear dynamics'. Important sub-themes of the book are the following: how do boundedly rational agents interact with their environment and does this interaction in some sense lead to rational outcomes (which may or may not correspond to equilibria)? The second sub-theme deals with the consequences of the nonlinear dynamical nature of many adjustment processes. The results presented in this volume indicate that endogenous fluctuations are the rule rather than the exception in the search for equilibrium. The book uses the theory of nonlinear dynamics to analyze the dynamics of the different economic models. Due to the complexity of most of the models, an important role is played by computational methods. In particular, at regular instances the models are analyzed by numerical simulations and some computer-assisted proofs are provided. It also covers a wide range of dynamical models from economic theory. Most of these models merge the theory of nonlinear economic dynamics with the theory of bounded rationality. The book is written for anyone with an interest in economic theory in general and bounded rationality and endogenous fluctuations in particular. It is entirely self-contained and accessible to readers with only a limited knowledge of economic theory.
Author : Pablo Coto-Millán
Publisher : Springer Science & Business Media
ISBN 13 : 3642500099
Total Pages : 174 pages
Book Rating : 4.6/5 (425 download)
Download or read book General Equilibrium and Welfare written by Pablo Coto-Millán and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book the reader is provided with an overview of the most interesting ideas in Competitive General Equilibrium Theory as well as Welfare Economy. In doing so, the author adopts a methodological approach of a closed and inter-related system where all variables are simultaneously determined. By using theorems of fixed point, revealed preference and local and global stability, the author proves the existence of unicity and stability. Furthermore, he analyses those situations where the competitive system does not allocate resources efficiently. In this sense, he examines allocation problems in regard to property rights, information problems and choice and negotiation problems. Finally, the text includes a chapter that presents a topical guide of questions related to Social Choice.
Author : S. Motamen-Samadian
Publisher : Springer
ISBN 13 : 0230599591
Total Pages : 150 pages
Book Rating : 4.2/5 (35 download)
Download or read book Dynamic Models and their Applications in Emerging Markets written by S. Motamen-Samadian and published by Springer. This book was released on 2005-06-03 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a collection of six studies on behaviour of financial and economic variables in emerging and Euro markets. It includes the latest empirical studies on 32 emerging economies. The studies cover examination of the behaviour of interest rates, banks' credit and default risks, sovereign bond markets, effectiveness of inflation targeting, and dynamics of external debt and growth. There is currently no single book that addresses all these issues. This is a valuable book for all those who are working on emerging markets.
Author : Åke E. Andersson
Publisher : Edward Elgar Publishing
ISBN 13 : 1783470887
Total Pages : 283 pages
Book Rating : 4.7/5 (834 download)
Download or read book Time, Space and Capital written by Åke E. Andersson and published by Edward Elgar Publishing. This book was released on 2017-07-28 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this challenging book, the authors demonstrate that economists tend to misunderstand capital. Frank Knight was an exception, as he argued that because all resources are more or less durable and have uncertain future uses they can consequently be classed as capital. Thus, capital rather than labor is the real source of creativity, innovation, and accumulation. But capital is also a phenomenon in time and in space. Offering a new and path-breaking theory, they show how durable capital with large spatial domains — infrastructural capital such as institutions, public knowledge, and networks — can help explain the long-term development of cities and nations.
Author : J. Barkley Rosser
Publisher : Springer Science & Business Media
ISBN 13 : 1461337968
Total Pages : 400 pages
Book Rating : 4.4/5 (613 download)
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 2013-12-01 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Now, however, weface an Age of Discontinuity in world economy and tech nology. We might succeed in making it an age of great economic growth as weil. But the one thing that is certain so far is that it will be a period of change-in technology and in economic policy, in industry structures and in economic theo ry, in the knowledge needed to govern and manage, and in economic issues. While we have been busy finishing the great nineteenth-century economic ed ijice, the foundations have shifted beneath our feet." Peter F. Drucker, 1968 The A~e Qf DiscQntinuity, p. 10 This project has had a lQng gestatiQn period, probably ultimately dating to a YQuthful QbsessiQn with watershed divides and bQundaries. My awareness Qf the problem Qf discQntinuity in eCQnQmics dates tQ my first enCQunter with the capi tal theQry paradQxes in the late 1960s, the fruits Qf which can be seen in Chapter 8 Qf this book. This awareness led tQ a frostratiQn Qver the apparent lack Qf a mathematics Qf discQntinuity, a lack that was in the process of rapidly being QverCQme at that time.
Author : Frank Hahn
Publisher : Routledge
ISBN 13 : 1134433611
Total Pages : 398 pages
Book Rating : 4.1/5 (344 download)
Download or read book General Equilibrium written by Frank Hahn and published by Routledge. This book was released on 2003-09-02 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years certain leading figures in the world of economics have called the usefulness of general equilibrium theory into question. This superb new book brings together leading economic theorists with important contributions to the ongoing debate. General equilibrium theorists including Michio Morishima, Michael Magill and Martine Quinzii debate strengths, weaknesses and possible futures with leading thinkers such as Herb Gintis, Pierangelo Garegnani and Duncan Foley, who seek to explain the rejection of general equilibrium. Uniquely, none of the contributors portray general equilibrium theory as the perfect guide to market economies actual behaviour, but rather illustrate that there is insufficient acquaintance with existing alternatives and that general equilibrium theory is often used as an ideal 'benchmark'.
Author : Pierre N.V. Tu
Publisher : Springer Science & Business Media
ISBN 13 : 3662027798
Total Pages : 257 pages
Book Rating : 4.6/5 (62 download)
Download or read book Dynamical Systems written by Pierre N.V. Tu and published by Springer Science & Business Media. This book was released on 2013-11-11 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dynamic tools of analysis and modelling are increasingly used in Economics and Biology and have become more and more sophisticated in recent years, to the point where the general students without training in Dynamic Systems (DS) would be at a loss. No doubt they are referred to the original sources of mathematical theorems used in the various proofs, but the level of mathematics is generally beyond them. Students are thus left with the burden of somehow understanding advanced mathematics by themselves, with· very little help. It is to these general students, equipped only with a modest background of Calculus and Matrix Algebra that this book is dedicated. It aims at providing them with a fairly comprehensive box of dynamical tools they are expected to have at their disposal. The first three Chapters start with the most elementary notions of first and second order Differential and Difference Equations. For these, no matrix theory and hardly any calculus are needed. Then, before embarking on linear and nonlinear DS, a review of some Linear Algebra in Chapter 4 provides the bulk of matrix theory required for the study of later Chapters. Systems of Linear Differ ential Equations (Ch. 5) and Difference Equations (Ch. 6) then follow to provide students with a good background in linear DS, necessary for the subsequent study of nonlinear systems. Linear Algebra, reviewed in Ch. 4, is used freely in these and subsequent chapters to save space and time.
Author : John Stachurski
Publisher : Springer Science & Business Media
ISBN 13 : 3642223974
Total Pages : 454 pages
Book Rating : 4.6/5 (422 download)
Download or read book Nonlinear Dynamics in Equilibrium Models written by John Stachurski and published by Springer Science & Business Media. This book was released on 2012-01-25 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: Optimal growth theory studies the problem of efficient resource allocation over time, a fundamental concern of economic research. Since the 1970s, the techniques of nonlinear dynamical systems have become a vital tool in optimal growth theory, illuminating dynamics and demonstrating the possibility of endogenous economic fluctuations. Kazuo Nishimura's seminal contributions on business cycles, chaotic equilibria and indeterminacy have been central to this development, transforming our understanding of economic growth, cycles, and the relationship between them. The subjects of Kazuo's analysis remain of fundamental importance to modern economic theory. This book collects his major contributions in a single volume. Kazuo Nishimura has been recognized for his contributions to economic theory on many occasions, being elected fellow of the Econometric Society and serving as an editor of several major journals. Chapter “Introduction” is available open access under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License via link.springer.com.
Author : Tönu Puu
Publisher : Springer Science & Business Media
ISBN 13 : 3642972918
Total Pages : 163 pages
Book Rating : 4.6/5 (429 download)
Download or read book Nonlinear Economic Dynamics written by Tönu Puu and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: The present study is a preliminary draft on nonlinear economic dynamics, with which the author has been concerned the last years. It grew out from the joint work by Professor Martin Beckmann and the present author on nonlinear statics in spatial economics, Beckmann and Puu, "Spatial Economics" (North-Holland 1985). The monograph mentioned contains sections on price waves and business cycles, but in a linear format. The rest is static theory. The author has finally come to the conviction that linear dynamic modelling has very little to yield. This is due to the poor set of alternatives -decay or explosion of motion -pertinent to linear models. Therefore, the present work centres on non-linearity. Another distinction is that only purely causal models are dealt with, as those formatted as inter-temporal equilibria hardly belong to the more restricted field of dynamics. The spatial origin is visible in the choice of models. Chapter 2 summarizes the work by the author on the structural stability of continuous spatial market equilibrium models. Chapter 3 deals with a re-fonnulation of the ingenious population growth and diffusion model invented by the young Hotelling in 1921. Chapter 4 is a detailed digression on business cycle models in a continuous spatial format with inter-regional trade.
Author : Willem H. Buiter
Publisher : Routledge
ISBN 13 : 1317703367
Total Pages : 328 pages
Book Rating : 4.3/5 (177 download)
Download or read book Temporary Equilibrium and Long-Run Equilibrium (Routledge Revivals) written by Willem H. Buiter and published by Routledge. This book was released on 2014-06-27 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title, first published in 1979, presents the Ph.D. thesis of the world-renowned economist and financial expert, Willem Buiter. In Part I, three alternative specifications of temporary equilibria in asset markets, including their implications for macroeconomic models, are discussed; Part II examines the long-term implications of some short-term macroeconomic models. The analysis of the theoretical foundations of ‘direct crowding out’ and ‘indirect crowding out’ is particularly prominent, with the result that a synthesis of short-term macroeconomic analysis and long-term growth theory is formulated. The traditional tools of comparative dynamics and stability analysis are employed frequently. However, it is also argued that the true scope of government policy can only be adequately evaluated with the aid of concepts such as dynamic and static controllability. Temporary Equilibrium and Long-Run Equilibrium is a valuable study, and relevant for all serious students of modern economic theory.
Author : Kazuo Nishimura
Publisher : Springer
ISBN 13 : 3319440764
Total Pages : 405 pages
Book Rating : 4.3/5 (194 download)
Download or read book Sunspots and Non-Linear Dynamics written by Kazuo Nishimura and published by Springer. This book was released on 2016-12-03 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the state-of-the-art in non-linear dynamics and sunspots. These two topics have been the core of an international conference on instability and public policies in a globalized world, organized at Aix-Marseille School of Economics and GREQAM in honor of Jean-Michel Grandmont. He has made significant contributions on general equilibrium theory, monetary theory, learning, aggregation, non-linear dynamics and sunspots. This book assembles contributions by Jean-Michel Grandmont's colleagues, students and friends that have been influenced by his works and that are at the frontier of research in this domain today.
Author : Frank Ackerman
Publisher : Routledge
ISBN 13 : 1135997381
Total Pages : 237 pages
Book Rating : 4.1/5 (359 download)
Download or read book The Flawed Foundations of General Equilibrium Theory written by Frank Ackerman and published by Routledge. This book was released on 2004-06-24 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, as the title suggests, explains how General equilibrium, the dominant conceptual framework in mainstream economics, describes a perfectly impossible world. Even with its counterfactual assumptions taken for granted, it fails on many levels. Under the impressive editorship of Ackerman and Nadal, this book will appeal to students and researchers in economics and related social science disciplines.
Author : Michio Morishima
Publisher : Cambridge University Press
ISBN 13 : 9780521118880
Total Pages : 336 pages
Book Rating : 4.1/5 (188 download)
Download or read book Dynamic Economic Theory written by Michio Morishima and published by Cambridge University Press. This book was released on 2009-09-03 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together in a single coherent framework a research program begun by the author over forty years ago. It aims to develop multisector general equilibrium theory in the tradition of Hicks's Value and Capital, and extends the prototype model to accommodate the analysis of the monetary sector as well as production and consumption. The stability of temporary equilibrium is examined for both linear and nonlinear cases along with the economic path that the theory generates.
Author : C.C. v. Weizsäcker
Publisher : Springer Science & Business Media
ISBN 13 : 3642806465
Total Pages : 108 pages
Book Rating : 4.6/5 (428 download)
Download or read book Steady State Capital Theory written by C.C. v. Weizsäcker and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: The following lecture notes were written shortly after I gave a course on capital theory in the winter-semester 1970/71 at the Univer sity of Heidelberg. While the general line of the argument is similar to the one in the course, I have modified and added a large number' of specific points in the process of writing the English version. I should like to emphasize the narrow limitations of the material covered in these notes. I have completely concentrated on steady states of stationary and exponentially growing economies, even up to the point where there is the danger of misleading the reader1 I have done this for several reasons. Other activities have not left me with a sufficient amount of time to be able to find the unifying principle of analysis and mode of presentation for the dynamic aspects of capi tal theory which would have made it worthwhile to add a sizeable book to the large body of literature in this field. On the other hand over the last couple of years I have become increasingly aware that some of the results in steady state capital theory (which could be derived without too much mathematical effort) are of relevance in present day dis cussions about the political role of economic theory and the relative merits of orthodox and radical economics. Also these results seemed not to be known by' mO$ of the participants in these discussions.
