Topological Methods in Walrasian Economics
Topological Methods in Walrasian Economics

Author: E. Dierker

Publisher: Springer

Published: 1974-02-15

Total Pages: 152

ISBN-13:

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The economic framework; Introduction to the mathematics; Differentiable manifolds and mapping, tangents, vectorfields; Regular equilibria. A first approach; Scarf's example; Excess demand functions; Debreu's theorem on the finiteness of the number of equilibria of an economy; Continuity of the Walras correspondence for demand functions; Density of transversal intersection; Regular economies; Stability questions and the number of equilibria; Large economies; Some standard notation.

Léon Walras: Elements of Theoretical Economics
Léon Walras: Elements of Theoretical Economics

Author: Léon Walras

Publisher: Cambridge University Press

Published: 2014-10-23

Total Pages: 591

ISBN-13: 1316061728

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In his fourth edition of Éléménts d'économie politique pure (1900), León Walras introduced the device of written pledges to eliminate path dependency: sellers of products and services write out commitments to supply certain quantities at suggested prices with no commodities actually produced and supplied until a set of prices is found at which supply and demand are equal simultaneously in every market. This brought about very serious alterations to the character of the book. Unfortunately, these changes resulted in an incomplete, internally contradictory, and occasionally incoherent text. This translation, therefore, by two leading scholars of León Walras' work, Donald A. Walker and Jan van Daal, revisits the third edition of this seminal work, including Walras' brilliant explanation of his comprehensive model, with all its richness derived from reality. Growing research into Walras' work indicates that it was this third edition that contained his best theoretical research and a translation of this edition of the book is now a necessity.

Walrasian Economics
Walrasian Economics

Author: Donald A. Walker

Publisher: Cambridge University Press

Published: 2006-01-16

Total Pages: 297

ISBN-13: 1139450913

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In order to understand the various strands of general equilibrium theory, why it has taken the forms that it has since the time of Léon Walras, and to appreciate fully a view of the state of general equilibrium theorising, it is essential to understand Walras's work and examine its influence. The first section of this book accordingly examines the foundations of Walras's work. These include his philosophical and methodological approach to economic modelling, his views on human nature, and the basic components of his general equilibrium models. The second section examines how the influence of his ideas has been manifested in the theorising of his successors, surveying the models of theorists such as H. L. Moore, Vilfredo Pareto, Knut Wicksell, Gustav Cassel, Abraham Wald, John von Neumann, J. R. Hicks, Kenneth Arrow, and Gerard Debreu. The treatment also examines models of many types in which Walras's influence is explicitly acknowledged.

The Equilibrium Economics of Leon Walras
The Equilibrium Economics of Leon Walras

Author: Albert Jolink

Publisher: Routledge

Published: 1993-09-02

Total Pages: 208

ISBN-13: 1134989148

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The authors examine Walras' general equilibrium models, tracing their development through his major work Elements of Pure Economics, and also placing them in the broader context of his design for optimal economic order.

Post Walrasian Macroeconomics
Post Walrasian Macroeconomics

Author: David Colander

Publisher: Cambridge University Press

Published: 2006-07-17

Total Pages: 33

ISBN-13: 1139459058

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Macroeconomics is evolving in an almost dialectic fashion. The latest evolution is the development of a new synthesis that combines insights of new classical, new Keynesian and real business cycle traditions into a dynamic, stochastic general equilibrium (DSGE) model that serves as a foundation for thinking about macro policy. That new synthesis has opened up the door to a new antithesis, which is being driven by advances in computing power and analytic techniques. This new synthesis is coalescing around developments in complexity theory, automated general to specific econometric modeling, agent-based models, and non-linear and statistical dynamical models. This book thus provides the reader with an introduction to what might be called a Post Walrasian research program that is developing as the antithesis of the Walrasian DSGE synthesis.

Elements of Pure Economics
Elements of Pure Economics

Author: Léon Walras

Publisher: Routledge

Published: 2013-10-16

Total Pages: 630

ISBN-13: 113455995X

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Elements of Pure Economics was one of the most influential works in the history of economics, and the single most important contribution to the marginal revolution. Walras' theory of general equilibrium remains one of the cornerstones of economic theory more than 100 years after it was first published.

General Equilibrium Analysis
General Equilibrium Analysis

Author: Pascal Bridel

Publisher: Routledge

Published: 2013-03-01

Total Pages: 169

ISBN-13: 1136719822

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2010 marks the hundredth anniversary of the death of Léon Walras, the brilliant originator and first formaliser of general equilibrium theory – one of the pillars of modern economic theory. In advancing much derided practical solutions Walras also displayed more concern for the problems of living in a second best world than is common in modern pure theories of the invisible hand, efficient market hypothesis, DSGE macroeconomics or the thinking of some contemporary free market admirers all based on general equilibrium theory. This book brings contributions from the likes of Kenneth Arrow, Alan Kirman, Richard Posner, Amartya Sen and Robert Solow to share their thoughts and reflections on the theoretical heritage of Léon Walras. Some authors reminisce on the part they played in the development of modern general economics theory; others reflect on the crucial part played by general equilibrium in the development of macroeconomics, microeconomics, growth theory, welfare economics and the theory of justice; others still complain about the wrong path economic theory took under the influence of post 1945 developments in general equilibrium theory.

A History of Macroeconomics from Keynes to Lucas and Beyond
A History of Macroeconomics from Keynes to Lucas and Beyond

Author: Michel De Vroey

Publisher: Cambridge University Press

Published: 2016-01-08

Total Pages: 451

ISBN-13: 0521898439

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This book retraces the history of macroeconomics from Keynes's General Theory to the present. Central to it is the contrast between a Keynesian era and a Lucasian - or dynamic stochastic general equilibrium (DSGE) - era, each ruled by distinct methodological standards. In the Keynesian era, the book studies the following theories: Keynesian macroeconomics, monetarism, disequilibrium macro (Patinkin, Leijongufvud, and Clower) non-Walrasian equilibrium models, and first-generation new Keynesian models. Three stages are identified in the DSGE era: new classical macro (Lucas), RBC modelling, and second-generation new Keynesian modeling. The book also examines a few selected works aimed at presenting alternatives to Lucasian macro. While not eschewing analytical content, Michel De Vroey focuses on substantive assessments, and the models studied are presented in a pedagogical and vivid yet critical way.

An Introduction to General Equilibrium Analysis
An Introduction to General Equilibrium Analysis

Author: Anjan Mukherji

Publisher: Oxford University Press, USA

Published: 2002

Total Pages: 260

ISBN-13: 9780195659078

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This Book Provides A Thorough Introduction To General Equilibrium Analysis For Non-Specialist Students Filling The Gap Between The Classic High-Level Texts, And On The Other, The Very Limited Presentation Of The Theory In Terms Of Edgeworth Box Diagrams.

Beyond Microfoundations
Beyond Microfoundations

Author: David Colander

Publisher: Cambridge University Press

Published: 2006-12-14

Total Pages: 0

ISBN-13: 9780521034586

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Beyond Microfoundations discusses the foundations for a post-Walrasian macroeconomics and, in doing so, carries the work of Robert Clower and Axel Leijonhufvud to the present. This book spells out both why a new approach to macro is needed, and what the essence of the approach will be. This post-Walrasian approach to macro is neither Keynesian nor Classical, both of which have Walrasian foundations, but it offers an approach to macro in which Walrasian economics is turned on its head. Specifically, it rejects the Walrasian ad hoc assumptions of the existence of a unique equilibrium and of simple dynamics.