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Author: Yasuo Murata Publisher: ISBN: Category : Economic development Languages : en Pages : 208
Book Description
The effect of vintage of capital on a multi-sectoral economic growth model is examined. First, the author extends the substitution theorem to a dynamic system where various capital goods are classified not only in terms of their kinds but also in terms of their vintages. With no joint production, each commodity is assumed to have a Cobb-Douglas type of production function which is identical for all different vintages of its capital goods. In a steady-state equilibrium, capital-output ratios (in efficiency units when involving the capitalaugmenting technical progress) turn out to be invariant for individual vintages. It is also shown that all capitaland labor-output ratios in the economy take simple and easily calculated functions of only the interest rate and the trend values of technology. Current flow requirements per output, defined as depreciated part of capital goods, vary over time along with the distribution of their vintages. However, in a steady-state equilibrium they take invariant values in the case of no technological change. Second, the author is concerned with the existence of a unique balanced growth of production in our multi-sectoral model, which turns out to be a variant of the dynamic Leontief model. Making use o f the Hawkins-Simon conditions and the Frobenius theorem, we prove the existence of the balanced growth in abstraction from technological change, as well as in the case of technical progress. (Author).
Author: Yasuo Murata Publisher: ISBN: Category : Economic development Languages : en Pages : 208
Book Description
The effect of vintage of capital on a multi-sectoral economic growth model is examined. First, the author extends the substitution theorem to a dynamic system where various capital goods are classified not only in terms of their kinds but also in terms of their vintages. With no joint production, each commodity is assumed to have a Cobb-Douglas type of production function which is identical for all different vintages of its capital goods. In a steady-state equilibrium, capital-output ratios (in efficiency units when involving the capitalaugmenting technical progress) turn out to be invariant for individual vintages. It is also shown that all capitaland labor-output ratios in the economy take simple and easily calculated functions of only the interest rate and the trend values of technology. Current flow requirements per output, defined as depreciated part of capital goods, vary over time along with the distribution of their vintages. However, in a steady-state equilibrium they take invariant values in the case of no technological change. Second, the author is concerned with the existence of a unique balanced growth of production in our multi-sectoral model, which turns out to be a variant of the dynamic Leontief model. Making use o f the Hawkins-Simon conditions and the Frobenius theorem, we prove the existence of the balanced growth in abstraction from technological change, as well as in the case of technical progress. (Author).
Author: Gianni Ricci Publisher: Springer Science & Business Media ISBN: 3642492746 Category : Business & Economics Languages : en Pages : 134
Book Description
This book contains a collection of the most significant contributions to some of R.M. Goodwin's ideas, which were presented on the occasion of the outstanding economist's 73rd birthday celebrations held in Modena on February 24th, 1986. The most important feature of this book is the unique combination of papers by economists, econometricians and mathematicians. Their papers deal with the different aspects of Goodwin's celebrated models. The book is divided into three parts. The first part contains five papers which describe Goodwin's scientific life. The second part is more quantitative and contains extensions and modifications to the nonlinear model of growth cycles. The third part is an economic reflection linked to Goodwin's themes. The book presents a combination of both qualitative and quantitative contributions to Goodwin's pioneering works.
Author: F.R. Førsund Publisher: Elsevier ISBN: 1483297489 Category : Business & Economics Languages : en Pages : 354
Book Description
Professor Leif Johansen's contributions to economic science are well documented in his articles and essays for economic journals, symposium volumes and Festschrifts, all of which are to be published by North-Holland. When initiating the idea of this collection, Professor Dale W. Jorgenson also suggested a memorial volume by associates and others that would include papers devoted to research topics directly inspired by Leif Johansen. In the present volume this idea is realised. Three topics are covered: production theory, multisectoral growth models and planning. The papers presented here were either under work at the time of Leif Johansen's death or prepared especially for this volume.
Author: Daron Acemoglu Publisher: Princeton University Press ISBN: 1400835771 Category : Business & Economics Languages : en Pages : 1009
Book Description
From Nobel Prize–winning economist Daron Acemoglu, an incisive introduction to economic growth Introduction to Modern Economic Growth is a groundbreaking text from one of today's leading economists. Daron Acemoglu gives graduate students not only the tools to analyze growth and related macroeconomic problems, but also the broad perspective needed to apply those tools to the big-picture questions of growth and divergence. And he introduces the economic and mathematical foundations of modern growth theory and macroeconomics in a rigorous but easy to follow manner. After covering the necessary background on dynamic general equilibrium and dynamic optimization, the book presents the basic workhorse models of growth and takes students to the frontier areas of growth theory, including models of human capital, endogenous technological change, technology transfer, international trade, economic development, and political economy. The book integrates these theories with data and shows how theoretical approaches can lead to better perspectives on the fundamental causes of economic growth and the wealth of nations. Innovative and authoritative, this book is likely to shape how economic growth is taught and learned for years to come. Introduces all the foundations for understanding economic growth and dynamic macroeconomic analysis Focuses on the big-picture questions of economic growth Provides mathematical foundations Presents dynamic general equilibrium Covers models such as basic Solow, neoclassical growth, and overlapping generations, as well as models of endogenous technology and international linkages Addresses frontier research areas such as international linkages, international trade, political economy, and economic development and structural change An accompanying Student Solutions Manual containing the answers to selected exercises is available (978-0-691-14163-3/$24.95). See: https://press.princeton.edu/titles/8970.html For Professors only: To access a complete solutions manual online, email us at: [email protected]
Author: G Gandolfo Publisher: Elsevier ISBN: 0444601228 Category : Technology & Engineering Languages : en Pages : 584
Book Description
Economic Dynamics: Methods and Models aims to give a simple but comprehensive treatment of mathematical methods used in economic dynamics and show how they are utilized to build and to analyze dynamic models. The text also focuses on methods, and every mathematical technique introduced is followed by its application to selected models. The book is divided into three different parts. Part I: Different Equations discusses general principles; first-order, second-order, higher-order equations; simultaneous systems; and their economic applications. Part II: Differential Equations also discusses the same areas as those in Part I, but instead features differential equations, as what the section name suggests. Part III: More Advanced Material covers comparative statistics and the comparative principle; stability of equilibrium and Liapunov's second method; and linear mixed differential and difference equations, as well as its other related topics. The text is recommended for mathematicians and economists who have an idea on advanced mathematics and would like to know more about its applications in economics.
Author: John Craven Publisher: Taylor & Francis ISBN: 1000477789 Category : Business & Economics Languages : en Pages : 199
Book Description
Originally published in 1979, the purpose of this book is to introduce a theory of the distribution of national income between wages, profits and other categories of income. The relation between this branch of distribution theory and other areas of economics is explained in the Introduction. The first six chapters are designed to introduce distribution theory to students of intermediate economic principles. The reader should be familiar with the basic analysis of supply, demand and market equilibrium, and with the use of indifference curves to represent a consumer’s preferences. The remaining seven chapters discuss developments of the theory introduced in the first six.
Author: Rossella Bardazzi Publisher: Firenze University Press ISBN: 8866554081 Category : Business & Economics Languages : en Pages : 270
Book Description
This book is a tribute to the work of Maurizio Grassini, econometrician and model builder. The selection of his works in the first part of the volume is mainly devoted to research issues of multisectoral modelling. In fact, M. Grassini has dedicated a large part of his professional life to building and developing the INTIMO model for the Italian economy within the INFORUM research project. The book does not aim to be a celebration of the past but takes a look at the future of the multisectoral modelling which M. Grassini has contributed so much to. In the second part of the book, colleagues and friends who have encountered M. Grassini in the professional sphere on matters of quantitative economic analysis or still working with him on interindustry models have given their contribution to look at the future prospects of a research field firmly based on the experience of what has been done so far.
Author: Yasuo Murata
Author: Yasuo Murata
Author: 
Author: 
Author: Gianni Ricci
Author: 
Author: F.R. Førsund
Author: Daron Acemoglu
Author: G Gandolfo
Author: John Craven
Author: Rossella Bardazzi