Disequilibrium Growth And Labor Market Dynamics
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Disequilibrium Growth And Labor Market Dynamics
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Author : Carl Chiarella
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-06-29
Disequilibrium Growth And Labor Market Dynamics written by Carl Chiarella 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.
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.
Disequilibrium Growth And Labor Market Dynamics
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Author : Carl Chiarella
language : en
Publisher:
Release Date : 2014-01-15
Disequilibrium Growth And Labor Market Dynamics written by Carl Chiarella and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-01-15 with categories.
Disequilibrium Growth Theory
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Author : Charles van Marrewijk
language : en
Publisher: Ashgate Publishing
Release Date : 1993
Disequilibrium Growth Theory written by Charles van Marrewijk and has been published by Ashgate Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Business & Economics categories.
Static disequilibrium economic theory fails to analyse the dynamic effects of market disequilibrium, whereas standard growth theory always assumes markets to be in equilibrium. Both shortcomings can be overcome by disequilibrium growth theory. A problem arises, however, because different short term disequilibrium regimes give rise to differential equations. The dynamic analysis, therefore, has to take into consideration the possibility of regime switching. Various solutions have been put forward for this problem, but they generally do not give unique solutions. The method developed by Filippov gives a unique solution that coincides with the classical solution to differential equations in the interior of the regimes. This approach has been used in several papers in the past decade. This book seeks to fill the gap in the literature on what has been achieved so far.
The Labor Market And Business Cycle Theories
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Author : Piero Ferri
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
The Labor Market And Business Cycle Theories written by Piero Ferri 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 Political Science categories.
Interest in business cycles has had its 'ups and downs'. After a period of almost steady state growth and of economic tranquility, when the business cycle seemed to be obsolete, the turbulence of the 70s and 80s has contributedto a renewed interest in the topic. Important analytical and methodological innovations have also favored the present abundance of contributions. Four innovations are of particular importance: i. microfoundations ii. nonlinearities iii. stochastic variables iv. real aspects. Both Classical macroeconomics and new-Keynesian approaches seem to share these characteristics, which apply both to endogenous and exogenous explanations of the cycle. The distance separating the newer literature from its forebears seems vast. Previously, cycle theory was characterized by a macro approach and utilized nonlinearities either through piecewise 'linear models or with the aid of Classical theorems in the field of dynamic systems. To consider and to compare the old and the new literature on business cycles is one of the goals of this book. To narrow the distance separating them is another goal of this research. We do not try to bridge it, but rather to revisit the former tradition with new tools. Finally, a particular emphasis is put on the 'ceilings and floors' type of literature. One of us has written a D. Phil. thesis with Sir John Hicks, and both have worked with H. P. Minsky. Hicks, along with Goodwin, introdu. ced the concept of ceilings and floors into business cycle analysis, and Minsky made important contributions to the area.
Labor Markets And Business Cycles
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Author : Robert Shimer
language : en
Publisher: Princeton University Press
Release Date : 2010-04-12
Labor Markets And Business Cycles written by Robert Shimer and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-04-12 with Business & Economics categories.
Labor Markets and Business Cycles integrates search and matching theory with the neoclassical growth model to better understand labor market outcomes. Robert Shimer shows analytically and quantitatively that rigid wages are important for explaining the volatile behavior of the unemployment rate in business cycles. The book focuses on the labor wedge that arises when the marginal rate of substitution between consumption and leisure does not equal the marginal product of labor. According to competitive models of the labor market, the labor wedge should be constant and equal to the labor income tax rate. But in U.S. data, the wedge is strongly countercyclical, making it seem as if recessions are periods when workers are dissuaded from working and firms are dissuaded from hiring because of an increase in the labor income tax rate. When job searches are time consuming and wages are flexible, search frictions--the cost of a job search--act like labor adjustment costs, further exacerbating inconsistencies between the competitive model and data. The book shows that wage rigidities can reconcile the search model with the data, providing a quantitatively more accurate depiction of labor markets, consumption, and investment dynamics. Developing detailed search and matching models, Labor Markets and Business Cycles will be the main reference for those interested in the intersection of labor market dynamics and business cycle research.
The Conflict Between Equilibrium And Disequilibrium Theories
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Author : Richard E. Quandt
language : en
Publisher:
Release Date : 1988
The Conflict Between Equilibrium And Disequilibrium Theories written by Richard E. Quandt and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Business & Economics categories.
Macrodynamics Fluctuations And Growth
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Author : Pierre-Yves Hénin
language : en
Publisher: Routledge
Release Date : 2013-04-15
Macrodynamics Fluctuations And Growth written by Pierre-Yves Hénin and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-04-15 with Business & Economics categories.
Building from the micro-foundations of economic behaviour to a full survey of macroeconomics, the book examines growth theory and equilibrium and disequilibrium approaches to provide a comprehensive survey of all the rival theoretical approaches that underlie central policy debates. A survey of pre-Keynesian theories of growth, fluctuations and the various short and long cycles and crises is followed by an exposition of Keynesian theory and its subsequent development and of the neo-classical revival. Topics covered include: * Non-clearing markets * Involuntary unemployment * Persistent inflation. As well as full coverage of the English-language literature, Macrodynamics covers important contributions from the new school of French macroeconomists, including Malinvaud, Benassy and Grandmont.
Labor Markets And Employment Relationships
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Author : Joyce Jacobsen
language : en
Publisher: John Wiley & Sons
Release Date : 2008-04-15
Labor Markets And Employment Relationships written by Joyce Jacobsen and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-04-15 with Business & Economics categories.
This innovative text grounds the economic analysis of labor markets and employment relationships in a unified theoretical treatment of labor exchange conditions. In addition to providing thorough coverage of standard topics including labor supply and demand, human capital theory, and compensating wage differentials, the text draws on game theory and the economics of information to study the implications of key departures from perfectly competitive labor market conditions. Analytical results are consistently applied to contemporary policy issues and empirical debates. Provides a coherent theoretical framework for the analysis of labor market phenomena Features graphical in-chapter analysis supplemented by technical material in appendices Incorporates numerous end-of-chapter questions that engage the analysis and anticipate subsequent results Includes innovative chapters on employee compensation methods, market segmentation, income inequality and labor market dynamics Balances theoretical, empirical and policy analysis
Does Trickle Down Work
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Author : Joseph Persky
language : en
Publisher: W.E. Upjohn Institute
Release Date : 2004
Does Trickle Down Work written by Joseph Persky and has been published by W.E. Upjohn Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.
The authors explore a new framework for evaluating economic development projects. This framework is based on a job-chain approach. Each new job created by an economic development incentive is filled by an employee who leaves behind another job. In turn, that job may be filled by someone who leaves behind their old job, etc. Such job chains end when an unemployedworker, someone not previously in the labor force, or an in-migrant to the labor market takes a vacancy. Job chains are the mechanism for observing and measuring "trickle down". The job trains model developed in this book presents new insights into local economic development evaluation and strategy.
The Dynamics Of Keynesian Monetary Growth
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Author : Carl Chiarella
language : en
Publisher: Cambridge University Press
Release Date : 2000-08-03
The Dynamics Of Keynesian Monetary Growth written by Carl Chiarella 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 2000-08-03 with Business & Economics categories.
Originally published in 2000, this book is in the tradition of non-market-clearing approaches to macrodynamic approaches. It builds a series of integrated disequilibrium growth models of increasing complexity, which display the economic interaction between households, firms and government across labour, goods, money, bonds and equities markets. Chiarella and Flaschel demonstrate how macrodynamics can be developed in a hierarchical way from economically simple structures to more advanced ones. In addition it investigates complex macrodynamic feedback mechanisms.