The Global Stability of Efficient Intertemporal Allocations
| Author | : Epstein, Larry G |
| Publisher | : |
| Total Pages | : 43 |
| Release | : 1985 |
| Genre | : Economics, Mathematical |
| ISBN | : |
The Global Stability Of Efficient Intertemporal Allocations
Download The Global Stability Of Efficient Intertemporal Allocations full books in PDF, epub, and Kindle. Read online free The Global Stability Of Efficient Intertemporal Allocations ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Efficient Intertemporal Allocations with Recursive Utility
| Author | : Bernard Dumas |
| Publisher | : |
| Total Pages | : 46 |
| Release | : 1999 |
| Genre | : Resource allocation |
| ISBN | : |
In this article, our objective is to determine efficient allocations in economies with multiple agents having recursive utility functions. Our main result is to show that in a multiagent economy, the problem of determining efficient allocations can be characterized in terms of a single value function (that of a social planner), rather than multiple functions (one for each investor), as has been proposed thus far (Duffie, Geoffard and Skiadas (1994)). We then show how the single value function can be identified using the familiar technique of stochastic dynamic programming. We achieve these goals by first extending to a stochastic environment Geoffard's (1996) concept of variational utility and his result that variational utility is equivalent to recursive utility, and then using these results to characterize allocations in a multiagent setting.
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.
Nonlinear Dynamics in Equilibrium Models
| Author | : John Stachurski |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 454 |
| Release | : 2012-01-25 |
| Genre | : Business & Economics |
| ISBN | : 3642223974 |
Optimal growth theory studies the problem of efficient resource allocation over time, a fundamental concern of economic research. Since the 1970s, the techniques of nonlinear dynamical systems have become a vital tool in optimal growth theory, illuminating dynamics and demonstrating the possibility of endogenous economic fluctuations. Kazuo Nishimura's seminal contributions on business cycles, chaotic equilibria and indeterminacy have been central to this development, transforming our understanding of economic growth, cycles, and the relationship between them. The subjects of Kazuo's analysis remain of fundamental importance to modern economic theory. This book collects his major contributions in a single volume. Kazuo Nishimura has been recognized for his contributions to economic theory on many occasions, being elected fellow of the Econometric Society and serving as an editor of several major journals. Chapter “Introduction” is available open access under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License via link.springer.com.
The Structure of Applied General Equilibrium Models
| Author | : Victor Ginsburgh |
| Publisher | : MIT Press |
| Total Pages | : 580 |
| Release | : 2002 |
| Genre | : Business & Economics |
| ISBN | : 9780262571579 |
Bridges the gap between applied and theoretical general equilibrium models.
Forward-Backward Stochastic Differential Equations and their Applications
| Author | : Jin Ma |
| Publisher | : Springer |
| Total Pages | : 285 |
| Release | : 2007-04-24 |
| Genre | : Mathematics |
| ISBN | : 3540488316 |
This volume is a survey/monograph on the recently developed theory of forward-backward stochastic differential equations (FBSDEs). Basic techniques such as the method of optimal control, the 'Four Step Scheme', and the method of continuation are presented in full. Related topics such as backward stochastic PDEs and many applications of FBSDEs are also discussed in detail. The volume is suitable for readers with basic knowledge of stochastic differential equations, and some exposure to the stochastic control theory and PDEs. It can be used for researchers and/or senior graduate students in the areas of probability, control theory, mathematical finance, and other related fields.
Essays on Piero Sraffa
| Author | : Krishna Bharadwaj |
| Publisher | : Routledge |
| Total Pages | : 628 |
| Release | : 2017-02-03 |
| Genre | : Business & Economics |
| ISBN | : 1315386925 |
The papers collected in this book, first published in 1990, represent the edited proceedings of a conference held to celebrate the 25th anniversary of the publication of Piero Sraffa’s Production of Commodities by Means of Commodities. In arranging the conference, and subsequently during the editing of the papers, great care has been taken to invite scholars of different schools of thought to contribute. The result of this collection of ideas has resulted in a most promising critique and provides an extensive alternative to modern Neo-Classical theory, of interest to all students of economic thought.
General Equilibrium
| Author | : Frank Hahn |
| Publisher | : Routledge |
| Total Pages | : 398 |
| Release | : 2003-09-02 |
| Genre | : Business & Economics |
| ISBN | : 1134433611 |
In recent years certain leading figures in the world of economics have called the usefulness of general equilibrium theory into question. This superb new book brings together leading economic theorists with important contributions to the ongoing debate. General equilibrium theorists including Michio Morishima, Michael Magill and Martine Quinzii debate strengths, weaknesses and possible futures with leading thinkers such as Herb Gintis, Pierangelo Garegnani and Duncan Foley, who seek to explain the rejection of general equilibrium. Uniquely, none of the contributors portray general equilibrium theory as the perfect guide to market economies actual behaviour, but rather illustrate that there is insufficient acquaintance with existing alternatives and that general equilibrium theory is often used as an ideal 'benchmark'.
Applied General Equilibrium Modelling
| Author | : Henk Don |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 192 |
| Release | : 2013-04-17 |
| Genre | : Business & Economics |
| ISBN | : 9401579083 |
Over the last decade or so, applied general equilibrium models have rapidly become a major tool for policy advice on issues regarding allocation and efficiency, most notably taxes and tariffs. This reflects the power of the general equilibrium approach to allocative questions and the capability of today's applied models to come up with realistic answers. However, it by no means implies that the theoretical, practical and empirical problems faced by researchers in applied modelling have all been solved in a satisfactory way. Rather, a promising field of research has been opened up, inviting theorists and practitioners to further explore and exploit its potential. The state of the art in applied general equilibrium modelling is reflected in this volume. The introductory Chapter (Part I) evaluates the use of economic modelling to address policy questions, and discusses the advantages and disadvantages of applied general equilibrium models. Three substantive issues are dealt with in Chapters 2-8: Tax Reform and Capital (Part II), Intertemporal Aspects and Expectations (Part III), and Taxes and the Labour Market (Part IV). While all parts contain results relevant for economic policy, it is clear that theory and applications for these areas are in different stages of development. We hope that this book will bring inspiration, insight and information to researchers, students and policy advisors.
