Download or read book Nonergodic Economic Growth written by Steven N. Durlauf and published by . This book was released on 1991 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the role of complementarities and coordination failure in economic growth. We analyze the evolution composed of a countable set of infinitely-lived heterogenous industries. Individual industries exhibit nonconvexities in production and are linked across time through localized technological complementarities. Each industry employs one of two production techniques. One technique is more efficient in using capital than the other, but requires the payment of a fixed capital cost. Both techniques exhibit technological complementarities in the sense that the productivity of capital invested in a technique is a function of the technique choices made by various industries the previous period. These complementarities, when strong enough, interact with incompleteness of markets to produce multiple Pareto-rankable equilibria in ling run economic activity. The equilibria have a simple probabilistic structure that demonstrates how localized coordination failures can affect the aggregate equilibrium. The model is capable of generating interesting aggregate dynamics as coordination problems become the source of aggregate volatility. Modifications of the model illustrate how leading sectors can cause a takeoff into high growth.

Download or read book Handbook of Economic Growth written by Philippe Aghion and published by Elsevier. This book was released on 2005-12-09 with total page 1139 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbooks in Economics series continues to provide the various branches of economics with handbooks which are definitive reference sources, suitable for use by professional researchers, advanced graduate students, or by those seeking a teaching supplement.The Handbook of Economic Growth, edited by Philippe Aghion and Steven Durlauf, with an introduction by Robert Solow, features in-depth, authoritative survey articles by the leading economists working on growth theory.Volume 1A, the first in this two volume set, covers theories of economic growth, the empirics of economic growth, and growth policies and mechanisms.Volume 1B, the second in this two volume set, covers technology, trade and geography, and growth and socio-economic development.

Download or read book Economic Growth and Development written by Olivier La Grandville and published by Emerald Group Publishing. This book was released on 2011-12-12 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the very beginnings of economics as a science, which might be dated from Ibn Khaldun's "Introduction to History" (1377), the challenge of making societies escape from poverty and attain some degree of prosperity has always been, and can remain, a fundamental issue. This book presents research on each of these issues.

Download or read book Puzzles of Economic Growth written by Leszek Balcerowicz and published by World Bank Publications. This book was released on 2014-12-03 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: By comparing countries like Venezuela and Chile, China and India, Dominican Republic and Haiti, and others, the book tries to answer the questions of which institutions and policies are crucial for stable long term economic growth.

Download or read book The Economics of Non Convex Ecosystems written by Partha Dasgupta and published by Springer Science & Business Media. This book was released on 2006-04-11 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists often assume that ecosystem and population dynamics are subject to convex, even linear processes. But research by ecosystem and population ecologists suggests that such processes are very often non-convex, for example a possible flip of the Gulf Stream due to fresh water intrusion from melting glaciers. This has dramatic implications for environmental and resource economics, since mistakes in management could prove more costly than imagined.

Download or read book The Economy As an Evolving Complex System III written by Lawrence E. Blume and published by Oxford University Press. This book was released on 2006 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Derived from the 2001 Santa Fe Institute Conference, "The Economy as an Evolving Complex System III" addresses a wide variety of issues in the fields of economics and complexity, accessing eclectic techniques from many disciplines, provided that they shed light on the economic problem. The subject, a perennial centerpiece of the SFI program of studies, has gained a wide range of followers for its methods of employing empirical evidence in the development of analytical economic theories.

Download or read book Economic Growth and Structural Features of Transition written by E. Marelli and published by Springer. This book was released on 2010-01-20 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines, theoretically and empirically, the key aspects and differences of economic growth. It provides a comprehensive investigation of the numerous features of development in transition countries, covering the last two decades, from the fall of the Berlin Wall in 1989 to the current financial crisis.

Download or read book The Foundations of Non Equilibrium Economics written by Sebastian Berger and published by Routledge. This book was released on 2009-09-10 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thought-provoking volume seeks to answer some of the ultimate economic questions in terms of a theory that emerged with Adam Smith and is now come to full fruition; the principle of circular and cumulative causation (CCC) This full-fledged theoretical framework explains the whole interplay of technology, firms, resources, culture, institutions and economic policy to understand the basic drives behind modern day economic dynamics.

Download or read book Foundations of Economic Change written by Andreas Pyka and published by Springer. This book was released on 2017-11-15 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book illustrates the considerable advances in modern evolutionary economics and addresses core questions of economic behaviour, interaction of heterogeneous actors in uncertain environments and the possibility of aggregating observations on a macro-economic level. It presents the foundations of economic change as the major building blocks of an economic approach that focusses on complex processes driven by endogenous innovation as well as crisis. The theoretical considerations are complemented by econometric studies to demonstrate the relevance of evolutionary-economic thinking to improve our understanding of the most challenging issues related to economic growth and development.

Download or read book Human Capital and Economic Growth written by Andreas Savvides and published by Stanford University Press. This book was released on 2008-10-10 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an in-depth investigation of the link between human capital and economic growth. The authors take an innovative approach, examining the determinants of economic growth through a historical overview of the concept of human capital. The text fosters a deep understanding of the connection between human capital and economic growth through the exploration of different theoretical approaches, a review of the literature, and the application of nonlinear estimation techniques to a comprehensive data set. The authors discuss nonparametric econometric techniques and their application to estimating nonlinearities—which has emerged as one of the most salient features of empirical work in modeling the human capital-growth relationship, and the process of economic growth in general. By delving into the topic from theoretical and empirical standpoints, this book offers an insightful new view that will be extremely useful for scholars, students, and policy makers.

Download or read book The Economy As An Evolving Complex System II written by W. Brian Arthur and published by CRC Press. This book was released on 2018-05-04 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new view of the economy as an evolving, complex system has been pioneered at the Santa Fe Institute over the last ten years, This volume is a collection of articles that shape and define this view?a view of the economy as emerging from the interactions of individual agents whose behavior constantly evolves, whose strategies and actions are always adapting.The traditional framework in economics portrays activity within an equilibrium steady state. The interacting agents in the economy are typically homogenous, solve well-defined problems using perfect rationality, and act within given legal and social structures. The complexity approach, by contrast, sees economic activity as continually changing?continually in process. The interacting agents are typically heterogeneous, they must cognitively interpret the problems they face, and together they create the structures?markets, legal and social institutions, price patters, expectations?to which they individually react. Such structures may never settle down. Agents may forever adapt and explore and evolve their behaviors within structures that continually emerge and change and disappear?structures these behaviors co-create. This complexity approach does not replace the equilibrium one?it complements it.The papers here collected originated at a recent conference at the Santa Fe Institute, which was called to follow up the well-known 1987 SFI conference organized by Philip Anderson, Kenneth Arrow, and David Pines. They survey the new study of complexity and the economy. They apply this approach to real economic problems and they show the extent to which the initial vision of the 1987 conference has come to fruition.

Download or read book Cognitive Economics written by Paul Bourgine and published by Springer Science & Business Media. This book was released on 2013-03-20 with total page 479 pages. Available in PDF, EPUB and Kindle. Book excerpt: The social sciences study knowing subjects and their interactions. A "cog nitive turn", based on cognitive science, has the potential to enrich these sciences considerably. Cognitive economics belongs within this movement of the social sciences. It aims to take into account the cognitive processes of individuals in economic theory, both on the level of the agent and on the level of their dynamic interactions and the resulting collective phenomena. This is an ambitious research programme that aims to link two levels of com plexity: the level of cognitive phenomena as studied and tested by cognitive science, and the level of collective phenomena produced by the economic in teractions between agents. Such an objective requires cooperation, not only between economists and cognitive scientists but also with mathematicians, physicists and computer scientists, in order to renew, study and simulate models of dynamical systems involving economic agents and their cognitive mechanisms. The hard core of classical economics is the General Equilibrium Theory, based on the optimising rationality of the agent and on static concepts of equilibrium, following a point of view systemised in the framework of Game Theory. The agent is considered "rational" if everything takes place as if he was maximising a function representing his preferences, his utility function.

Download or read book The Evolution of the Non market Economy Treatment in the Multilateral Trading System written by Bin Zhang and published by Springer. This book was released on 2018-06-18 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book tries to integrate the different arrangements devised in the MTS for small and large NMEs into one analytical framework and explores two sets of rules (GATT/WTO-minus and GATT/WTO-plus) along three historical stages (shaping, weakening and strengthening). The focal point of this book is to uncover the composition and structure of the NME treatment in the MTS, its evolving logic and process, and the nature and trend of the political-economic relations between NMEs and the MTS.

Download or read book The Economics of Networks written by Patrick Cohendet and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic concept of networks refers to the structure of agents' interaction as well as to the economic property of positive externalities. This book describes the economics of networks from various perspectives among which are classical approaches, methods derived from physics, theory of evolutionary games, and experimental economics. These different views shed a new light on the behaviour and interaction of economic agents, on networks and on related phenomena: e.g., emergence of stable macro structures from micro interactions, standardisation, diffusion, preservation of diversity, role of heterogeneity, local learning, surplus creation and surplus allocation. The book presents the state of the art and offers a unique opportunity to understand specific networks phenomena through different theoretical and experimental approaches.

Download or read book Methods in Social Epidemiology written by J. Michael Oakes and published by John Wiley & Sons. This book was released on 2006-05-11 with total page 507 pages. Available in PDF, EPUB and Kindle. Book excerpt: Social epidemiology is the study of how social interactions—social norms, laws, institutions, conventia, social conditions and behavior—affect the health of populations. This practical, comprehensive introduction to methods in social epidemiology is written by experts in the field. It is perfectly timed for the growth in interest among those in public health, community health, preventive medicine, sociology, political science, social work, and other areas of social research. Topics covered are: Introduction: Advancing Methods in Social Epidemiology The History of Methods of Social Epidemilogy to 1965 Indicators of Socioeconomic Position Measuring and Analyzing 'Race' Racism and Racial Discrimination Measuring Poverty Measuring Health Inequalities A Conceptual Framework for Measuring Segregation and its Association with Population Outcomes Measures of Residential Community Contexts Using Census Data to Approximate Neighborhood Effects Community-based Participatory Research: Rationale and Relevance for Social Epidemiology Network Methods in Social Epidemiology Identifying Social Interactions: A Review, Multilevel Studies Experimental Social Epidemiology: Controlled Community Trials Propensity Score Matching Methods for Social Epidemiology Natural Experiments and Instrumental Variable Analyses in Social Epidemiology and Using Causal Diagrams to Understand Common Problems in Social Epidemiology. "Publication of this highly informative textbook clearly reflects the coming of age of many social epidemiology methods, the importance of which rests on their potential contribution to significantly improving the effectiveness of the population-based approach to prevention. This book should be of great interest not only to more advanced epidemiology students but also to epidemiologists in general, particularly those concerned with health policy and the translation of epidemiologic findings into public health practice. The cause of achieving a ‘more complete’ epidemiology envisaged by the editors has been significantly advanced by this excellent textbook." —Moyses Szklo, professor of epidemiology and editor-in-chief, American Journal of Epidemiology, Johns Hopkins University "Social epidemiology is a comparatively new field of inquiry that seeks to describe and explain the social and geographic distribution of health and of the determinants of health. This book considers the major methodological challenges facing this important field. Its chapters, written by experts in a variety of disciplines, are most often authoritative, typically provocative, and often debatable, but always worth reading." —Stephen W. Raudenbush, Lewis-Sebring Distinguished Service Professor, Department of Sociology, University of Chicago "The roadmap for a new generation of social epidemiologists. The publication of this treatise is a significant event in the history of the discipline." —Ichiro Kawachi, professor of social epidemiology, Department of Society, Human Development, and Health, Harvard University "Methods in Social Epidemiology not only illuminates the difficult questions that future generations of social epidemiologists must ask, it also identifies the paths they must boldly travel in the pursuit of answers, if this exciting interdisciplinary science is to realize its full potential. This beautifully edited volume appears at just the right moment to exert a profound influence on the field." —Sherman A. James, Susan B. King Professor of Public Policy Studies, professor of Community and Family Medicine, professor of African-American Studies, Duke University

Download or read book Economic Dynamics second edition written by John Stachurski and published by MIT Press. This book was released on 2022-08-16 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second edition of a rigorous and example-driven introduction to topics in economic dynamics that emphasizes techniques for modeling dynamic systems. This text provides an introduction to the modern theory of economic dynamics, with emphasis on mathematical and computational techniques for modeling dynamic systems. Written to be both rigorous and engaging, the book shows how sound understanding of the underlying theory leads to effective algorithms for solving real-world problems. The material makes extensive use of programming examples to illustrate ideas, bringing to life the abstract concepts in the text. Key topics include algorithms and scientific computing, simulation, Markov models, and dynamic programming. Part I introduces fundamentals and part II covers more advanced material. This second edition has been thoroughly updated, drawing on recent research in the field. New for the second edition: “Programming-language agnostic” presentation using pseudocode. New chapter 1 covering conceptual issues concerning Markov chains such as ergodicity and stability. New focus in chapter 2 on algorithms and techniques for program design and high-performance computing. New focus on household problems rather than optimal growth in material on dynamic programming. Solutions to many exercises, code, and other resources available on a supplementary website.

Download or read book Handbook of Computational Economics written by Leigh Tesfatsion and published by Elsevier. This book was released on 2006-05-15 with total page 905 pages. Available in PDF, EPUB and Kindle. Book excerpt: The explosive growth in computational power over the past several decades offers new tools and opportunities for economists. This handbook volume surveys recent research on Agent-based Computational Economics (ACE), the computational study of economic processes modeled as dynamic systems of interacting agents. Empirical referents for "agents" in ACE models can range from individuals or social groups with learning capabilities to physical world features with no cognitive function. Topics covered include: learning; empirical validation; network economics; social dynamics; financial markets; innovation and technological change; organizations; market design; automated markets and trading agents; political economy; social-ecological systems; computational laboratory development; and general methodological issues.*Every volume contains contributions from leading researchers*Each Handbook presents an accurate, self-contained survey of a particular topic *The series provides comprehensive and accessible surveys