Capital Time And Transitional Dynamics
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Capital Time And Transitional Dynamics
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Author : Harald Hagemann
language : en
Publisher: Routledge
Release Date : 2009-01-13
Capital Time And Transitional Dynamics written by Harald Hagemann and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-01-13 with Business & Economics categories.
This innovative volume presents a comprehensive appraisal of John Hicks' Capital and Time (1973) thirty years on from its original publication. Contributors include Walter Eltis, Heinz Kurz and Maghnad Desai.
Transitional Dynamics In Two Sector Models Of Endogenous Growth
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Author : Casey B. Mulligan
language : en
Publisher:
Release Date : 1992
Transitional Dynamics In Two Sector Models Of Endogenous Growth written by Casey B. Mulligan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Capital categories.
The steady state and transitional dynamics of two-sector models of endogenous growth are analyzed in this paper. We describe necessary conditions for endogenous growth. The conditions allow us to reduce the dynamics of the solution to a system with one state-like and two control-like variables. We analyze the determinants of the long run growth rate. We use the Time-Elimination Method to analyze the transitional dynamics of the models. We find that there are transitions in real time if the point-in-time production possibility frontier is strictly concave, which occurs, for example, if the two production functions are different or if there are decreasing point-in-time returns in any of the sectors. We also show that if the models have a transition in real time, the models are globally saddle path stable. We find that the wealth or consumption smoothing effect tends to dominate the substitution or real wage effect so that the transition from relatively low levels of physical capital is carried over through high work effort rather than high savings. We develop some empirical implications. We show that the models predict conditional convergence in that, in a cross section, the growth rate is predicted to be negatively related to initial income but only after some measure of human capital is held constant. Thus, the models are consistent with existing empirical cross country evidence.
Endogenous Time Preference And Endogenous Growth
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Author : Mr.Howell H. Zee
language : en
Publisher: International Monetary Fund
Release Date : 1994
Endogenous Time Preference And Endogenous Growth written by Mr.Howell H. Zee and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Business & Economics categories.
The present paper develops a one-sector aggregate endogenous growth model with intertemporal preference dependence. The resultant model possesses the fundamental property of growth convergence, in the sense that countries with identical parameters regarding technology, preference, and government policy will converge to a steady state with the same (positive) growth rate. A notable tax policy implication of the model is that, even in the absence of externalities, the growth effects of an income tax are shown to be a priori ambiguous and dependent on the relative magnitudes of the tax rate and the tax elasticity of the savings rate.
Transitional Dynamics And Economic Growth In Developing Countries
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Author : Thomas Steger
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Transitional Dynamics And Economic Growth In Developing Countries written by Thomas Steger 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 2012-12-06 with Business & Economics categories.
Four stylised facts of aggregate economic growth are set up initially. The growth process is interpreted to represent transitional dynamics rather than balanced-growth equilibria. Against this background, the fundamental importance of subsistence consumption is comprehensively analysed. Subsequently, the meaning of the productive-consumption hypothesis for the intertemporal consumption trade-off and the growth process is investigated. Finally, the process of growth is analysed empirically by means of cross-sectional conditional convergence regressions with endogenous control variables.
Macroeconomics And The History Of Economic Thought
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Author : H.M. Krämer
language : en
Publisher: Routledge
Release Date : 2012-03-29
Macroeconomics And The History Of Economic Thought written by H.M. Krämer and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03-29 with Business & Economics categories.
The essays in this Festschrift have been chosen to honour Harald Hagemann and his scientific work. They reflect his main contributions to economic research and his major fields of interest. The essays in the first part deal with various aspects within the history of economic thought. The second part is about the current state of macroeconomics. The essays in the third part of the book cover topics on economic growth and structural dynamics.
Pluralistic Economics And Its History
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Author : Ajit Sinha
language : en
Publisher: Taylor & Francis
Release Date : 2019-05-24
Pluralistic Economics And Its History written by Ajit Sinha and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-24 with Business & Economics categories.
This volume is a history of economics – as it was interpreted, discussed and established as a discipline – in the 20th century. It highlights the pluralism of the discipline and brings together leading voices in the field who reflect on their lifelong work. The chapters draw on a host of traditions of economic thought, including pre-classical, classical, Marxian, neoclassical, Sraffian, post-Keynesian, Cantabrigian and institutionalist traditions in economics. Further, the volume also looks at the history of economics in India and its evolution as a discipline since the country’s independence. This book will appeal to students, researchers and teachers of economics and intellectual history, as well as to the interested general reader.
Sraffa And The Reconstruction Of Economic Theory Volume One
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Author : E. Levrero
language : en
Publisher: Springer
Release Date : 2013-12-17
Sraffa And The Reconstruction Of Economic Theory Volume One written by E. Levrero and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-17 with Business & Economics categories.
This book accounts for the work done around the two central aspects of Piero Sraffa's contribution to economic analysis, namely the criticism of the neoclassical theory of value and distribution and the reconstruction of economic theory along the lines of the Classical approach.
Methods Of Macroeconomic Dynamics
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Author : Stephen J. Turnovsky
language : en
Publisher: MIT Press
Release Date : 2000
Methods Of Macroeconomic Dynamics written by Stephen J. Turnovsky and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.
Just as macroeconomic models describe the overall economy within a changing, or dynamic, framework, the models themselves change over time. In this text Stephen J. Turnovsky reviews in depth several early models as well as a representation of more recent models. They include traditional (backward-looking) models, linear rational expectations (future-looking) models, intertemporal optimization models, endogenous growth models, and continuous time stochastic models. The author uses examples from both closed and open economies. Whereas others commonly introduce models in a closed context, tacking on a brief discussion of the model in an open economy, Turnovsky integrates the two perspectives throughout to reflect the increasingly international outlook of the field. This new edition has been extensively revised. It contains a new chapter on optimal monetary and fiscal policy, and the coverage of growth theory has been expanded substantially. The range of growth models considered has been extended, with particular attention devoted to transitional dynamics and nonscale growth. The book includes cutting-edge research and unpublished data, including much of the author's own work.
The Palgrave Handbook Of Political Economy
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Author : Ivano Cardinale
language : en
Publisher: Springer
Release Date : 2018-08-16
The Palgrave Handbook Of Political Economy written by Ivano Cardinale and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-08-16 with Political Science categories.
This book is a major contribution to the study of political economy. With chapters ranging from the origins of political economy to its most exciting research fields, this handbook provides a reassessment of political economy as it stands today, whilst boldly gesturing to where it might head in the future. This handbook transcends the received dichotomy between political economy as an application of rational choice theory or as the study of the causes of societies’ material welfare, outlining a broader field of study that encompasses those traditions. This book will be essential reading for academics, researchers, students, and anyone looking for a comprehensive reassessment of political economy.
The Political Economy Of The Eurozone
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Author : Ivano Cardinale
language : en
Publisher: Cambridge University Press
Release Date : 2017-10-12
The Political Economy Of The Eurozone written by Ivano Cardinale 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 2017-10-12 with Business & Economics categories.
This book proposes a new way of thinking about the Eurozone, exploring the overlap between its economic and political interdependencies.