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Author: Jang Hee Yoo
Publisher:
ISBN:
Category :
Languages : en
Pages : 165
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Book Description
Author: Jang Hee Yoo
Publisher:
ISBN:
Category :
Languages : en
Pages : 165
Get Book Here
Book Description
Author: Jang Hee Yoo
Publisher:
ISBN:
Category : Equilibrium (Economics)
Languages : en
Pages : 330
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Author: Carl Chiarella
Publisher: Springer Science & Business Media
ISBN: 3662040700
Category : Business & Economics
Languages : en
Pages : 487
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Book Description
In this book on disequilibrium, growth and labor market dynamics we take predominantly a macroeconomic perspective. We present a working model that can easily be varied in different directions in order to subsume innovations in the literature on macroeconomics, old and new, and to contribute to important currently discussed macroeconomic issues. Our working model is set up in a way that there is a close relationship between our presented dynamic models and modern macro econometric models with disequilibrium both in the labor and the goods markets. One of our objectives is, therefore, to narrow the gap between theoretical and applied structural macrodynamic model building. We hope that the book will be a useful reference for all researchers, academic teachers and practitioners of macroeconomic and macro econometric model building who are interested in economic dynamics, independently of whether they use equilibrium or disequilibrium methods in their own research. We base this hope on the fact that our approach contains a number of unique features. The emphasis on the identification and analysis of the basic feedback mechanisms at work in modern macro economies. A detailed study of the partial as well as integrated dynamic interaction between these feedback mechanisms that consti tute the interdependence of markets and sectors of the modern macro economy. The rela tionship between the macroeconomic framework of our working model and the Walrasian, Non-Walrasian and New-Keynesian reformulations of macroeconomics.
Author: Jack C. High
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 196
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Book Description
Nothing is more central to economics than price, and nothing is more characteristic of market prices than ferment and change. Yet modern economists have paid relatively little attention to the theory of price dynamics.
Author: Jean-Paul Lambert
Publisher: CUP Archive
ISBN: 9780521322096
Category : Business & Economics
Languages : en
Pages : 204
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Author: Glenn D. Rudebusch
Publisher: Springer
ISBN:
Category : Business & Economics
Languages : en
Pages : 148
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Author: Seppo Honkapohja
Publisher:
ISBN:
Category : Equilibrium (Economics)
Languages : en
Pages : 35
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In this paper, our aim is to develop an alternative approach to analyzing a macroeconomic model where markets do not clear. Earlier approaches have had difficulties in interpreting effective demand, a key concept in disequilibrium macroeconomics. We propose a new definition of effective demand similar to that of Svensson, Gale, and Green. Given the states of the markets, there is in general uncertainty about the amount of trades individuals can complete. Considering this uncertainty, each individual has to make binding trade offers, i.e., effective demands, a fraction of which will be actually transacted. Using the newly-defined effective demand, we define the rationing equilibrium as a fixed point of disequilibrium signals. We analyze various regimes of rationing equilibria. The most startling conclusion is the multiplicity of equilibria: (1) given wages and prices, there may exist more than one type of equilibrium and (ii) even at Wairasian prices there may exist non-Walrasian equilibria, and these are usually stable with respect to a quantity-adjustment mechanism while the Wairasian equilibrium is unstable, The comparative-static properties of policy we also considered, and they are comparable to those of the earlier approach.
Author: David H. Howard
Publisher:
ISBN:
Category : Equilibrium (Economics)
Languages : en
Pages : 170
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Author: Martin Joseph Rini
Publisher:
ISBN:
Category : Equilibrium (Economics)
Languages : en
Pages : 108
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Author: Yoshitsugu Kanemoto
Publisher:
ISBN:
Category : Equilibrium (Economics)
Languages : en
Pages : 32
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