The Conflict Between Equilibrium and Disequilibrium Theories
Author: Richard E. Quandt
Publisher:
Published: 1988
Total Pages: 120
ISBN-13:
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Author: Richard E. Quandt
Publisher:
Published: 1988
Total Pages: 120
ISBN-13:
DOWNLOAD EBOOKAuthor: Carl Chiarella
Publisher: Springer Science & Business Media
Published: 2013-06-29
Total Pages: 487
ISBN-13: 3662040700
DOWNLOAD EBOOKIn 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.
Author: Mr.Bankim Chadha
Publisher: International Monetary Fund
Published: 1994-09-01
Total Pages: 38
ISBN-13: 1451853033
DOWNLOAD EBOOKThe IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
Author: David J. Smyth
Publisher:
Published: 1982
Total Pages: 10
ISBN-13:
DOWNLOAD EBOOKAuthor: Jean-Pascal Bénassy
Publisher:
Published: 1982
Total Pages: 272
ISBN-13:
DOWNLOAD EBOOKMicroeconomics; Market equilibrium and disequilib rium; Disequilibrium trading and quantity signals; Effective demand: A first approach; Effective demand and spillover effects; Price making; Non-Walrasian equilibrium concepts; The general framework; Fixprice equilibria; Expectations and temporary fixprice equilibria; Temporary equilibria with price makers; Efficiency; Macroeconomics; A model of unemployment; Unemployment and expectations; A model of unemployment with flexible price; A model of inflation.
Author: M. Itoh
Publisher: Taylor & Francis
Published: 2013-06-17
Total Pages: 111
ISBN-13: 1136454934
DOWNLOAD EBOOKTwo of Japan's leading economists - Motoshige Itoh and Takashi Negishi - look at trade models in a disequilibrium context.
Author: Charles van Marrewijk
Publisher: Ashgate Publishing
Published: 1993
Total Pages: 184
ISBN-13:
DOWNLOAD EBOOKStatic 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.
Author: Cyril Solomon
Publisher:
Published: 1993
Total Pages: 282
ISBN-13:
DOWNLOAD EBOOKAuthor: David H. Howard
Publisher:
Published: 1979
Total Pages: 170
ISBN-13:
DOWNLOAD EBOOKAuthor: Hans-Jürg Büttler
Publisher: Springer Science & Business Media
Published: 2013-03-08
Total Pages: 124
ISBN-13: 3642483402
DOWNLOAD EBOOKThis monograph grew out of a project which was sponsored by the Swiss National Foundation ("Schweizerischer Nationalfonds") under grant no. 4. 636-0. 83. 09. Yithin this project, prediction-oriented estimation methods for the canonical econometric disequilibrium model were developed. The present monograph deals with the application of these estimation techniques to three aggregative markets of the Swiss economy. Parts of the monograph have been presented at various places: the estimation techniques described in chapter 3 at the European Meeting of the Econometric Society, Madrid 1984; the application to residential investment described in chapter 4 at a symposium on housing policy at the University of Mannheim, 1984; the empirical study on the money stock described in chapter 5 at the Symposium on Money, Banking and Insurance held at the University of Karlsruhe, 1984, as well as at a joint seminar of the University of Basle and the Bank for International Settlements (BIS), 1985; and, finally, the empirical study on the aggregate labor market described in chapter 6 at a seminar of the University of ZUrich, 1985. Comments from toe seminar participants, in particular from Palle S. Andersen (BIS) who served as a discussant, Pascal Bridel (Swiss National Bank, SNB), Franz Ettlin (SNB), and Kurt Schiltknecht (Nordfinanz-Bank, Zurich) are gratefully acknowledged, without implying any responsibility on their part. The methodological part described in chapters 2 and 3 is contributed by G. Frei and B.