Quantitative And Empirical Analysis Of Nonlinear Dynamic Macromodels


Quantitative And Empirical Analysis Of Nonlinear Dynamic Macromodels
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Quantitative And Empirical Analysis Of Nonlinear Dynamic Macromodels


Quantitative And Empirical Analysis Of Nonlinear Dynamic Macromodels
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Author : Carl Chiarella
language : en
Publisher: Emerald Group Publishing
Release Date : 2006-05-30

Quantitative And Empirical Analysis Of Nonlinear Dynamic Macromodels written by Carl Chiarella and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-05-30 with Business & Economics categories.


This book represents an ongoing research agenda the aim of which is to contribute to the Keynesian paradigm in macroeconomics. It examines the Dynamic General Equilibrium (DGE) model, the assumption of intertemporal optimizing behavior of economic agents, competitive markets and price mediated market clearing through flexible wages and prices.



Reconstructing Keynesian Macroeconomics Volume 1


Reconstructing Keynesian Macroeconomics Volume 1
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Author : Carl Chiarella
language : en
Publisher: Routledge
Release Date : 2012-03-29

Reconstructing Keynesian Macroeconomics Volume 1 written by Carl Chiarella 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.


This book represents the first of three volumes offering a complete reinterpretation and restructuring of Keynesian macroeconomics and a detailed investigation of the disequilibrium adjustment processes characterizing the financial, the goods and the labour markets and their interaction. It questions in a radical way the evolution of Keynesian macroeconomics after World War II and focuses on the limitations of the traditional Keynesian approach until it fell apart in the early 1970s, as well as the inadequacy of the new consensus in macroeconomics that emerged from the Monetarist critique of Keynesianism. Professors Chiarella, Flaschel and Semmler investigate basic methodological issues, the pitfalls of the Rational Expectations School, important feedback channels in the tradition of Tobin’s work, and theories of the wage-price spiral and the evidences for them. The book uses primarily partial approaches, the integration of which will be the subject of subsequent volumes. With its focus on Keynesian propagation mechanisms, the research in this book provides a unique alternative to the black-box shock-absorber approaches that dominate modern macroeconomics. Reconstructing Keynesian Macroeconomics should be of interest to students and researchers who want to look at alternatives to the mainstream macrodynamics that emerged from the Monetarist critique of Keynesianism.



Mathematical Economics And The Dynamics Of Capitalism


Mathematical Economics And The Dynamics Of Capitalism
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Author : Peter Flaschel
language : en
Publisher: Routledge
Release Date : 2016-04-01

Mathematical Economics And The Dynamics Of Capitalism written by Peter Flaschel and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-01 with Business & Economics categories.


Richard Goodwin was a pioneer in the use of mathematical tools to understand the dynamics of capitalist economies. This book contains contributions which focus on the rigorous extension of Goodwin’s modelling of macro-dynamics and the micro-structures underlying them, and also research with a wider perspective related to Goodwin’s vision of an integrated Marx-Keynes-Schumpeter (M-K-S) system of the dynamics of capitalist economies. The variety of approaches in this book range from detailed business cycle analyses to Schumpeterian processes of creative destruction. They include thorough theoretical analysis of delayed dynamical systems. empirical studies of Goodwin’s classical growth cycle model and the integration of Keynesian aspects of effective demand and of financial mechanisms that impact the real macro-economy. micro-economic structural analysis. expectations driven aspects of micro-founded business cycle modelling



Monetary Macrodynamics


Monetary Macrodynamics
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Author : Toichiro Asada
language : en
Publisher: Routledge
Release Date : 2012-11-12

Monetary Macrodynamics written by Toichiro Asada and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-12 with Business & Economics categories.


This book investigates the interaction of effective goods demand with the wage-price spiral, and the impact of monetary policy on financial and the real markets from a Keynesian perspective. Endogenous business fluctuations are studied in the context of long-run distributive cycles in an advanced, rigorously formulated and quantitative setup. The material is developed by way of self-contained chapters on three levels of generality, an advanced textbook level, a research-oriented applied level and on a third level that shows how the interaction of real with financial markets has to be modelled from a truly integrative Keynesian perspective. Monetary Macrodynamics shows that the balanced growth path of a capitalist economy is unlikely to be attracting and that the cumulative forces that surround it are controlled in the large by changes in the behavioural factors that drive the wage-price spiral and the financial markets. Such behavioural changes can in fact be observed in actual economies in the interaction of demand-driven business fluctuations with supply-driven wage and price dynamics as they originate from the conflict over income distribution between capital and labour. The book is a detailed critique of US mainstream macroeconomics and uses rigorous dynamic macro-models of a descriptive and applicable nature. It will be of particular relevance to postgraduate students and researchers interested in disequilibrium processes, real wage feedback channels, financial markets and portfolio choice, financial accelerator mechanisms and monetary policy.



Topics In Applied Macrodynamic Theory


Topics In Applied Macrodynamic Theory
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Author : Peter Flaschel
language : en
Publisher: Springer Science & Business Media
Release Date : 2008-07-03

Topics In Applied Macrodynamic Theory written by Peter Flaschel 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 2008-07-03 with Business & Economics categories.


This insightful book presents topics in applied dynamic macrotheory for closed and open economies. The authors give an advanced treatment of macroeconomic topics such as the Phillips curve, forward and backward looking behavior, open economy macrodynamics, structural macroeconometric model building as well as the empirics of Keynesian oriented macro models. The dynamics of open economies in the context of interacting two country models are treated as well.



Nonlinear Economic Dynamics And Financial Modelling


Nonlinear Economic Dynamics And Financial Modelling
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Author : Roberto Dieci
language : en
Publisher: Springer
Release Date : 2014-07-26

Nonlinear Economic Dynamics And Financial Modelling written by Roberto Dieci and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-07-26 with Business & Economics categories.


This book reflects the state of the art on nonlinear economic dynamics, financial market modelling and quantitative finance. It contains eighteen papers with topics ranging from disequilibrium macroeconomics, monetary dynamics, monopoly, financial market and limit order market models with boundedly rational heterogeneous agents to estimation, time series modelling and empirical analysis and from risk management of interest-rate products, futures price volatility and American option pricing with stochastic volatility to evaluation of risk and derivatives of electricity market. The book illustrates some of the most recent research tools in these areas and will be of interest to economists working in economic dynamics and financial market modelling, to mathematicians who are interested in applying complexity theory to economics and finance and to market practitioners and researchers in quantitative finance interested in limit order, futures and electricity market modelling, derivative pricing and risk management.



Flexicurity Capitalism


Flexicurity Capitalism
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Author : Peter Flaschel
language : en
Publisher: OUP USA
Release Date : 2012-04-11

Flexicurity Capitalism written by Peter Flaschel and has been published by OUP USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-04-11 with Business & Economics categories.


Flaschel and Griener's Flexicurity Capitalism provides serious discussion and feasible mathematical models to provide a basic framework for a "flexicurity" economic system--labor market reform that combines flexibility in the hiring and firing processes of firms with security in the employment and income of the workforce.



Financial Assets Debt And Liquidity Crises


Financial Assets Debt And Liquidity Crises
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Author : Matthieu Charpe
language : en
Publisher: Cambridge University Press
Release Date : 2011-07-21

Financial Assets Debt And Liquidity Crises written by Matthieu Charpe 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 2011-07-21 with Business & Economics categories.


The macroeconomic development of most major industrial economies is characterised by boom-bust cycles. Normally such boom-bust cycles are driven by specific sectors of the economy. In the financial meltdown of the years 2007–9 it was the credit sector and the real-estate sector that were the main driving forces. This book takes on the challenge of interpreting and modelling this meltdown. In doing so it revives the traditional Keynesian approach to the financial-real economy interaction and the business cycle, extending it in several important ways. In particular, it adopts the Keynesian view of a hierarchy of markets and introduces a detailed financial sector into the traditional Keynesian framework. The approach of the book goes beyond the currently dominant paradigm based on the representative agent, market clearing and rational economic agents. Instead it proposes an economy populated with heterogeneous, rationally bounded agents attempting to cope with disequilibria in various markets.



Reconstructing Keynesian Macroeconomics Volume 2


Reconstructing Keynesian Macroeconomics Volume 2
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Author : Carl Chiarella
language : en
Publisher: Routledge
Release Date : 2013-01-17

Reconstructing Keynesian Macroeconomics Volume 2 written by Carl Chiarella and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-17 with Business & Economics categories.


This book represents the second of three volumes offering a complete reinterpretation and restructuring of Keynesian macroeconomics and a detailed investigation of the disequilibrium adjustment processes characterizing the financial, the goods and the labour markets and their interaction. In this second volume the authors present a detailed analysis and comparison of two competing types of approaches to Keynesian macroeconomics, one that integrates goods, labour and financial markets, and another from the perspective of a conventional type of LM-analysis or interest-rate policy of the central bank. The authors employ rigorous dynamic macro-models of a descriptive and applicable nature, which will be of interest to all macroeconomists who use formal model-building in their investigations. The research in this book with its focus on Keynesian propagation mechanisms provides a unique alternative to the black-box shock-absorber approaches that dominate modern macroeconomics. The main conclusion of the work is that policy makers need to reconsider Keynesian ideas, but in the modern form in which they are expressed in this volume. Reconstructing Keynesian Macroeconomics will be of interest to students and researchers who want to look at alternatives to the mainstream macrodynamics that emerged from the Monetarist critique of Keynesianism. This book will also engage central bankers and macroeconomic policy makers.



Keynes And Modern Economics


Keynes And Modern Economics
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Author : Ryuzo Kuroki
language : en
Publisher: Routledge
Release Date : 2012-08-21

Keynes And Modern Economics written by Ryuzo Kuroki and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-08-21 with Business & Economics categories.


It is a little over seventy years since John Maynard Keynes produced his magnum opus, The General Theory of Employment, Interest, and Money. Keynes' staggering achievement has been to remain relevant to economics and other disciplines even today and this book reflects that with an examination on his influence on modern economics. Leading economists from a variety of backgrounds, including Ed Nell and Heinz Kurz have joined forces in this volume with internationally respected Japanese scholars to produce a strong collection of contributions to the debate on Keynes' monumental legacy. This book will be vital reading for historians of economic thought, economic methodologists as well as those economists with an interest in the overall development of their discipline.