Disequilibrium Growth Theory
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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 Theory Of Equilibrium Growth
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Author : Avinash K. Dixit
language : en
Publisher: Oxford University Press, USA
Release Date : 1976
The Theory Of Equilibrium Growth written by Avinash K. Dixit and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 1976 with Economic development categories.
This book aims to bridge the gap between elementary and advanced textbooks on growth theory, and to highlight and clarify the framework of intertemporal equilibrium that underlies much of growth theory.
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.
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.
Escaping From A Blind Alley
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Author : Peter Kriesler
language : en
Publisher:
Release Date : 2008
Escaping From A Blind Alley written by Peter Kriesler and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
The pioneers of dynamic Keynesian economics, Harrod and Kalecki, began with an analysis of the trade cycle, but are remembered for their contributions to growth theory. Unlike most twentieth century growth theory, they both had a major focus on disequilibrium situations and an examination of this aspect of their theory is the purpose of this paper. Harrod distinguished three stages in his dynamic analysis. The first was the derivation of the fundamental equation and consequent theorems. Fundamental meant underlying: even apart from random factors the equation may never hold exactly in real life. In the second stage, detailed analysis was made of the factors (in addition to the fundamental equation) which have a systematic effect on the path the economy follows. The final stage is policy prescriptions. Except in his 1936 book on the trade cycle, Harrod did relatively little quot;second stagequot; work but this did not stop him putting forward policy prescriptions. This three stage structure of analysis contributed to the widespread misunderstanding of the nature of his fundamental equation leading to a widely accepted view of a Harrod growth model which was completely different to what Harrod thought he was putting forward. Kalecki, on the other hand, rejected what Harrod had called quot;first stage analysisquot; as being of little interest. His main criticisms of growth theory were aimed at, what he saw, as the vacuousness of such theorising. Instead, his work concentrated on second and third stage analysis, that is, in attempting to understand the non-equilibrium, dynamics of the economy with a view towards policy prescription. For this reason, Kalecki's contribution was less open to misunderstanding than was Harrod's.
Growth And Distribution
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Author : Walter Eltis
language : en
Publisher: London : Macmillan
Release Date : 1973
Growth And Distribution written by Walter Eltis and has been published by London : Macmillan this book supported file pdf, txt, epub, kindle and other format this book has been release on 1973 with Business & Economics categories.
Economic research study presenting a growth model for economic growth and distribution, based on a critical examination of neoclassical and keynesian economic theory - maintains that an economy's rate of technological change will vary with the share of investment in the national income, and covers capital formation and the rate of profit, the significance of investment promotion, growth rates, disequilibrium growth, income distribution, etc. Bibliography pp. 351 to 357 and diagrams.
Development Economics In The Twenty First Century
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Author : Claudia Sunna
language : en
Publisher: Routledge
Release Date : 2015-12-14
Development Economics In The Twenty First Century written by Claudia Sunna and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-14 with Business & Economics categories.
Development Economics has been identified as a homogeneous body of theory since the 1950s, concerned both with the study of development issues and with the shaping of more effective policies for less advanced economies. Development Economics in the Twenty-First Century brings together an international contributor team in order to explore the origins and evolution of development economics. This book highlights the different elements of ‘high development theory’ through a precise reconstruction of the different theoretical approaches that developed between the 1950s and the 1970s. These include the theory of balanced and unbalanced growth theory, the debate on international trade, the concept of dualism, dependency theory, structuralism and the analysis of poverty and institutions. The chapters highlight the relevance and usefulness of these analyses for the contemporary theoretical debate on development issues. Comparative perspectives are explored and analysed, including those of Keynes, Hirschman, Krugman and Stiglitz. The chapters situate development economics within current debates among economists and historians of economic thought, providing a platform for future research. This book is suitable for researchers and students with an interest in Development Economics, the History of Economic development and the Economics of Developing Countries.
New Growth Theory
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Author : Jatikumar Sengupta
language : en
Publisher: Edward Elgar Publishing
Release Date : 1998
New Growth Theory written by Jatikumar Sengupta and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Business & Economics categories.
Attempts to explain the process of long-run economic growth through endogenous forces such as human capital, knowledge spillover, and information technology. Reviews economic issues in new growth theory, and discusses its empirical evidence and usefulness in national policy making. Analyzes the dynamic and disequilibrium models as applied to recent international growth and discusses their policy implications, and empirically illustrates the various phases of growth in technology-intensive sectors such as flexible manufacturing and the semiconductor and telecommunications industries. Annotation copyrighted by Book News, Inc., Portland, OR
Endogenous Growth Theory
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Author : Philippe Aghion
language : en
Publisher: MIT Press
Release Date : 1998
Endogenous Growth Theory written by Philippe Aghion and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Business & Economics categories.
"Problems and solutions by Cecilia Garcâia-Peänalosa in collaboration with Jan Boone, Chol-Won Li, and Lucy White." Includes bibliographical references (p. [665]-687) and index.
Models Of Disequilibrium And Shortage In Centrally Planned Economies
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Author : C.M. Davis
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Models Of Disequilibrium And Shortage In Centrally Planned Economies written by C.M. Davis 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.
The centrally planned economies (CPEs) of the Soviet Union and Eastern Europe have experienced severe imbalances in domestic and external markets over the past several decades. As a result, they have been chronically afflicted by problems such as excess demand, repressed inflation, deficits of commodities, queues, waiting lists, and forced savings. Economists have responded to these phenomena by developing appropriate theoretical and empirical models of CPEs. Of particular note have been the pioneering studies of Richard Portes on disequilibrium econometric models and Janos Kornai on the shortage economy. Each approach has attracted followers who have produced numerous, innovative macro- and microeconomic models of Poland, Czechoslovakia, the German Democratic Republic, Hungary, and the USSR. These models have proved to be of considerable value in the analysis of the causes, consequences and remedies of disequilibrium phenomena. Inevitably, the new research has also generated controversies both between and within the schools of shortage and disequilibrium modelling, concerning the fundamental nature of the socialist economy, theoretical concepts and definitions, the specification of models, estimation techniques, interpretation of empirical findings, and policy recommend ations. Furthermore, the research effort has been energetic but incomplete, so many gaps exist in the field.