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Author : Mary E. Burfisher
Publisher : Cambridge University Press
Page : 443 pages
File Size : 51,5 Mb
Release : 2017-02
Category : Business & Economics
ISBN : 9781107132207
The book provides a hands-on introduction to computable general equilibrium (CGE) models, written at an accessible, undergraduate level.
Author : Lawrence A. Boland
Publisher : Oxford University Press
Page : 289 pages
File Size : 54,9 Mb
Release : 2017
Category : Business & Economics
ISBN : 9780190274337
The purpose and problems for equilibrium models -- Equilibrium models and explanation -- Equilibrium attainment vs. equilibrium necessities -- Does general equilibrium attainment imply universal maximization? -- Time and knowledge matters : general equilibrium attainment -- Equilibrium concepts and critiques : two cultures -- The limits of equilibrium models -- Recognizing knowledge in equilibrium models -- Limits of equilibrium methodology an educational dialogue -- Equilibrium models vs. realistic understanding -- Macroeconomic equilibrium model building and the stability problem -- Equilibrium models intended to overcome limits -- Equilibrium models vs. evolutionary economic models -- Equilibrium models vs. complexity economics -- Building models of price dynamics -- Building models of non-clearing markets -- Building models of learning and the equilibrium process -- Bibliography -- Names index -- Subject index
Author : K.R. Pearson,B.R. Parmenter,A.A. Powell,P.J. Wilcoxen,P.B. Dixon
Publisher : Elsevier
Page : 409 pages
File Size : 52,5 Mb
Release : 2014-06-28
Category : Business & Economics
ISBN : 9780080934037
"General-equilibrium" refers to an analytical approach which looks at the economy as a complete system of inter-dependent components (industries, households, investors, governments, importers and exporters). "Applied" means that the primary interest is in systems that can be used to provide quantitative analysis of economic policy problems in particular countries. Reflecting the authors' belief in the models as vehicles for practical policy analysis, a considerable amount of material on data and solution techniques as well as on theoretical structures has been included. The sequence of chapters follows what is seen as the historical development of the subject. The book is directed at graduate students and professional economists who may have an interest in constructing or applying general equilibrium models. The exercises and readings in the book provide a comprehensive introduction to applied general equilibrium modeling. To enable the reader to acquire hands-on experience with computer implementations of the models which are described in the book, a companion set of diskettes is available.
Author : Victor Ginsburgh,Michiel Keyzer
Publisher : MIT Press
Page : 580 pages
File Size : 52,9 Mb
Release : 2002
Category : Business & Economics
ISBN : 0262571579
Bridges the gap between applied and theoretical general equilibrium models.
Author : Ross M. Starr
Publisher : Academic Press
Page : 364 pages
File Size : 40,5 Mb
Release : 2014-05-10
Category : Business & Economics
ISBN : 9781483273518
General Equilibrium Models of Monetary Economies: Studies in the Static Foundations of Monetary Theory is a collection of essays that addresses the integration of the theory of money and the theory of value by using a mathematical general equilibrium theory. The papers discuss monetary theory, microeconomic theory, bilateral trade, transactions costs, intertemporal allocation, and the value of money. The Arrow-Debreu model of Walrasian general equilibrium theory provides a framework to represent money as a device for facilitating trade among economic agents without the use of money as a medium of exchange and as a store of value. The essays analyze the rationale for using a medium of exchange, for using a store of value, and for holding of idle balances in equilibrium. The essays show that by explicit modeling of the structure and difficulties of trade, a powerful class of models which deny money and finance a role in the economy, has by itself shown to have provided the foundation for the structures of trade. The collection will prove helpful for economists, statistician, mathematicians, students or professors of economics and business.
Author : Lawrence A. Boland
Publisher : Unknown
Page : 289 pages
File Size : 48,7 Mb
Release : 2017
Category : Econometric models
ISBN : 0190274360
The concept of equilibrium is fundamental to economic theory, according to which, it exists when supply and demand are balanced. Equilibrium Models in Economics critically examines the major problematic assumptions employed to build equilibrium models. It gives particular attention to the assumptions used to characterize learning, knowledge and expectations.
Author : Burkhard Heer,Alfred Maussner
Publisher : Springer Science & Business Media
Page : 719 pages
File Size : 49,7 Mb
Release : 2011-10-20
Category : Business & Economics
ISBN : 9783540856849
Modern business cycle theory and growth theory uses stochastic dynamic general equilibrium models. In order to solve these models, economists need to use many mathematical tools. This book presents various methods in order to compute the dynamics of general equilibrium models. In part I, the representative-agent stochastic growth model is solved with the help of value function iteration, linear and linear quadratic approximation methods, parameterised expectations and projection methods. In order to apply these methods, fundamentals from numerical analysis are reviewed in detail. In particular, the book discusses issues that are often neglected in existing work on computational methods, e.g. how to find a good initial value. In part II, the authors discuss methods in order to solve heterogeneous-agent economies. In such economies, the distribution of the individual state variables is endogenous. This part of the book also serves as an introduction to the modern theory of distribution economics. Applications include the dynamics of the income distribution over the business cycle or the overlapping-generations model. In an accompanying home page to this book, computer codes to all applications can be downloaded.
Author : Jan Tuinstra
Publisher : Springer Science & Business Media
Page : 243 pages
File Size : 49,6 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461516613
A long-standing unsolved problem in economic theory is how economic equilibria are attained. Price Dynamics in Equilibrium Models: The Search for Equilibrium and the Emergence of Endogenous Fluctuations considers a number of adjustment processes in different economic models and investigates their dynamical behaviour. Two important themes arising in this context are `bounded rationality' and `nonlinear dynamics'. Important sub-themes of the book are the following: how do boundedly rational agents interact with their environment and does this interaction in some sense lead to rational outcomes (which may or may not correspond to equilibria)? The second sub-theme deals with the consequences of the nonlinear dynamical nature of many adjustment processes. The results presented in this volume indicate that endogenous fluctuations are the rule rather than the exception in the search for equilibrium. The book uses the theory of nonlinear dynamics to analyze the dynamics of the different economic models. Due to the complexity of most of the models, an important role is played by computational methods. In particular, at regular instances the models are analyzed by numerical simulations and some computer-assisted proofs are provided. It also covers a wide range of dynamical models from economic theory. Most of these models merge the theory of nonlinear economic dynamics with the theory of bounded rationality. The book is written for anyone with an interest in economic theory in general and bounded rationality and endogenous fluctuations in particular. It is entirely self-contained and accessible to readers with only a limited knowledge of economic theory.
Author : Manuel Alejandro Cardenete,Ana-Isabel Guerra,Ferran Sancho
Publisher : Springer Science & Business Media
Page : 126 pages
File Size : 48,8 Mb
Release : 2012-01-05
Category : Business & Economics
ISBN : 9783642247460
This advanced textbook aims at providing a simple but fully operational introduction to applied general equilibrium. General equilibrium is the backbone of modern economic analysis and as such generation after generation of economics students are introduced to it. As an analytical tool in economics, general equilibrium provides one of the most complete views of an economy since it incorporates all economic agents (households, firms, government, foreign sector) in an integrated way that is compatible with microtheory and microdata. The integration of theory and data handling is required for successful modeling but it requires a double ability that is not found in standard books. With this book we aim at filling the gap and provide advanced students with the required tools, from the building of consistent and applicable general equilibrium models to the interpretation of the results that ensue from the adoption of policies. The topics include: model design, model development, computer code examples, calibration and data adjustments, practical policy examples.
Author : Federico Perali,Pasquale Lucio Scandizzo
Publisher : Springer
Page : 342 pages
File Size : 52,5 Mb
Release : 2018-05-02
Category : Business & Economics
ISBN : 9783319585338
This book covers some important topics in the construction of computable general equilibrium (CGE) models and examines use of these models for the analysis of economic policies, their properties, and their implications. Readers will find explanation and discussion of the theoretical structure and practical application of several model typologies, including dynamic, stochastic, micro-macro, and simulation models, as well as different closure rules and policy experiments. The presentation of applications to various country and problem-specific case studies serves to provide an informed and clearly articulated summary of the state of the art and the most important methodological advancements in the field of policy modeling within the framework of general equilibrium analysis. The book is an outcome of a recent workshop of the Italian Development Economists Association attended by a group of leading practitioners involved in the generation of CGE models and research on modeling the economy and policy making. It will be of interest to researchers, professional economists, graduate students, and knowledgeable policy makers.
Author : Peter B. Dixon,Dale Jorgenson
Publisher : Newnes
Page : 1886 pages
File Size : 42,6 Mb
Release : 2013-01-08
Category : Business & Economics
ISBN : 9780444626318
Top scholars synthesize and analyze scholarship on this widely used tool of policy analysis in 27 articles, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top U.S. graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view. Presents coherent summaries of CGE theories that inform major model types Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results Shows how CGE modeling has made a contribution to economic policy
Author : Edward Tower
Publisher : Unknown
Page : 252 pages
File Size : 46,6 Mb
Release : 1990
Category : Economics
ISBN : UOM:39076001123046
Author : Jeroen C.J.M.van den Bergh,Peter Nijkamp,Piet Rietveld
Publisher : Springer Science & Business Media
Page : 396 pages
File Size : 41,9 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9783642800801
Prices and quantities of both stock and flow variables in an economic system are decisively influenced by their spatial coordinates. Any equilibrium state also mirrors the underlying spatial structure and a tatonnement process also incorporates the spatial ramifications of consumer and producer behaviour. The recognition ofthe spatial element in the formation of a general equilibrium in a complex space-economy already dates back to early work of LOsch, Isard and Samuelson, but it reached a stage of maturity thanks to the new inroads made by T. Takayama. This book is devoted to spatial economic equilibrium (SPE) analysis and is meant to pay homage to the founding father of modern spatial economic thinking, Professor Takayama. This book witnesses his great talents in clear and rigorous economic thinking regarding an area where for decades many economists have been groping in the dark. Everybody who wants to study the phenomenon of spatial economic equilibrium will necessarily come across Takayama's work, but this necessity is at the same time a great pleasure. Studying his work means a personal scientific enrichment in a field which is still not completely explored. The present volume brings together recent contributions to spatial equilibrium analysis, written by friends and colleagues of Takayama. The structure of the book is based on four main uses of spatial equilibrium models: (i) the imbedding of spatial flows in the economic environment, related to e.g.
Author : Ross M. Starr
Publisher : Cambridge University Press
Page : 379 pages
File Size : 44,7 Mb
Release : 2011-04-25
Category : Business & Economics
ISBN : 9781139496735
General Equilibrium Theory: An Introduction presents the mathematical economic theory of price determination and resource allocation from elementary to advanced levels, suitable for advanced undergraduates and graduate students of economics. This Arrow–Debreu model (known for two of its most prominent founders, both Nobel Laureates) is the basis of modern price theory and of a wide range of applications. The new edition updates discussion throughout and expands the number and variety of exercises. It offers a revised and extended treatment of core convergence, including the case of non-convex preferences, and introduces the investigation of approximate equilibrium with U-shaped curves and non-convex preferences.
Author : John B. Shoven,John Whalley
Publisher : Cambridge University Press
Page : 316 pages
File Size : 47,8 Mb
Release : 1992-05-29
Category : Business & Economics
ISBN : 0521319862
The central idea underlying this work is to convert the Walrasian general equilibrium structure (formalized in the 1950s by Kenneth Arrow, Gerard Debreu and others) from an abstract representation of an economy into realistic models of actual economies.