Comparative Statics of General Equilibrium Asset-pricing PDF Download

Author: Theodoros M. Diasakos
Publisher:
ISBN:
Category :
Languages : en
Pages : 122

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Author: Erich Schneider
Publisher: Psychology Press
ISBN: 9780415313193
Category : Business & Economics
Languages : en
Pages : 400

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Book Description
This volume analyses value and equilibrium. Chapters on the decisions of household and on the theory of the firm (including short and long-term planning and investment) include both static and dynamic analysis. * Based on the enlarged sixth German edition this English edition contains many diagrams and an introduction to linear programming, as well as full treatment of the author's well-known theory of production.

Author: David W. Bernotas
Publisher:
ISBN: 9780542987328
Category :
Languages : en
Pages : 84

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Book Description
I derive testable implications of general equilibrium theory. I consider a sequence of pure exchange economies, each characterized by agents' initial endowments and market clearing prices. I find necessary and sufficient conditions on prices and endowments that ensure data are consistent with utility maximization.

Author: Trout Rader
Publisher: Academic Press
ISBN: 1483268926
Category : Business & Economics
Languages : en
Pages : 383

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Book Description
Theory of General Economic Equilibrium provides information pertinent to the general economic equilibrium theory. This book covers a variety of topics, including efficiency, economic systems analysis, welfare economics, and international trade. Organized into three parts encompassing eight chapters, this book begins with an overview of the theory of efficient production and growth where consumer preferences play a subordinate role. This text then examines that for the case where preferences satisfy appropriate conditions, efficiency theory is superseded as normative analysis by optimality theory. Other chapters consider the optimization of consumer preferences that leads to the decline of many families. This book discusses as well the existence of equilibrium, which is of importance to both normative and positive economics. The final chapter deals with the question of the speed with which the economic system attains its equilibrium state, which is assumed to be stationary. This book is a valuable resource for professional economists and advanced graduate students in economics.

Author: Lionel W. McKenzie
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 640

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Book Description
A collection of papers originating from a conference held in honour of Lionel McKenzie, one of the most influential theorists of the post-war period. The volume includes nine papers on general equilibrium, eight papers on optimal growth and seven papers on international trade.

Author: Lü-weng Huang
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 108

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Book Description

Author: Sumru Altug
Publisher: Cambridge University Press
ISBN: 1139474367
Category : Business & Economics
Languages : en
Pages : 686

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Book Description
This introduction to general equilibrium modelling takes an integrated approach to the analysis of macroeconomics and finance. It provides students, practitioners, and policymakers with an easily accessible set of tools that can be used to analyze a wide range of economic phenomena. Key features: • Provides a consistent framework for understanding dynamic economic models • Introduces key concepts in finance in a discrete time setting • Develops simple recursive approach for analyzing a variety of problems in a dynamic, stochastic environment • Sequentially builds up the analysis of consumption, production, and investment models to study their implications for allocations and asset prices • Reviews business cycle analysis and the business cycle implications of monetary and international models • Covers latest research on asset pricing in overlapping generations models and on models with borrowing constraints and transaction costs • Includes end-of-chapter exercises allowing readers to monitor their understanding of each topic Online resources are available at www.cambridge.org/altug_labadie

Author: Yvan Lengwiler
Publisher:
ISBN: 9780691113159
Category : Business & Economics
Languages : en
Pages : 287

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Book Description
This textbook takes the reader from the level of microeconomics principles through to modern asset pricing theory. Yvan Lengwiler elegantly links together issues that have in the past been the territory of general economic theorists on the one hand, and financial economists on the other. In a sequence of carefully explained steps, the reader learns how the first welfare theorem is used in asset pricing theory. The book then moves on to explore Radner economies and von Neumann-Morgenstern decision theory, and this section culminates in Wilson's mutuality principle and the consumption-based CAPM. This is then put into a dynamic setting, and term structure models are introduced. The empirical shortcomings of the standard asset pricing models are extensively discussed, as is research from the last twenty years aimed at bringing theory in line with reality. The reader is brought up to date on the latest areas of concern, such as habit formation, the consequences of heterogeneity, demographic effects, changing tax regimes, market frictions, and the implications of prospect theory for asset pricing. Aimed at masters or Ph.D. students specializing in financial economics, the book can also be used as a supplementary text for students of macroeconomics at this advanced level and will be of interest to finance professionals with a background in economics and mathematics. It includes problems (with solutions), and an accompanying website provides supporting material for lecturers.

Author: Cheol Soo Park
Publisher:
ISBN:
Category : Equilibrium (Economics)
Languages : en
Pages : 128

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Author: Michael Magill
Publisher: MIT Press
ISBN: 9780262632546
Category : Business & Economics
Languages : en
Pages : 566

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Book Description
Theory of incompl. markets/M. Magill, M. Quinzii. - V.1.