The Analysis of Linear Economic Systems

The Analysis of Linear Economic Systems
Author: Christian Bidard
Publisher: Routledge
Total Pages: 289
Release: 2020-11-25
Genre: Business & Economics
ISBN: 1000155080

Maurice Potron (1872-1942), a French Jesuit mathematician, constructed and analyzed a highly original, but virtually unknown economic model. This book presents translated versions of all his economic writings, preceded by a long introduction which sketches his life and environment based on extensive archival research and family documents. Potron had no education in economics and almost no contact with the economists of his time. His primary source of inspiration was the social doctrine of the Church, which had been updated at the end of the nineteenth century. Faced with the ‘economic evils’ of his time, he reacted by utilizing his talents as a mathematician and an engineer to invent and formalize a general disaggregated model in which production, employment, prices and wages are the main unknowns. He introduced four basic principles or normative conditions (‘sufficient production’, the ‘right to rest’, ‘justice in exchange’, and the ‘right to live’) to define satisfactory regimes of production and labour on the one hand, and of prices and wages on the other. He studied the conditions for the existence of these regimes, both on the quantity side and the value side, and he explored the way to implement them. This book makes it clear that Potron was the first author to develop a full input-output model, to use the Perron-Frobenius theorem in economics, to state a duality result, and to formulate the Hawkins-Simon condition. These are all techniques which now belong to the standard toolkit of economists. This book will be of interest to Economics postgraduate students and researchers, and will be essential reading for courses dealing with the history of mathematical economics in general, and linear production theory in particular.

Nonlinear Dynamical Economics and Chaotic Motion

Nonlinear Dynamical Economics and Chaotic Motion
Author: Hans-Walter Lorenz
Publisher: Springer Science & Business Media
Total Pages: 330
Release: 2012-12-06
Genre: Business & Economics
ISBN: 3642783244

Usually, the first edition of a book still contains a multiplicity of typographic, con ceptional, and computational errors even if one believes the opposite at the time of publication. As this book did not represent a counterexample to this rule, the current second edition offers a chance to remove at least the known shortcomings. The book has been partly re-organized. The previously rather long Chapter 4 has been split into two separate chapters dealing with discrete-time and continuous time approaches to nonlinear economic dynamics. The short summary of basic properties of linear dynamical systems has been banned to an appendix because the line of thought in the chapter seems to have been unnecessarily interrupted by these technical details and because the book concentrates on nonlinear systems. This appendix, which mainly deals with special formal properties of dynamical sys tems, also contains some new material on invariant subspaces and center-manifold reductions. A brief introduction into the theory of lags and operators is followed by a few remarks on the relation between the 'true' properties of dynamical systems and their behavior observable in numerical experiments. Additional changes in the main part of the book include a re-consideration of Popper's determinism vs. inde terminism discussion in the light of chaotic properties of deterministic, nonlinear systems in Chapter 1. An investigation of a simultaneous price-quantity adjustment process, a more detailed inquiry into the uniqueness property of limit cycles, and a short presentation of relaxation oscillations are included in Chapter 2.

Joan Robinson and Modern Economic Theory

Joan Robinson and Modern Economic Theory
Author: George R. Feiwel
Publisher: Springer
Total Pages: 985
Release: 1989-06-18
Genre: Business & Economics
ISBN: 1349086339

This and its companion volume, "The Economics of Imperfect Competition and Employment", are about Joan Robinson, her impact on modern economics, her challenges and critiques and the advances made in the science and art of economics.

Business Cycles and Depressions

Business Cycles and Depressions
Author: David Glasner
Publisher: Routledge
Total Pages: 796
Release: 2013-12-16
Genre: Business & Economics
ISBN: 1136545204

Experts define, review, and evaluate economic fluctuations Economic and business uncertainty dominate today's economic analyses. This new Encyclopedia illuminates the subject by offering 323 original articles on every major aspect of business cycles, fluctuations, financial crises, recessions, and depressions. The work of more than 200 experts, including many of the leading researchers in the field, the articles cover a broad range of subjects, including capsule biographies of leading economists born before 1920. Individual entries explore banking panics, the cobweb cycle, consumer durables, the depression of 1937-1938, Otto Eckstein, Friedrich Engels, experimental price bubbles, forced savings, lass-Steagall Act, Friedrich hagen, qualitative indicators, use of macro-econometric models, monetary neutrality, Phillips Curve, Paul Samuelson, Say's law, supply-side recessions, James Tokin, trend and random wages, Thorstein Veblen, worker-job turnover, and more.

Topics in Classical Micro- and Macroeconomics

Topics in Classical Micro- and Macroeconomics
Author: Peter Flaschel
Publisher: Springer Science & Business Media
Total Pages: 517
Release: 2010-03-14
Genre: Business & Economics
ISBN: 3642003249

This book on Classical micro- and macrodynamics includes revised versions of papers which were written between 1983 and 2000, some jointly with co-authors, and it supplements them with recent work on the issues which are raised and treated in them. It attempts to demonstrate to the reader that themes of Classical economics, in particular in the tradition of Smith, Ricardo and Marx, can be synthesized into a coherent whole, from the perspective of formal model building. This is accomplished by means of mathematical techniques which, on the one hand, provide a consistent accounting framework (labor values and prices of p- duction) as point of reference for Classical micro- and macro-dynamics and which, on the other hand, attempt to apply these accounting schemes – or suitable ext- sions of them – by showing their usefulness as tools of analysis of the implications of technological change (labor values) and as potential tools for understanding the dynamics of market prices and of income distribution around their centers of gravity (production prices and the wage-pro?t curve).

Dynamic Macroeconomics

Dynamic Macroeconomics
Author: Peter Flaschel
Publisher: MIT Press
Total Pages: 484
Release: 1997
Genre: Business & Economics
ISBN: 9780262061919

An attempt to revitalize the traditions of nonmarket clearing approaches to macroeconomics. Using tools from dynamic analysis, the text introduces a consistent, integrated framework for disequilibrium macroeconomic dynamics and explore its relationship to the competing equilibrium dynamics.

A Theory of Wealth Distribution and Accumulation

A Theory of Wealth Distribution and Accumulation
Author: Mauro Baranzini
Publisher: Oxford University Press
Total Pages: 296
Release: 1991
Genre: Business & Economics
ISBN: 9780198233138

This volume provides a general framework for a macroeconomic theory of income distribution and wealth distribution and accumulation. The book is divided into two parts. In the first the author surveys the sets of literature on the subject and relates them to each other. In the second part he makes his own contribution by presenting a new model which uses both neo-classical and post-Keynesian analytical tools. The author focuses on the laws which regulate the behavior of individuals and social groups within a given institutional set-up, and in particular those which regulate the accumulation of inter-generational wealth and life-cycle savings of families or dynasties, both in a deterministic and stochastic context. The theoretical issue of savings accumulation is reconsidered, alongside income distribution, and profit determination by concentrating on the historical reasons that are at the basis of "class distinction," as well as "generation distinction," in modern economic analysis.

Beyond the Steady State

Beyond the Steady State
Author: Joseph Halevi
Publisher: Springer
Total Pages: 376
Release: 1992-06-18
Genre: Political Science
ISBN: 1349109509

The essays in this book seek to identify the mechanisms that determine the extent and nature of economic growth. The subject is addressed under four headings: demand-determined growth, technical change, traverse and growth cycles.

International Economics Two

International Economics Two
Author: Giancarlo Gandolfo
Publisher: Springer Science & Business Media
Total Pages: 588
Release: 1995-05-22
Genre: Business & Economics
ISBN: 9783540586876

This second volume covers all the conventional topics of international monetary theory and open-economy macroeconomics, and a lot more besides. Gandolfo treats such further concepts as the theory of monetary integration and the European monetary union, foreign exchange crises and the Tobin tax, theory of games and international policy coordination. It follows the "two-tier" structure of the first volume, and, thanks to its self-contained treatment, may equally be used as a reference book.