Author: Julio DAVILAPublisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
TIME AND UNCERTAINTY IN OVERLAPPING GENERATION ECONOMIES
Author: Julio DAVILATime and Uncertainty in Overlapping Generations Economies
Author: Julio DávilaTime and Uncertainty in Overlapping Generations Economies
Author: Julio DávilaTime Reversibility and Extrinsic Uncertainty in Overlapping Generations Economies
Author: Julio DávilaEconomic Dynamics and General Equilibrium
Author: Anders BorglinPublisher: Springer Science & Business Media
ISBN: 3662051974
Category : Business & Economics
Languages : en
Pages : 407
Book Description
The developments of economic theory in the 1950s served to pinpoint important underlying assumptions in the study of market institutions. The conflict between observed institutions and the benchmark interpretation became apparent. This led to the introduction of new equilibrium concepts. The emphasis was on the possibilities to transfer purchasing power over time using spot markets involving assets or money. This advanced textbook focuses on the developments in the theory of incomplete markets and overlapping generations economies where income transfers over time are restricted either by available assets or by the unfeasibility of contracts with unborn generations. It bridges the gap between standard textbooks on microeconomics and more advanced expositions. Contains diagrams, examples and exercises.
Public Finance in an Overlapping Generations Economy
Author: T. IhoriPublisher: Springer
ISBN: 0230389902
Category : Business & Economics
Languages : en
Pages : 311
Book Description
This book presents a theoretically-based comprehensive analysis of macroeconomic consequences of fiscal policy using a popular economic model: the overlapping generations growth model. A wide range of essential public finance issues is analyzed, including the effects of tax reform on dynamic efficiency, positive and normative effects of public spending, considerations of taxes on fixed assets and monetary holdings, and sustainability of deficits. A unique approach is applied in the study of public finance: one expected to generate substantial interest among current graduate students and active researchers.
Renewable Resources in an Overlapping Generations Economy Without Capital
Author: Erkki KoskelaPublisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
We incorporate a renewable resource into an overlapping generations model without capital and with quasi-linear preferences. Besides being an input for production the resource serves as a store of value. We characterise the dynamics, efficiency and stability of the steady state equilibria. The stability properties are sensitive to the type of resource growth. For constant growth there is only one steady state equilibrium which is stable and efficient. In the general case of the concave growth function there are usually at least two steady state equilibria, one of which is stable and the other one unstable. The unstable steady state is efficient, but the stable one may or may not be. We study the robustness of our results by assuming a logarithmic periodic utility function. If the stationary equilibrium is unique, it is stable regardless of whether the equilibrium is efficient or inefficient, and irrespective of the type of growth function. Our analytical results are illustrated by numerical calculations.
Journal of Economic Theory
Author: PennsylvaniaPublisher:
ISBN:
Category : Economics
Languages : en
Pages : 1032
Book Description
Essays in Dynamic General Equilibrium Theory
Author: Alessandro CitannaPublisher: Springer Science & Business Media
ISBN: 3540271929
Category : Business & Economics
Languages : en
Pages : 278
Book Description
In the area of dynamic economics, David Cass’s work has spawned a number of important lines of research, including the study of dynamic general equilibrium theory, the concept of sunspot equilibria, and general equilibrium theory when markets are incomplete. Based on these contributions, this volume contains new developments in the field, written by Cass's students and co-authors.
Economics and the Antagonism of Time
Author: Douglas VickersPublisher: University of Michigan Press
ISBN: 9780472104970
Category : Business & Economics
Languages : en
Pages : 286
Book Description
A careful reconsideration of time in economics leads to a new paradigm of choice