Nonlinear Models Labour Markets And Exchange
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Nonlinear Models Labour Markets And Exchange
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Author : John Creedy
language : en
Publisher: Edward Elgar Publishing
Release Date : 2002-07-29
Nonlinear Models Labour Markets And Exchange written by John Creedy 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 2002-07-29 with Business & Economics categories.
Nonlinear Models, Labour Markets and Exchange offers a number of broad introductory surveys in the areas of nonlinear modelling, labour economics and the economic analysis of exchange. This collection of articles consists largely of recently published refereed papers. The early chapters provide an introduction to the analysis of 'chaos and strange attractors' and the use of the very flexible generalised exponential family of frequency distributions in analysing both time series and cross-sectional distributions. The volume then provides syntheses of the theories of internal labour markets, trade union bargaining, and population ageing and its implications. It goes on to survey a range of topics in the broad area of the theory of exchange, which is central to the neoclassical economic model. Finally, the book provides some advice for students who are about to start their first piece of research. It ends with a unique survey of the history of economic analysis. Providing introductory material and syntheses of a wide range of topics, Nonlinear Models, Labour Markets and Exchange will be welcomed by economics academics and researchers interested in labour economics and econometrics.
Nonlinear Labor Market Dynamics
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Author : Michael Neugart
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Nonlinear Labor Market Dynamics written by Michael Neugart 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.
Nonlinear Labor Market Dynamics discusses adjustment processes in labor markets. Contrary to linear-stochastic approaches this book is based on a non-linear deterministic framework. It is shown that even textbook-like-models of the labor market can generate long lasting adjustment processes, local instabilities, and chaotic movements, once nonlinear relationships and widely accepted adjustment rules are introduced. Thus, labor market dynamics may have an endogenous component that is governed by a nonlinear deterministic core. Of course, all results are tied to the particular models discussed in this book. Nevertheless, these models imply that by incorporating nonlinear relationships, one may arrive at an explanation of labor market behavior where linear stochastic approaches fell. Time series studies for German labor market data support this point of view.
Recent Developments In Nonlinear Cointegration With Applications To Macroeconomics And Finance
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Author : Gilles Dufrénot
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Recent Developments In Nonlinear Cointegration With Applications To Macroeconomics And Finance written by Gilles Dufrénot 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.
This book is an introductory exposition of different topics that emerged in the literature as unifying themes between two fields of econometrics of time series, namely nonlinearity and nonstationarity. Papers on these topics have exploded over the last two decades, but they are rarely ex amined together. There is, undoubtedly, a variety of arguments that justify such a separation. But there are also good reasons that motivate their combination. People who are reluctant to a combined analysis might argue that nonlinearity and nonstationarity enhance non-trivial problems, so their combination does not stimulate interest in regard to plausibly increased difficulties. This argument can, however, be balanced by other ones of an economic nature. A predominant idea, today, is that a nonstationary series exhibits persistent deviations from its long-run components (either deterministic or stochastic trends). These persistent deviations are modelized in various ways: unit root models, fractionally integrated processes, models with shifts in the time trend, etc. However, there are many other behaviors inherent to nonstationary processes, that are not reflected in linear models. For instance, economic variables with mixture distributions, or processes that are state-dependent, undergo episodes of changing dynamics. In models with multiple long-run equi libria, the moving from an equilibrium to another sometimes implies hys teresis. Also, it is known that certain shocks can change the economic fundamentals, thereby reducing the possibility that an initial position is re-established after a shock (irreversibility).
Agent Based Modelling In Economics
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Author : Lynne Hamill
language : en
Publisher: John Wiley & Sons
Release Date : 2016-01-19
Agent Based Modelling In Economics written by Lynne Hamill 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 2016-01-19 with Social Science categories.
Agent-based modelling in economics Lynne Hamill and Nigel Gilbert, Centre for Research in Social Simulation (CRESS), University of Surrey, UK New methods of economic modelling have been sought as a result of the global economic downturn in 2008.This unique book highlights the benefits of an agent-based modelling (ABM) approach. It demonstrates how ABM can easily handle complexity: heterogeneous people, households and firms interacting dynamically. Unlike traditional methods, ABM does not require people or firms to optimise or economic systems to reach equilibrium. ABM offers a way to link micro foundations directly to the macro situation. Key features: Introduces the concept of agent-based modelling and shows how it differs from existing approaches. Provides a theoretical and methodological rationale for using ABM in economics, along with practical advice on how to design and create the models. Each chapter starts with a short summary of the relevant economic theory and then shows how to apply ABM. Explores both topics covered in basic economics textbooks and current important policy themes; unemployment, exchange rates, banking and environmental issues. Describes the models in pseudocode, enabling the reader to develop programs in their chosen language. Supported by a website featuring the NetLogo models described in the book. Agent-based Modelling in Economics provides students and researchers with the skills to design, implement, and analyze agent-based models. Third year undergraduate, master and doctoral students, faculty and professional economists will find this book an invaluable resource.
Asset Prices Booms And Recessions
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Author : Willi Semmler
language : en
Publisher: Springer Science & Business Media
Release Date : 2007-03-21
Asset Prices Booms And Recessions written by Willi Semmler 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 2007-03-21 with Business & Economics categories.
"Asset Prices, Booms and Recessions" is a book on Financial Economics from a dynamic perspective. It focuses on the dynamic interaction of financial markets and economic activity. The financial markets to be studied here encompasses the money and bond market, credit market, stock market and foreign exchange market. Economic activity is described by the activity of firms, banks, households, governments and countries. The book shows how economic activity affects asset prices and the financial market and how asset prices and financial market volatility feed back to economic activity. The focus in this book is on theories, dynamic models and empirical evidence. Empirical applications relate to episodes of financial instability and financial crises of the U.S., Latin American, Asian as well as Euro-area countries. The current version of the book has moved to a more extensive coverage of the topics in financial economics by updating the literature in the appropriate chapters. Moreover it gives a more extensive treatment of new and more advanced topics in financial economics such as international portfolio theory, multi-agent and evolutionary approaches, capital asset pricing beyond consumption-based models and dynamic portfolio decisions. Overall, the book presents material that researchers and practitioners in financial engineering need to know about economic dynamics and that economists, practitioners and policy makers need to know about the financial market.
Money Capital Mobility And Trade
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Author : Guillermo A. Calvo
language : en
Publisher: MIT Press
Release Date : 2004
Money Capital Mobility And Trade written by Guillermo A. Calvo and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.
Essays by leading economists and scholars reflecting on Mundell's broad influence on modern open-economy macroeconomics.
World Economic Outlook April 2007
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2006-09-19
World Economic Outlook April 2007 written by International Monetary Fund. Research Dept. 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 2006-09-19 with Business & Economics categories.
The IMF’s World Economic Outlook is packed with country specific facts, figures, and worldwide projections that present the outlook for growth, inflation, trade, and other economic developments in a clear, practical format. Leading international economists pull together the latest data on key topics, producing informed projections and policy analyses that show where the global economy is headed in the years to come. Business executives, policymakers, bankers, investors, marketing strategists, and economists worldwide refer to the WEO with confidence because it delivers a balanced view of the current economic situation, built upon the respected and extensive macroeconomic expertise and statistical resources of the IMF. The WEO is the product of a unique international exercise in information gathering and analysis performed by over 1,000 economists on the IMF staff. An annual subscription to the World Economic Outlook, published at least twice a year in English, French, Spanish, and Arabic, offers a comprehensive assessment of the international economic situation as well as prospects for the future. With its analyses backed by the expertise and unparalleled resources of the IMF, the World Economic Outlook is the authoritative reference in its field. Today, when even small economic fluctuations can trigger major financial swings, the WEO supplies a solid source of actionable information and data.
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.
Nonlinear Economic Models
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Author : John Creedy
language : en
Publisher: Edward Elgar Publishing
Release Date : 1997
Nonlinear Economic Models written by John Creedy 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 1997 with Business & Economics categories.
The book provides valuable introductory material that is accessible to students and scholars interested in this exciting research area, as well as presenting the results of new and original research. Nonlinear Economic Models provides a sequel to Chaos and Nonlinear Models by the same editors.
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 Social 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.