Download or read book On the Equilibrium Concept for Overlapping Generations Organizations written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Federal Reserve Bank of Minneapolis presents the full text of the November 2000 staff report entitled "On the Equilibrium Concept for Overlapping Generations Organizations," written by Edward C. Prescott and Jose-Victor Rios-Rull. The text is available in PDF format. This paper proposes an alternative equilibrium concept, organizational equilibrium that does as well as the initial generation did in the same situation.
Download or read book On the Equilibrium Concept for Overlapping Generations Organizations written by Edward C. Prescott and published by . This book was released on 2000 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book On Equilibrium for Overlapping Generations Organizations written by Edward C. Prescott and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Necessary conditions for equilibrium are that beliefs about the behavior of other agents are rational and individuals maximize. We argue that in stationary OLG environments this implies that any future generation in the same situation as the initial generation must do as well as the initial generation did in that situation. We conclude that the existing equilibrium concepts in the literature do not satisfy this condition. We then propose an alternative equilibrium concept, organizational equilibrium that satisfies this condition. We show that equilibrium exists, it is unique, and it improves over autarky without achieving optimality. Moreover, the equilibrium can be readily found by solving a maximization program.
Download or read book On the Uniqueness of the Equilibrium in Overlapping Generations Models written by Carlos Cuervo-Arango and published by . This book was released on 1981 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book General Equilibrium Overlapping Generations Models and Optimal Growth Theory written by Truman F. Bewley and published by Harvard University Press. This book was released on 2009-07-01 with total page 615 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents an original exposition of general equilibrium theory for advanced undergraduate and graduate-level students of economics. It contains detailed discussions of economic efficiency, competitive equilibrium, the first and second welfare theorems, the Kuhn-Tucker approach to general equilibrium, the Arrow-Debreu model, and rational expectations equilibrium and the permanent income hypothesis. Truman Bewley also treats optimal growth and overlapping generations models as special cases of the general equilibrium model. He uses the model and the first and second welfare theorems to explain the main ideas of insurance, capital theory, growth theory, and social security. It enables him to present a unified approach to portions of macro- as well as microeconomic theory. The book contains problems sets for most chapters.
Download or read book Generations of Economists written by David Collard and published by Routledge. This book was released on 2012-07-26 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the interaction between practising economists and previous generations of economists. Because economic problems, such as crashes, tend to recur and are only partially understood, it may be profitable read the work of previous generations in a collaborative spirit. Sometimes this can offer a different perspective on current preoccupations and cause us to reconsider the scope of our much criticised subject. The book gathers together earlier work by the author which appeared in various academic books and journals with the addition of six new chapters. The collection makes for a lively, informative and thought-provoking collection. It will interest anyone with an interest in the history of economics and of economic thought.
Download or read book Existence of Equilibrium in the Overlapping Generations Model the Nontransitive Case written by Imed Cherif and published by . This book was released on 1992 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Overlapping Generations written by Stephen E. Spear and published by Emerald Group Publishing. This book was released on 2023-09-04 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 800 pound gorilla in the room of macroeconomics is the question of why the overlapping generations model didn’t become the central workhorse model for macroeconomics, as opposed to the neoclassical growth model. The authors here explore the co-evolution of the two models.
Download or read book The Overlapping Generations Model written by Oliver Kim and published by . This book was released on 1981 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book On the Existence of Optimal Competitive Equilibria in the Overlapping generations Model written by Teodoro Millan and published by . This book was released on 1981 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Overlapping Generations Model of General Equilibrium written by John Geanakoplos and published by . This book was released on 1987 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Overlapping Generations Models of General Equilibrium written by John Geanakoplos and published by . This book was released on 2008 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: The OLG model of Allais and Samuelson retains the methodological assumptions of agent optimization and market clearing from the Arrow-Debreu model, yet its equilibrium set has different properties: Pareto inefficiency, indeterminacy, positive valuation of money, and a golden rule equilibrium in which the rate of interest is equal to population growth (independent of impatience). These properties are shown to derive not from market incompleteness, but from lack of market clearing quot;at infinity;quot; they can be eliminated with land or uniform impatience. The OLG model is used to analyze bubbles, social security, demographic effects on stock returns, the foundations of monetary theory, Keynesian vs. real business cycle macromodels, and classical vs. neoclassical disputes.
Download or read book Existence of Equilibrium in Overlapping Generations Economies with Non transitive Preferences written by Allen J. Scafuri and published by . This book was released on 1982 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Beyond Microfoundations written by David Colander and published by Cambridge University Press. This book was released on 1996-01-26 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses the foundations for post-Walrasian macroeconomics.
Download or read book An Overlapping Generations Model with Endogenous Policy written by Michael Bruce Loewy and published by . This book was released on 1986 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Money written by Rudolf Richter and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: The central idea of this book is the concept of a currency order. Monetary theory is developed as a theory of currency orders. The book expands the neoclassical theory of currency orders. This new way of looking at the problems permits a general view of the subject matter of monetary theory and policy which so far does not exist. The concept of transaction costs is used throughout. The book deals not only with the theories of the demand for and the supply of money, the banking firm, and the purchasing power of money. It also presents a theoretically based discussion of the great topics of monetary policy of our time: fixed vs. flexible exchange rates, gold vs. paper, rules vs. authority for the central banks, governmental currency monopoly vs. competition of private currencies, regulation vs. deregulation of commercial banks. The book is suitable as a text for students with a knowledge of money and banking and intermediate microeconomics. It offers a consistent and well-written presentation of the subject matter, as well as an extensive list of further readings.
Download or read book Control And Coordination Of Subsidiaries In Japanese Corporate Groups written by Akira Mitsumasu and published by World Scientific. This book was released on 2015-06-29 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book attempts to bridge academic knowledge and practitioner's knowledge regarding the control and coordination of subsidiaries in Japan. It specifically explores two questions: why do corporations establish subsidiaries and form corporate groups? How do corporate groups manage their subsidiaries? Based on the case studies presented in the book, the author identifies four different types of parent-subsidiary relationships and uses this typology to understand control and coordination issues within Japanese organizations.The chapters in the book are designed to cover many characteristics of large Japanese corporate groups. Chapter 2 gives the definition of corporate group in Japan and distinguishes it from the keiretsu business group, while Chapter 3 provides a backdrop and context for understanding the corporate landscape in which Japanese firms today operate. Chapters 4 and 5 provide a literature review on some of the major literatures that are related to the research questions concerning why corporate groups exist and how they are managed. Chapter 6 attempts to bridge academic knowledge with practitioners knowledge by looking at five corporate groups: Hitachi, Panasonic, Mitsubishi Heavy Industry, Nihon Yusen and Japan Airlines, and by identifying areas where practitioner's knowledge could be used to expand existing theories. Chapter 7 proposes a four-part classification of subsidiaries to facilitate the discussion of different issues that arise under different parent-subsidiary settings. Chapter 8 attempts to illustrate a simplistic roadmap for creating successful subsidiary management, while Chapter 9 concludes the book.Written in a simple and accessible manner, this book will be of interest to business practitioners, decision makers in organizations and academics alike.
