Biased Technical Change And Economic Conservation Laws
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Biased Technical Change And Economic Conservation Laws
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Author : Ryuzo Sato
language : en
Publisher: Springer Science & Business Media
Release Date : 2006-06-01
Biased Technical Change And Economic Conservation Laws written by Ryuzo Sato and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-06-01 with Business & Economics categories.
Productivity of inputs is an important determinant of the competitiveness of firms in national and international markets. Productivity growth arises from deliberate decisions to innovate but the technological opportunities could be such that different inputs would have different rates of growth. Previous literature has mostly concentrated on labor productivity but empirical studies indicate that productivity of capital is also increasing. One of the objectives of this book is to examine the difference or bias in the productivity growth of the two inputs. In this book, application of this general approach to study of biased technical change is developed and new empirical results presented for both macroeconomies and microeconomic firms.
Biased Technical Change And Economic Conservation Laws
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Author : RyÕuzÕo SatÕo
language : en
Publisher:
Release Date : 2006
Biased Technical Change And Economic Conservation Laws written by RyÕuzÕo SatÕo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Conservation laws (Mathematics) categories.
The principal aim of BIASED TECHNICAL CHANGE AND ECONOMIC CONSERVATION LAWS is twofold: to reveal the new economic significance of the old concept of biased technical change and the current application of the new concept of economic conservation laws. Although terms such as "labor saving" and "capital saving" fall under the category of biased technical change, the first of these topics, no model exists in which biased technical change gives rise endogenously to technical progress. A special feature of this book is its thorough investigation and analysis of these issues, which go far beyond existing studies in this area. The concept of economic conservation laws dates back to Ramsey{u2019}s classic study of 1928. This book primarily makes use of Lie groups to shed new light on the analysis of economic conservation laws. Economic conservation laws are not simply abstract concepts; this book shows that they are tools of empirical analysis that can be applied to such topics as analyses of macro performance and corporate efficiency.
Symmetry And Economic Invariance
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Author : Ryuzo Sato
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-12-09
Symmetry And Economic Invariance written by Ryuzo Sato and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-09 with Business & Economics categories.
Symmetry and Economic Invariance (second enhanced edition) explores how the symmetry and invariance of economic models can provide insights into their properties. Although the professional economist of today is adept at many of the mathematical techniques used in static and dynamic optimization models, group theory is still not among his or her repertoire of tools. The authors aim to show that group theoretic methods form a natural extension of the techniques commonly used in economics and that they can be easily mastered. Part I provides an introduction that minimizes prerequisites including prior knowledge of group theory. Part II discusses recent developments in the field.
Conservation Laws And Symmetry Applications To Economics And Finance
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Author : Ryuzo Sato
language : en
Publisher: Springer Science & Business Media
Release Date : 1990-05-31
Conservation Laws And Symmetry Applications To Economics And Finance written by Ryuzo Sato and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990-05-31 with Business & Economics categories.
Modem geometric methods combine the intuitiveness of spatial visualization with the rigor of analytical derivation. Classical analysis is shown to provide a foundation for the study of geometry while geometrical ideas lead to analytical concepts of intrinsic beauty. Arching over many subdisciplines of mathematics and branching out in applications to every quantitative science, these methods are, notes the Russian mathematician A.T. Fomenko, in tune with the Renais sance traditions. Economists and finance theorists are already familiar with some aspects of this synthetic tradition. Bifurcation and catastrophe theo ries have been used to analyze the instability of economic models. Differential topology provided useful techniques for deriving results in general equilibrium analysis. But they are less aware of the central role that Felix Klein and Sophus Lie gave to group theory in the study of geometrical systems. Lie went on to show that the special methods used in solving differential equations can be classified through the study of the invariance of these equations under a continuous group of transformations. Mathematicians and physicists later recognized the relation between Lie's work on differential equations and symme try and, combining the visions of Hamilton, Lie, Klein and Noether, embarked on a research program whose vitality is attested by the innumerable books and articles written by them as well as by biolo gists, chemists and philosophers.
Conservation Laws And Symmetry Applications To Economics And Finance
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Author : Ryuzo Sato
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-06-29
Conservation Laws And Symmetry Applications To Economics And Finance written by Ryuzo Sato and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06-29 with Business & Economics categories.
Modem geometric methods combine the intuitiveness of spatial visualization with the rigor of analytical derivation. Classical analysis is shown to provide a foundation for the study of geometry while geometrical ideas lead to analytical concepts of intrinsic beauty. Arching over many subdisciplines of mathematics and branching out in applications to every quantitative science, these methods are, notes the Russian mathematician A.T. Fomenko, in tune with the Renais sance traditions. Economists and finance theorists are already familiar with some aspects of this synthetic tradition. Bifurcation and catastrophe theo ries have been used to analyze the instability of economic models. Differential topology provided useful techniques for deriving results in general equilibrium analysis. But they are less aware of the central role that Felix Klein and Sophus Lie gave to group theory in the study of geometrical systems. Lie went on to show that the special methods used in solving differential equations can be classified through the study of the invariance of these equations under a continuous group of transformations. Mathematicians and physicists later recognized the relation between Lie's work on differential equations and symme try and, combining the visions of Hamilton, Lie, Klein and Noether, embarked on a research program whose vitality is attested by the innumerable books and articles written by them as well as by biolo gists, chemists and philosophers.
Theory Of Technical Change And Economic Invariance
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Author : Ryuzo Sato
language : en
Publisher: Academic Press
Release Date : 2014-05-10
Theory Of Technical Change And Economic Invariance written by Ryuzo Sato and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-10 with Business & Economics categories.
Theory of Technical Change and Economic Invariance: Application of Lie Groups presents the economic invariance problems observable behavior under general transformations such as taste change or technical change. This book covers a variety of topics in economic theory, ranging from the analysis of production functions to the general recoverability problem of optimal dynamic behavior. Organized into nine chapters, this book begins with an overview of the theory of observable behavior by analyzing the invariant relationships among economic variables. This text then examines the Lie group theory which provides one of the most efficient methods of studying invariance properties. Other chapters consider the analysis of exogenous technical change, a process partly due to dynamic market forces of supply and demand. This book discusses as well the topics closely related to parametric changes under Lie groups and related transformations. The final chapter deals with mathematical foundations of the theory of observable market behavior. This book is a valuable resource for economists.
Economic Growth
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Author : Olivier de La Grandville
language : en
Publisher: Cambridge University Press
Release Date : 2017
Economic Growth written by Olivier de La Grandville and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with Business & Economics categories.
The second edition of this user-friendly book provides a clear and original introduction to the theory of economic growth. The book has been fully updated to incorporate several important new results and proofs, and offers a new solution to the fundamental question: how much should a nation save and invest?
Economic Growth And Development
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Author : Olivier La Grandville
language : en
Publisher: Emerald Group Publishing
Release Date : 2011-12-12
Economic Growth And Development written by Olivier La Grandville and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12-12 with Business & Economics categories.
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.
Theoretical Foundations Of Macroeconomic Policy
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Author : Giovanni Di Bartolomeo
language : en
Publisher: Routledge
Release Date : 2016-07-15
Theoretical Foundations Of Macroeconomic Policy written by Giovanni Di Bartolomeo and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-15 with Business & Economics categories.
The recent economic events driven by the great financial crisis of 2007-08 has challenged some "dogma", highlighting various limits and drawbacks of current paradigms. The crisis showed the limitations of monetary policy and led to a revaluation of what levels of public debt can be considered safe. This volume aims to refresh the debate on some important long-run macroeconomic issues from new and fresh perspectives. Theoretical Foundations of Macroeconomic Policy raises a number of questions relating to the challenges faced by macroeconomic theory and policies. The common line is the long run and policy perspective. The first part of the book is devoted to the theory of growth and productivity. The second part concentrates on long-run effects of fiscal and monetary policy. Specifically, topics investigated by the international range of authors are the theory of optimal growth, the productivity policies and production function estimations, demand- vs. supply- driven growth, optimal debt default and the incompleteness of financial markets, the long-run optimal inflation target and its relationship with public finance, the long term effects of government budget constraints on growth, and effect on optimal policies in non-market clearing environment. The book will be of interest to postgraduates, researchers, and academics studying macroeconomics and fiscal policies.
Modeling Biased Technical Change Implications For Climate Policy
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Author : Carlo Carraro
language : en
Publisher:
Release Date : 2012
Modeling Biased Technical Change Implications For Climate Policy written by Carlo Carraro and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
Climate-economy models aiming at quantifying the costs and effects of climate change impacts and policies have become important tools for climate policy decision-making. Although there are several important dimensions along which models differ, this paper focuses on a key component of climate change economics and policy, namely technical change. This paper tackles the issues of whether technical change is biased towards the energy sectors, the importance of the elasticity of substitution between factors in determining this bias and how mitigation policy is likely to affect it. The analysis is performed using the World Induced Technical Change model, WITCH. Three different versions of the model are proposed. The starting set-up includes endogenous technical change only in the energy sector. A second version introduces endogenous technical change in both the energy and non-energy sectors. A third version of the model embodies different sources of technical change, namely R&D and human capital. Although different formulations of endogenous technical change have only a minor influence on climate policy costs, the macroeconomic effects on knowledge and human capital formation can vary greatly.