Economic Dynamics and General Equilibrium

Name: Economic Dynamics and General Equilibrium
Brand: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
SKU: 9783540002659
Price: 48.94 EUR
Availability: InStock

Time and Uncertainty

Autor: Anders Borglin

Jazyk:

Väzba: Pevná

Vydavateľ: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG

Dostupnosť: Skladom u dodávateľa

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The developments in economic theory in the 1950s served to pinpoint important underlying assumptions...

Informácie o knihe

Autor

Anders Borglin

Jazyk

Angličtina

Väzba

Kniha - Pevná

Vydalo

2003

Stránok

396

EAN

9783540002659

ISBN

3540002650

Enbook ID

05273454

Vydavateľ

Springer-Verlag Berlin and Heidelberg GmbH & Co. KG

Hmotnosť

740

Rozmery

155 x 235 x 28

Kompletný popis

The developments in economic theory in the 1950s served to pinpoint important underlying assumptions in the study of market institutions. The conflict between observed institutions - spot markets for commodities, financial markets - and the benchmark interpretation - forward markets for commodities, allowing all trade to take place at a single point in time, became apparent. This led to the introduction of new equilibrium concepts; temporary equilibria, spot-market equilibria and monetary equilibria. The emphasis was on the possibilities to transfer purchasing power over time or over states using spot markets involving assets or money. This book focuses on the developments in the theory of incomplete markets and overlapping generations economies where income transfers over time or across states are restricted either by available assets or by the infeasibility of contracts with unborn generations. It bridges the gap between standard textbooks on microeconomics and more advanced expositions. TOC:Time and Uncertainty in General Equilibrium Theory: Consumers and Economies - A Review.- Economies over Time.- Assets and Income Transfers.- Economies with Uncertainty.- Existence and Determinacy.- Optimality and Incomplete Markets. Overlapping Generations Economies: Overlapping Generations Economies.- Optimality in OG Economies.- Stationary OG Economies.- Global Dynamics.- Fluctuations.- Conclusions and Suggestions for Further Reading.- Appendix: Some Calculus Results; Quadratic Forms and Bordered Matrices; Separation Theorem and Farkas' Lemma; Dynamical Systems.

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Economic Dynamics and General Equilibrium

Time and Uncertainty

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