Download or read book Continua of Underemployment Equilibria Reflecting Coordination Failures Also at Walrasian Prices written by and published by . This book was released on 2001 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Continua of Underemployment Equilibria written by P. Jean-Jacques Herings and published by . This book was released on 1998 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Continua of Underemployment Equilibria Reflecting Coordination Failures Also at Walrasian Prices written by and published by . This book was released on 2001 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Multiple Unemployment Equilibria Under Non representative Agent Demand written by Arthur J. Chiang and published by Stanford University. This book was released on 2011 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation analyzes the possibility that high unemployment can be be self-reinforcing through its effects on the distribution of income and, consequently, aggregate demand. The major results of my work demonstrate that these forces can lead to multiple macroeconomic equilibria which are indexed by the level of unemployment. By characterizing low output and employment states as equilibrium outcomes, this thesis provides a coherent theoretical explanation for periods of persistently high unemployment. The key property throughout is non-homotheticity of consumers' preferences, whereby the market demand for goods changes as income distribution changes, even if the total income of all consumers remains fixed. This implies that, unlike in many macroeconomic models, demand cannot be generated from a representative agent and, crucially, that changes in employment along the extensive, as opposed to intensive, margin can have more severe general equilibrium consequences.

Download or read book Equilibria with Unemployment in Segmented Labor Markets written by Mr.Dimitri G. Demekas and published by International Monetary Fund. This book was released on 1990-04-01 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper proves four theorems in an n-sector model of a segmented labor market, with search costs, and a continuum of workers with different reservation wages, who can apply to any number of sectors. The main conclusions are that: (i) an equilibrium with unemployment always exists; and (ii) some of the unemployment is involuntary, in the sense that it consists of workers with reservation wages below the equilibrium wage in the secondary market. These conclusions hold in the case of both separate and non-separate markets.

Download or read book Underemployment Equilibria written by Jacques H. Drèze and published by Cambridge University Press. This book was released on 1991 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 1991 book is a selection of Jacques Drèze's work over the last decade on the topics of lasting unemployment, stagflation and unused capacity. At the theoretical level, the author has contributed to the formulation and analysis of general equilibrium models which allow for price rigidities and excess supply and lend themselves to econometric implementation, thus represents an attempt to integrate micro- and macroeconomics, and to use theory for empirical and policy purposes.

Download or read book The New Macroeconomics written by Huw David Dixon and published by Cambridge University Press. This book was released on 1995-10-19 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brings together leading researchers from the USA and Europe to examine the literature on the new macroeconomics.

Download or read book The New Palgrave Dictionary of Economics written by and published by Springer. This book was released on 2016-05-18 with total page 7493 pages. Available in PDF, EPUB and Kindle. Book excerpt: The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.

Download or read book Advances in Macroeconomic Theory written by J. Drèze and published by Springer. This book was released on 2001-08-02 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading world scholars analyze a range of specific departures from general equilibrium theory which have significant implications for the macroeconomic analysis of both developed and developing economies. Jacques Drèze considers uncertainty and incomplete markets and Nobel Laureate Robert Solow relates growth theory to the macroeconomic framework. Other issues examined are the implications for macro-policy of new research, including Joseph Stiglitz's warning on the misplaced zeal for financial market liberalization which partly engendered the East Asian and Russian crises.

Download or read book Equilibria with Unemployment in Segmented Labor Markets written by Dimitri G. Demekas and published by . This book was released on 2006 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper proves four theorems in an n-sector model of a segmented labor market, with search costs, and a continuum of workers with different reservation wages, who can apply to any number of sectors. The main conclusions are that: (i) an equilibrium with unemployment always exists; and (ii) some of the unemployment is involuntary, in the sense that it consists of workers with reservation wages below the equilibrium wage in the secondary market. These conclusions hold in the case of both separate and non-separate markets.

Download or read book Walrasian Economics written by Donald A. Walker and published by Cambridge University Press. This book was released on 2006-01-16 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Economics of Imperfect Competition and Employment written by George R. Feiwel and published by Springer. This book was released on 1989-06-18 with total page 823 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study and its companion, "Joan Robinson and Economic Theory" looks at Joan Robinson, her impact upon modern economics, her challenges and critiques, and the advances made in the science and art of economics. It studies her ideas, themes and concerns from many different perspectives.

Download or read book Equilibrium Markets and Dynamics written by Cars H. Hommes and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains essays in honour of Claus Weddepohl who, after 22 years, is retiring as professor of mathematical economics at the Department of Quantitative Economics of the University of Amsterdam. Claus Weddepohl may be viewed as th~ first Dutch mathematical economist in the general equi librium tradition of Arrow, Debreu and Hahn. The essays in this book are centered around the themes Equilibrium, Markets and Dynamics, that have been at the heart of Weddepohl's work on mathematical economics for more than three decades. The essays have been classified according to these three themes. Admittedly such a classification always is somewhat arbitrary, and most essays would in fact fit into two or even all three themes. The essays have been written by international as well as Dutch friends and colleagues including Weddepohl's former Ph. D. students. The book starts with a review of Claus Weddepohl's work by Roald Ramer, who has been working with him in Amsterdam for all those years. The review describes how Weddepohl became fascinated by general equilibrium theory in the early stages of his career, how he has been working on the theory of markets throughout his career, and how he turned to applications of nonlinear dynamics to price adjustment processes in a later stage of his career. The first part of the book, Equilibrium, collects essays with general equilib rium theory as the main theme.

Download or read book Dynamic Macroeconomics with Imperfect Competition written by Leo Kaas and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis was stimulated throughout the time of my participation in a research project on Dynamic Macroeconomics, supported by the German Research Foundation (DFG). The starting point was the central question of how to integrate price setting firms in a dynamic disequilibrium model. Almost all recent literature on imperfect competition in macroeconomics applies the objective demand approach by assuming that firms know the true demand curve they are faced with. While this approach can be ap plied in temporary monetary equilibrium models, it proves inadequate for formulating price adjustment in a dynamic disequilibrium model, where it has to be replaced by the concept of subjective demand. Based on this distinction, the thesis starts out with a comparison of the concepts of subjective and objective demand in an abstract framework and surveys the literature on general equilibrium theory with imperfect competition. The objective demand approach is criticized not only on the grounds of its strong rationality requirements and existence problems, but also by the observation that it cannot be applied successfully to characterize determinate rational expectations equilibria in intertemporal macroeco nomics. Finally, price setting firms using subjective demand functions are integrated in a dynamic disequilibrium model in order to study mo nopolistic and oligopolistic price adjustment.

Download or read book Methodological Foundations of Macroeconomics written by Alessandro Vercelli and published by Cambridge University Press. This book was released on 1991-09-26 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an investigation of the methodological and epistemological foundations of macroeconomic theory, based on an examination of the theories of Keynes and Lucas. It is divided into two parts. In the first Professor Vercelli discusses the methodological issues which lie behind the conflict among different schools of thought in macroeconomics (equilibrium and disequilibrium, risk and uncertainty, rationality and causality). These issues are central to the current debate not only in many branches of economics, but also in other scientific disciplines. The traditional point of view of science based on equilibrium, stability and determinism has been increasingly challenged by a new point of view in which disequilibrium, instability and uncertainty play a crucial role. This, the author argues, is bound to put macroeconomics in a new, more promising position. In the second part of the book the author compares the two main alternative research programmes in macroeconomics: that outlined by Keynes in his 'General Theory', and that suggested by Lucas, the leader of the new classical economists.

Download or read book Financial Constraints and Market Failures written by Marcello Messori and published by Edward Elgar Publishing. This book was released on 1999-01-01 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: An Italian study group made up of seven economists report their findings on how the new Keynesian economics has reacted to challenges from new classical economics by strengthening the analytical power of its models. First they discuss the theoretical unde

Download or read book Unemployment Theory Policy and Structure written by Peder J. Pedersen and published by Walter de Gruyter GmbH & Co KG. This book was released on 2017-11-07 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: