Economic Dynamics And General Equilibrium

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Dynamic General Equilibrium Modeling

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Author : Burkhard Heer
language : en
Publisher: Springer Science & Business Media
Release Date : 2009-08-12

Dynamic General Equilibrium Modeling written by Burkhard Heer 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 2009-08-12 with Business & Economics categories.

Modern business cycle theory and growth theory uses stochastic dynamic general equilibrium models. In order to solve these models, economists need to use many mathematical tools. This book presents various methods in order to compute the dynamics of general equilibrium models. In part I, the representative-agent stochastic growth model is solved with the help of value function iteration, linear and linear quadratic approximation methods, parameterised expectations and projection methods. In order to apply these methods, fundamentals from numerical analysis are reviewed in detail. In particular, the book discusses issues that are often neglected in existing work on computational methods, e.g. how to find a good initial value. In part II, the authors discuss methods in order to solve heterogeneous-agent economies. In such economies, the distribution of the individual state variables is endogenous. This part of the book also serves as an introduction to the modern theory of distribution economics. Applications include the dynamics of the income distribution over the business cycle or the overlapping-generations model. In an accompanying home page to this book, computer codes to all applications can be downloaded.

Economic Dynamics And General Equilibrium

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Author : Anders Borglin
language : en
Publisher: Springer Science & Business Media
Release Date : 2004-01-22

Economic Dynamics And General Equilibrium written by Anders Borglin 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 2004-01-22 with Business & Economics categories.

The developments of economic theory in the 1950s served to pinpoint important underlying assumptions in the study of market institutions. The conflict between observed institutions and the benchmark interpretation became apparent. This led to the introduction of new equilibrium concepts. The emphasis was on the possibilities to transfer purchasing power over time using spot markets involving assets or money. This advanced textbook focuses on the developments in the theory of incomplete markets and overlapping generations economies where income transfers over time are restricted either by available assets or by the unfeasibility of contracts with unborn generations. It bridges the gap between standard textbooks on microeconomics and more advanced expositions. Contains diagrams, examples and exercises.

Introduction To Dynamic Macroeconomic General Equilibrium Models

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Author : Jose Luis Torres Chacon
language : en
Publisher: Vernon Press
Release Date : 2015-03-01

Introduction To Dynamic Macroeconomic General Equilibrium Models written by Jose Luis Torres Chacon and has been published by Vernon Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-01 with categories.

This book offers an introductory step-by-step course to Dynamic Stochastic General Equilibrium modelling. Modern macroeconomic analysis is increasingly concerned with the construction, calibration and/or estimation and simulation of Dynamic General Equilibrium (DGE) models. The book is intended for graduate students as an introductory course to DGE modelling and for those economists who would like a hands-on approach to learning the basics of modern dynamic macroeconomic modelling. The book starts with the simplest canonical neoclassical DGE model and then gradually extends the basic framework incorporating a variety of additional features, such as consumption habit formation, investment adjustment cost, investment-specific technological change, taxes, public capital, household production, non-ricardian agents, monopolistic competition, etc. The book includes Dynare codes for the models developed that can be downloaded from the book's homepage.

Applying General Equilibrium

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Author : John B. Shoven
language : en
Publisher: Cambridge University Press
Release Date : 1992-05-29

Applying General Equilibrium written by John B. Shoven 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 1992-05-29 with Business & Economics categories.

The central idea underlying this work is to convert the Walrasian general equilibrium structure (formalized in the 1950s by Kenneth Arrow, Gerard Debreu and others) from an abstract representation of an economy into realistic models of actual economies.

Introduction To Computable General Equilibrium Models

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Author : Mary E. Burfisher
language : en
Publisher: Cambridge University Press
Release Date : 2016

Introduction To Computable General Equilibrium Models written by Mary E. Burfisher 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 2016 with Business & Economics categories.

The book provides a hands-on introduction to computable general equilibrium (CGE) models, written at an accessible, undergraduate level.

The General Economic Theory

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Author : Wei-Bin Zhang
language : en
Publisher: Springer Nature
Release Date : 2020-08-27

The General Economic Theory written by Wei-Bin Zhang and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-08-27 with Business & Economics categories.

This book develops a general economic theory that integrates various economic theories and ideas and establishes important relationships between economic variables that are not formally recognized in the economic literature. The author demonstrates how the basic model is integrated with neoclassical growth theory, Walrasian general equilibrium theory, and Ricardian distribution theory, and how these theories can be incorporated through a single set of equations with a microeconomic basis. The book offers new insights into income and wealth distribution between heterogeneous households, racial and national differences in growth and development, interdependence between different stock variables with portfolio choices among different markets. It will appeal to scholars of economists interested in an integrative theoretical approach to this discipline.

Fundamentals Of General Equilibrium Analysis

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Author : Takashi Suzuki
language : en
Publisher: World Scientific
Release Date : 2020-09-03

Fundamentals Of General Equilibrium Analysis written by Takashi Suzuki and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-03 with Business & Economics categories.

The aim of this book is to incorporate Marshallian ideas such as external increasing returns and monopolistic competitions into the general equilibrium framework of Walrasian tradition. New chapters and sections have been added to this revised and expanded edition of General Equilibrium Analysis of Production and Increasing Returns (World Scientific, 2009).The new material includes a presentation of equilibrium existence and core equivalence theorems for an infinite horizon economy with a measure space of consumers. These results are currently the focus of extensive studies by mathematical theorists, and are obtained by an application of an advanced mathematical concept called saturated (super-atomless) measure space.The second major change is the inclusion of a simple toy model of a liberal society which implements the difference principle proposed by J Rawls as a principle of distributive justice. This new section opens up a possibility to connect theoretical economics and political philosophy.Thirdly, the author presents the marginal cost pricing equilibrium and discusses welfare properties of the external increasing returns, which also belong to Marshall/ Pigou tradition of the Cambridge school.Finally, a new mathematical appendix treats basics of singular homology theory. Although the fixed point theorem is originally a theorem of algebraic topology, most economic students know its proof only in the context of the differentiable manifold theory presented by J Milnor. Considering the significance of the fixed point theorem and its playing a key role in general equilibrium theory, the purpose of this new appendix is to provide readers with the idea of a proof of Brower's fixed point theorem from the 'right place'.This volume will be helpful for graduate students and researchers of mathematical economics, game theory, and microeconomics.

The Theory Of General Economic Equilibrium

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Author : Andreu Mas-Colell
language : en
Publisher: Cambridge University Press
Release Date : 1985

The Theory Of General Economic Equilibrium written by Andreu Mas-Colell 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 1985 with Business & Economics categories.

This book brings together the author's pioneering work, written over the last twenty years, on the use of differential methods in general equilibrium theory.

Dynamic General Equilibrium Modelling

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Author : Burkhard Heer
language : en
Publisher: Springer Science & Business Media
Release Date : 2005-12-05

Dynamic General Equilibrium Modelling written by Burkhard Heer 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 2005-12-05 with Business & Economics categories.

Modern business cycle theory and growth theory uses stochastic dynamic general equilibrium models. Many mathematical tools are needed to solve these models. The book presents various methods for computing the dynamics of general equilibrium models. In part I, the representative-agent stochastic growth model is solved with the help of value function iteration, linear and linear quadratic approximation methods, parameterised expectations and projection methods. In order to apply these methods, fundamentals from numerical analysis are reviewed in detail. Part II discusses methods for solving heterogeneous-agent economies. In such economies, the distribution of the individual state variables is endogenous. This part of the book also serves as an introduction to the modern theory of distribution economics. Applications include the dynamics of the income distribution over the business cycle or the overlapping-generations model. Through an accompanying home page to this book, computer codes to all applications can be downloaded.

Foundations Of The Theory Of General Equilibrium

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Author : Yves Balasko
language : en
Publisher: World Scientific Publishing Company
Release Date : 2016

Foundations Of The Theory Of General Equilibrium written by Yves Balasko and has been published by World Scientific Publishing Company this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Equilibrium (Economics) categories.

The economic theory of general equilibrium underpins the most important models used in economic theory in general and in its more specialized areas such as macroeconomics, international trade, environmental economics, growth theory, and developmental economics. In Foundations of the Theory of General Equilibrium, leading academic scholar, Yves Balasko offers a good introduction to the economic theory of general equilibrium and makes use of various mathematical tools as intuitive and easy as possible. The second half of the book addresses properties of the general equilibrium model that are still at the frontier of current research. These properties deal with the characterization of economies with a unique equilibrium and, more generally, with the relationships between the number of equilibria and the fundamentals of an economy.