Download or read book Towards Applied Disequilibrium Growth Theory written by Carl Chiarella and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Towards Applied Disequilibrium Growth Theory written by Carl Chiarella and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Towards Applied Disequilibrium Growth Theory written by and published by . This book was released on 1999 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Towards applied disequilibrium growth theory 3 Basic partial feedback structures and stability issues written by Carl Chiarella and published by . This book was released on 2000 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Towards Applied Disequilibrium Growth Theory written by Carl Chiarella and published by . This book was released on 2006 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we investigate further the 34D applied structural model whose extensive form we introduced in Chiarella and Flaschel (1999c). Here we express the model in terms of intensive form state variables, thereby abstracting from the underlying growth trend. We explain the dynamic (and static) laws of the model directly in terms of the intensive form variables, and then determine the steady state and its characteristics. Finally we show how a small number of simplifying assumptions, concerning in particular consumption of asset holders and some secondary adjustment processes, reduce the 34D model to an 18D core model. It is this latter core model whose detailed structure, steady state characteristics and dynamical behavior will become the object of study in the remaining papers of this sequence.
Download or read book Towards Applied Disequilibrium Growth Theory written by Carl Chiarella and published by . This book was released on 2006 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we build a hierarchically structured continuous-time model of Keynesian monetary growth. The model is sufficiently rich with respect to markets, sectors and agents and consistent with respect to budget constraints to capture sufficient broad details of actual macroeconomies and so serve as a macrotheoretic basis for many large scale models. We describe the model at the level of national accounts and then derive its extensive form dynamics. We also give detailed discussion as to how our model is related to the large scale Murphy model of the Australian economy. Our model provides a basis for understanding the various economic feedback chains contained in such models and their dynamic interaction.
Download or read book Towards Applied Disequilibrium Growth Theory written by Carl Chiarella and published by . This book was released on 1999 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Towards Applied Disequilibrium Growth Theory written by Carl Chiarella and published by . This book was released on 1999 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Towards Applied Disequilibrium Growth Theory written by Carl Chiarella and published by . This book was released on 2006 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we present ...
Download or read book Towards Applied Disequilibrium Growth Theory written by Carl Chiarella and published by . This book was released on 2006 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we consider the applied structural model of diequilibrium growth that we introduced in a previous paper. In particular we express the model in terms of intensive form variables which turn out to be governed by a set of 39D dynamic equations. We consider the model from the perspective of national accounts and also determine and analyze the model's steady state. The model allows for smooth input and output substitution (via a neoclassical production function) between its three inputs (capital, imported commodities and labor) and two outputs (domestically traded goods and exported commodities).
Download or read book Disequilibrium Growth Theory written by Charles van Marrewijk and published by Ashgate Publishing. This book was released on 1993 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Static disequilibrium economic theory fails to analyse the dynamic effects of market disequilibrium, whereas standard growth theory always assumes markets to be in equilibrium. Both shortcomings can be overcome by disequilibrium growth theory. A problem arises, however, because different short term disequilibrium regimes give rise to differential equations. The dynamic analysis, therefore, has to take into consideration the possibility of regime switching. Various solutions have been put forward for this problem, but they generally do not give unique solutions. The method developed by Filippov gives a unique solution that coincides with the classical solution to differential equations in the interior of the regimes. This approach has been used in several papers in the past decade. This book seeks to fill the gap in the literature on what has been achieved so far.
Download or read book Towards Applied Disequilibrium Growth Theory written by Carl Chiarella and published by . This book was released on 2006 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we investigate, from the numerical perspective, the 18D core dynamics of a theoretical 39D representation of an applied disequilibium model of monetary growth of a small open economy. After considering the model from the viewpoint of national accounting, we provide a compact description of the intensive form of the model, its laws of motion and accompanying algebraic expressions and its unique interior steady state solution. We then give a survey of various types of subsystems that can be decomposed from the integrated 18D dynamics by means of suitable assumptions and also survey the feedback channels that can typically be found in these decomposed or re-integrated model types. These subsystems and their partial or full integration are investigated and compared in the remainder of the paper from the perspective of bifurcation diagrams that separate situations of asymptotic stability from stable cyclical behavior as well as pure explosiveness. In this way we lay the foundations for future extensions of the paper, which will show, in contract to what is generally believed to characterize structural macroeconomic models, that applied integrated macrodynamical systems can have a variety of interesting attractors and transients to them. Such attractors are obtained in particular when locally explosive situations are turned into bounded dynamics by the addition of specifically tailored extrinsic nonliearities.
Download or read book New Growth Theory written by Jatikumar Sengupta and published by Edward Elgar Publishing. This book was released on 1998 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Attempts to explain the process of long-run economic growth through endogenous forces such as human capital, knowledge spillover, and information technology. Reviews economic issues in new growth theory, and discusses its empirical evidence and usefulness in national policy making. Analyzes the dynamic and disequilibrium models as applied to recent international growth and discusses their policy implications, and empirically illustrates the various phases of growth in technology-intensive sectors such as flexible manufacturing and the semiconductor and telecommunications industries. Annotation copyrighted by Book News, Inc., Portland, OR
Download or read book Towards Applied Disequilibrium Growth Theory written by Carl Chiarella and published by . This book was released on 2015 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we reconsider a general disequilibrium model of an applied orientation, exhibiting a detailed modelling of the private housing sector, which we have developed in a series of working papers starting from the Murphy model for the Australian economy. This modelling approach is complete with respect to budget equations and stock-flow interactions and can be reduced to a somewhat simplified 18D core model, the dynamics of which was intensively studied in the earlier work. In the present paper we modify this type of model towards the explicit consideration of debtor and creditor households which extends the dynamics of the core model by 1 to 19D by the addition of the dynamics of the debt to capital ratio of indebted households. Various subdynamics of these 19D dynamics are investigated theoretically and illustrated numerically. The basic findings are that there is convergence to the balanced growth path of the model for sluggish disequilibrium adjustment processes, that persistent investment cycles in the housing sector can be generated for certain higher adjustment speeds by way of Hopf-bifurcations in particular. Furthermore processes of debt deflation my trigger monotonic depressions that get more and more severe when the real debt of debtor households is systematically increased by deflationary spirals in the goods manufacturing sector in particular.
Download or read book Disequilibrium Growth Theory written by Carl Chiarella and published by . This book was released on 2006 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we survey, also for the general reader interested in the non-market cleaning approach to growth and fluctuations, the foundations, the core model and the general framework underlying our joint work on integrated disequilibrium models of monetary growth, drawing also on joint work with further co-authors in various places. We found the basic working model of this type on appropriately reformulated and extended partial dynamic models already existing in the literature. We then develop the obtained working model further into a theoretical continuous-time disequilibrium growth model of a very general nature. We then show that there are strong relationships between our general model and models currently used for structural macroeconomic model-building and their applications. In this way we want to contribute both to the further development and analysis of full-sized theoretical models of disequilibrium growth and to the theoretical penetration of their modern counterparts in the applied literature. Such development and analysis is based on detailed steady state analyses, on use of theoretical investigations of all important subdynamics that are there involved (in isolation as well as in their interaction) and, on computer simulations based on a variety of modern numerical tools of nonlinear dynamical analysis.
Download or read book Disequilibrium Growth and Labor Market Dynamics written by Carl Chiarella and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 487 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book on disequilibrium, growth and labor market dynamics we take predominantly a macroeconomic perspective. We present a working model that can easily be varied in different directions in order to subsume innovations in the literature on macroeconomics, old and new, and to contribute to important currently discussed macroeconomic issues. Our working model is set up in a way that there is a close relationship between our presented dynamic models and modern macro econometric models with disequilibrium both in the labor and the goods markets. One of our objectives is, therefore, to narrow the gap between theoretical and applied structural macrodynamic model building. We hope that the book will be a useful reference for all researchers, academic teachers and practitioners of macroeconomic and macro econometric model building who are interested in economic dynamics, independently of whether they use equilibrium or disequilibrium methods in their own research. We base this hope on the fact that our approach contains a number of unique features. The emphasis on the identification and analysis of the basic feedback mechanisms at work in modern macro economies. A detailed study of the partial as well as integrated dynamic interaction between these feedback mechanisms that consti tute the interdependence of markets and sectors of the modern macro economy. The rela tionship between the macroeconomic framework of our working model and the Walrasian, Non-Walrasian and New-Keynesian reformulations of macroeconomics.
Download or read book The Theory of Equilibrium Growth written by Avinash K. Dixit and published by Oxford University Press, USA. This book was released on 1976 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to bridge the gap between elementary and advanced textbooks on growth theory, and to highlight and clarify the framework of intertemporal equilibrium that underlies much of growth theory.
