Optimal Control, Expectations and Uncertainty

Optimal Control, Expectations and Uncertainty

Author: Sean Holly

Publisher: Cambridge University Press

Published: 1989-07-20

Total Pages: 258

ISBN-13: 0521264448

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An examination of how the rational expectations revolution and game theory have enhanced the understanding of how an economy functions.


Handbook of Monetary Economics vols 3A+3B Set

Handbook of Monetary Economics vols 3A+3B Set

Author: Benjamin M. Friedman

Publisher: Elsevier

Published: 2010-11-10

Total Pages: 1729

ISBN-13: 0444534717

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How have monetary policies matured during the last decade? The recent downturn in economies worldwide have put monetary policies in a new spotlight. In addition to their investigations of new tools, models, and assumptions, they look carefully at recent evidence on subjects as varied as price-setting, inflation persistence, the private sector's formation of inflation expectations, and the monetary policy transmission mechanism. They also reexamine standard presumptions about the rationality of asset markets and other fundamentals. Stopping short of advocating conclusions about the ideal conduct of policy, the authors focus instead on analytical methods and the changing interactions among the ingredients and properties that inform monetary models. The influences between economic performance and monetary policy regimes can be both grand and muted, and this volume clarifies the present state of this continually evolving relationship. - Presents extensive coverage of monetary policy theories with an eye toward questions raised by the recent financial crisis - Explores the policies and practices used in formulating and transmitting monetary policies - Questions fiscal-monetary connnections and encourages new thinking about the business cycle itself - Observes changes in the formulation of monetary policies over the last 25 years


Temporary Equilibrium and Long-Run Equilibrium (Routledge Revivals)

Temporary Equilibrium and Long-Run Equilibrium (Routledge Revivals)

Author: Willem H. Buiter

Publisher: Routledge

Published: 2014-06-27

Total Pages: 230

ISBN-13: 1317703359

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This title, first published in 1979, presents the Ph.D. thesis of the world-renowned economist and financial expert, Willem Buiter. In Part I, three alternative specifications of temporary equilibria in asset markets, including their implications for macroeconomic models, are discussed; Part II examines the long-term implications of some short-term macroeconomic models. The analysis of the theoretical foundations of ‘direct crowding out’ and ‘indirect crowding out’ is particularly prominent, with the result that a synthesis of short-term macroeconomic analysis and long-term growth theory is formulated. The traditional tools of comparative dynamics and stability analysis are employed frequently. However, it is also argued that the true scope of government policy can only be adequately evaluated with the aid of concepts such as dynamic and static controllability. Temporary Equilibrium and Long-Run Equilibrium is a valuable study, and relevant for all serious students of modern economic theory.


Optimal Monetary Policy under Uncertainty, Second Edition

Optimal Monetary Policy under Uncertainty, Second Edition

Author: Richard T. Froyen

Publisher: Edward Elgar Publishing

Published: 2019

Total Pages: 432

ISBN-13: 1784717193

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This book provides a thorough survey of the model-based literature on optimal monetary in a stochastic setting. The survey begins with the literature of the 1970s which focused on the information problem in policy design and extends to the New Keynesian approach of the 1990s which centered on evaluating alternative targeting strategies. New to the second edition is consideration of research since the world financial crisis on the role of financial markets and institutions in the conduct of monetary policy.


Computational Economics

Computational Economics

Author: David A. Kendrick

Publisher: Princeton University Press

Published: 2006

Total Pages: 450

ISBN-13: 069112549X

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The ability to conceptualize an economic problem verbally, to formulate it as a mathematical model, and then represent the mathematics in software so that the model can be solved on a computer is a crucial skill for economists. Computational Economics contains well-known models--and some brand-new ones--designed to help students move from verbal to mathematical to computational representations in economic modeling. The authors' focus, however, is not just on solving the models, but also on developing the ability to modify them to reflect one's interest and point of view. The result is a book that enables students to be creative in developing models that are relevant to the economic problems of their times. Unlike other computational economics textbooks, this book is organized around economic topics, among them macroeconomics, microeconomics, and finance. The authors employ various software systems--including MATLAB, Mathematica, GAMS, the nonlinear programming solver in Excel, and the database systems in Access--to enable students to use the most advantageous system. The book progresses from relatively simple models to more complex ones, and includes appendices on the ins and outs of running each program. The book is intended for use by advanced undergraduates and professional economists and even, as a first exposure to computational economics, by graduate students. Organized by economic topics Progresses from simple to more complex models Includes instructions on numerous software systems Encourages customization and creativity


Proceedings of the Sixteenth International Conference on Management Science and Engineering Management – Volume 2

Proceedings of the Sixteenth International Conference on Management Science and Engineering Management – Volume 2

Author: Jiuping Xu

Publisher: Springer Nature

Published: 2022-07-13

Total Pages: 840

ISBN-13: 3031103858

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This book covers many hot topics, including theoretical and practical research in many areas such as dynamic analysis, machine learning, supply chain management, operations management, environmental management, uncertainty, and health and hygiene. It showcases advanced management concepts and innovative ideas. The 16th International Conference on Management Science and Engineering Management (2022 ICMSEM) will be held in Ankara, Turkey during August 3-6, 2022. ICMSEM has always been committed to promoting innovation management science (M-S) and engineering management (EM) academic research and development. The book provides researchers and practitioners in the field of Management Science and Engineering Management (MSEM) with the latest, cutting-edge thinking and research in the field. It will appeal to readers interested in these fields, especially those looking for new ideas and research directions.


Cybernetics And Systems '94 - Proceedings Of The 12th European Meeting On Cybernetics And Systems Research (In 2 Volumes)

Cybernetics And Systems '94 - Proceedings Of The 12th European Meeting On Cybernetics And Systems Research (In 2 Volumes)

Author: Robert Trappl

Publisher: World Scientific

Published: 1994-03-15

Total Pages: 1964

ISBN-13: 9814550949

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The papers in this volume reflect the most recent research findings in cybernetics and systems research. They were selected from 298 draft final papers which were submitted to the conference by authors from more than 30 different countries from five continents.