New Tools Of Economic Dynamics

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New Tools of Economic Dynamics

Jacek Leskow,Martin Puchet,Lionello F. Punzo
New Tools of Economic Dynamics Book PDF

Author : Jacek Leskow,Martin Puchet,Lionello F. Punzo
Publisher : Springer Science & Business Media
Page : 397 pages
File Size : 42,8 Mb
Release : 2006-05-06
Category : Business & Economics
ISBN : 9783540284444

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New Tools of Economic Dynamics by Jacek Leskow,Martin Puchet,Lionello F. Punzo Pdf

New Tools of Economic Dynamics gives an introduction and overview of recently developed methods and tools, most of them developed outside economics, to deal with the qualitative analysis of economic dynamics. It reports the results of a three-year research project by a European and Latin American network on the intersection of economics with mathematical, statistical, and computational methods and techniques. Focusing upon the evolution and manifold structure of complex dynamic phenomena, the book reviews and shows applications of a variety of tools, such as symbolic and coded dynamics, interacting agents models, microsimulation in econometrics, large-scale system analysis, and dynamical systems theory. It shows the potential of a comprehensive analysis of growth, fluctuations, and structural change along the lines indicated by pioneers like Harrod, Haavelmo, Hicks, Goodwin, Morishima, and it highlights the explanatory power of the qualitative approach they initiated.

Economic Dynamics in Discrete Time

Jianjun Miao
Economic Dynamics in Discrete Time Book PDF

Author : Jianjun Miao
Publisher : MIT Press
Page : 737 pages
File Size : 53,5 Mb
Release : 2014-09-12
Category : Business & Economics
ISBN : 9780262027618

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Economic Dynamics in Discrete Time by Jianjun Miao Pdf

A unified, comprehensive, and up-to-date introduction to the analytical and numerical tools for solving dynamic economic problems. This book offers a unified, comprehensive, and up-to-date treatment of analytical and numerical tools for solving dynamic economic problems. The focus is on introducing recursive methods—an important part of every economist's set of tools—and readers will learn to apply recursive methods to a variety of dynamic economic problems. The book is notable for its combination of theoretical foundations and numerical methods. Each topic is first described in theoretical terms, with explicit definitions and rigorous proofs; numerical methods and computer codes to implement these methods follow. Drawing on the latest research, the book covers such cutting-edge topics as asset price bubbles, recursive utility, robust control, policy analysis in dynamic New Keynesian models with the zero lower bound on interest rates, and Bayesian estimation of dynamic stochastic general equilibrium (DSGE) models. The book first introduces the theory of dynamical systems and numerical methods for solving dynamical systems, and then discusses the theory and applications of dynamic optimization. The book goes on to treat equilibrium analysis, covering a variety of core macroeconomic models, and such additional topics as recursive utility (increasingly used in finance and macroeconomics), dynamic games, and recursive contracts. The book introduces Dynare, a widely used software platform for handling a range of economic models; readers will learn to use Dynare for numerically solving DSGE models and performing Bayesian estimation of DSGE models. Mathematical appendixes present all the necessary mathematical concepts and results. Matlab codes used to solve examples are indexed and downloadable from the book's website. A solutions manual for students is available for sale from the MIT Press; a downloadable instructor's manual is available to qualified instructors.

Complex Systems Approach to Economic Dynamics

Abraham C.-L. Chian
Complex Systems Approach to Economic Dynamics Book PDF

Author : Abraham C.-L. Chian
Publisher : Springer Science & Business Media
Page : 109 pages
File Size : 48,8 Mb
Release : 2007-08-17
Category : Business & Economics
ISBN : 9783540397533

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Complex Systems Approach to Economic Dynamics by Abraham C.-L. Chian Pdf

Statistical analysis of stock markets and foreign exchange markets has demonstrated the intermittent nature of economic time series. A nonlinear model of business cycles is able to simulate intermittency arising from order-chaos and chaos-chaos transitions. This monograph introduces new concepts of unstable periodic orbits and chaotic saddles, which are unstable structures embedded in a chaotic attractor and responsible for economic intermittency.

Structural Economic Dynamics

Luigi Pasinetti
Structural Economic Dynamics Book PDF

Author : Luigi Pasinetti
Publisher : Cambridge University Press
Page : 212 pages
File Size : 44,9 Mb
Release : 2006-11-02
Category : Business & Economics
ISBN : 0521029767

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Structural Economic Dynamics by Luigi Pasinetti Pdf

This book is a theoretical investigation of the influence of human learning on the development through time of a 'pure labour' economy. The theory proposed is a simple one, but aims to grasp the essential features of all industrial economies. Economists have long known that two basic phenomena lie at the root of long-term economic movements in industrial societies: capital accumulation and technical progress. Attention has been concentrated on the former. In this book, by contrast, technical progress is assigned the central role. Within a multi-sector framework, the author examines the structural dynamics of prices, production and employment (implied by differentiated rates of productivity growth and expansion of demand) against a background of 'natural' relations. He also considers a number of institutional problems. Institutional and social learning, know-how, and the diffusion of knowledge emerge as the decisive factors accounting for the success and failure of industrial societies.

Business Cycle Dynamics

Iryna Sushko
Business Cycle Dynamics Book PDF

Author : Iryna Sushko
Publisher : Springer Science & Business Media
Page : 336 pages
File Size : 42,9 Mb
Release : 2006-08-13
Category : Business & Economics
ISBN : 9783540321682

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Business Cycle Dynamics by Iryna Sushko Pdf

Business cycle theory has been one of the fastest growing fields in modern nonlinear economic dynamics. This book presents new mathematical methods for global analysis which have not previously been available in this easily accessible form. In addition it contains a presentation of full analyses of several models left open in the 1950s when the tools then available did not permit more systematic analysis.

Economic Dynamics and Information

Jaroslav Zajac
Economic Dynamics and Information Book PDF

Author : Jaroslav Zajac
Publisher : Springer Science & Business Media
Page : 274 pages
File Size : 49,8 Mb
Release : 2007-08-01
Category : Business & Economics
ISBN : 9783540326953

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Economic Dynamics and Information by Jaroslav Zajac Pdf

This book analyzes the existence of equilibria in economies having a measured space of agents and a continuum of agents and commodities. Excessive homogeneity with respect to agent productivity leads to instability and non-uniqueness of a given stationary state and the indeterminacy of the corresponding stationary state equilibrium. Sufficient heterogeneity leads to global saddle-path stability, uniqueness of a given stationary state and the global uniqueness of the corresponding equilibrium.

Dynamics of Industry Growth

Jati Sengupta
Dynamics of Industry Growth Book PDF

Author : Jati Sengupta
Publisher : Springer Science & Business Media
Page : 182 pages
File Size : 46,8 Mb
Release : 2012-05-02
Category : Business & Economics
ISBN : 9781461438526

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Dynamics of Industry Growth by Jati Sengupta Pdf

Economic growth of a country depends on its industries. The focus of modern growth theory is basically macroeconomics, although neoclassical models use competitive markets and the optimization behavior of households and firms in general equilibrium framework. The emphasis here is on industry growth, where the microfoundations of industry are analyzed in terms of economic efficiency. The various linkages which link firm growth with the industry growth are discerned here under various market structures both competitive and monopolistic. The role of information in facilitating market signals and allowing the adoption of new processes has been especially emphasized in this volume. Many issues of market failure and the suboptimality of competitive equilibria are due to incomplete and imperfect information structures and we need a comprehensive theory of information structures underlying the process of industry growth and its dynamics. This book will be of interest to economists studying economic and industry growth and innovation.

Economic Dynamics, second edition

John Stachurski
Economic Dynamics second edition Book PDF

Author : John Stachurski
Publisher : MIT Press
Page : 395 pages
File Size : 49,9 Mb
Release : 2022-08-16
Category : Business & Economics
ISBN : 9780262544771

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Economic Dynamics, second edition by John Stachurski Pdf

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.

Computable, Constructive & Behavioural Economic Dynamics

Stefano Zambelli
Computable Constructive Behavioural Economic Dynamics Book PDF

Author : Stefano Zambelli
Publisher : Routledge
Page : 812 pages
File Size : 50,5 Mb
Release : 2010-02-25
Category : Business & Economics
ISBN : 9781135272524

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Computable, Constructive & Behavioural Economic Dynamics by Stefano Zambelli Pdf

The book contains thirty original articles dealing with important aspects of theoretical as well as applied economic theory. While the principal focus is on: the computational and algorithmic nature of economic dynamics; individual as well as collective decision process and rational behavior, some contributions emphasize also the importance of classical recursion theory and constructive mathematics for dynamical systems, business cycles theories, growth theories, and others are in the area of history of thought, methodology and behavioural economics. The contributors range from Nobel Laureates to the promising new generation of innovative thinkers. This volume is also a Festschrift in honour of Professor Kumaraswamy Vela Velupillai, the founder of Computable Economics, a growing field of research where important results stemming from classical recursion theory and constructive mathematics are applied to economic theory. The aim and hope is to provide new tools for economic modelling. This book will be of particular appeal to postgraduate students and scholars in one or more of the following fields: computable economics, business cycles, macroeconomics, growth theories, methodology, behavioural economics, financial economics, experimental and agent based economics. It might be also of importance to those interested on the general theme of algorithmic foundations for social sciences.

Computable, Constructive & Behavioural Economic Dynamics

Stefano Zambelli
Computable Constructive Behavioural Economic Dynamics Book PDF

Author : Stefano Zambelli
Publisher : Routledge
Page : 464 pages
File Size : 48,7 Mb
Release : 2010-02-25
Category : Business & Economics
ISBN : 9781135272531

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Computable, Constructive & Behavioural Economic Dynamics by Stefano Zambelli Pdf

The book contains thirty original articles dealing with important aspects of theoretical as well as applied economic theory. While the principal focus is on: the computational and algorithmic nature of economic dynamics; individual as well as collective decision process and rational behavior, some contributions emphasize also the importance of classical recursion theory and constructive mathematics for dynamical systems, business cycles theories, growth theories, and others are in the area of history of thought, methodology and behavioural economics. The contributors range from Nobel Laureates to the promising new generation of innovative thinkers. This volume is also a Festschrift in honour of Professor Kumaraswamy Vela Velupillai, the founder of Computable Economics, a growing field of research where important results stemming from classical recursion theory and constructive mathematics are applied to economic theory. The aim and hope is to provide new tools for economic modelling. This book will be of particular appeal to postgraduate students and scholars in one or more of the following fields: computable economics, business cycles, macroeconomics, growth theories, methodology, behavioural economics, financial economics, experimental and agent based economics. It might be also of importance to those interested on the general theme of algorithmic foundations for social sciences.

Economic Evolution and Equilibrium

Marco Lehmann-Waffenschmidt
Economic Evolution and Equilibrium Book PDF

Author : Marco Lehmann-Waffenschmidt
Publisher : Springer Science & Business Media
Page : 272 pages
File Size : 51,7 Mb
Release : 2007-06-10
Category : Business & Economics
ISBN : 9783540686644

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Economic Evolution and Equilibrium by Marco Lehmann-Waffenschmidt Pdf

This work uses various model frameworks to study the evolution of equilibria in an open loop evolving economy in which the model characteristics evolve without any directional restrictions except for continuity. Applying mathematical methods, it is shown that equilibria can always be adapted in a piecewise gradual, non bang-bang way.

Learning in Economic Systems with Expectations Feedback

Jan Wenzelburger
Learning in Economic Systems with Expectations Feedback Book PDF

Author : Jan Wenzelburger
Publisher : Springer Science & Business Media
Page : 181 pages
File Size : 50,7 Mb
Release : 2006-09-22
Category : Business & Economics
ISBN : 9783540380504

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Learning in Economic Systems with Expectations Feedback by Jan Wenzelburger Pdf

Recently economists have more and more focussed on scenarios in which agents' views of the world may be erroneous. These notes introduce the concept of perfect forecasting rules which provide best least-squares predictions along the evolution of an economic system. The framework for nonparametric adaptive learning schemes is developed and it is argued that plausible learning schemes should aim at estimating a perfect forecasting rule taking into account the correct feedback structure of an economy. A link is provided between the traditional rational-expectations view and recent behavioristic approaches.

Tourism Economics

Álvaro Matias,Peter Nijkamp,Manuela Sarmento
Tourism Economics Book PDF

Author : Álvaro Matias,Peter Nijkamp,Manuela Sarmento
Publisher : Springer Science & Business Media
Page : 293 pages
File Size : 52,5 Mb
Release : 2011-07-28
Category : Business & Economics
ISBN : 3790827258

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Tourism Economics by Álvaro Matias,Peter Nijkamp,Manuela Sarmento Pdf

The assessment of local, regional or national impacts of an influx of tourists – of different kind and origin – has in recent years become a new challenge for economics research in the tourism sector. There is a clear need to develop solid methodologies through which the socio-economic impacts of tourism can be assessed. Tourism impact assessment – as a systematic approach to the estimation of socio-economic effects of tourism on relevant parts of the economy – has become a timely response to the need for appropriate information for stakeholders, both public and private. The present volume brings together a set of recent impact studies – of both a theoretical-methodological and an applied policy-oriented nature – , which have been selected on the basis of their originality or novel contribution to the research in this field.

A Compendium of Italian Economists at Oxbridge

Mauro Baranzini,Amalia Mirante
A Compendium of Italian Economists at Oxbridge Book PDF

Author : Mauro Baranzini,Amalia Mirante
Publisher : Springer
Page : 288 pages
File Size : 47,8 Mb
Release : 2016-09-21
Category : Business & Economics
ISBN : 9783319322193

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A Compendium of Italian Economists at Oxbridge by Mauro Baranzini,Amalia Mirante Pdf

This study examines five decades of Italian economists who studied or researched at the Universities of Oxford and Cambridge between the years 1950 and 2000. Providing a detailed list of Italian economists associated with Hicks, Harrod, Bacharach, Flemming, Mirrlees, Sen and other distinguished dons, the authors examine eleven research lines, including the Sraffa and the neo-Ricardian school, the post-Keynesian school and the Stone’s and Goodwin’s schools. Baranzini and Mirante trace the influence of the schools in terms of 1) their fundamental role in the evolution of economic thought; 2) their promotion of four key controversies (on the measurement of technical progress, on capital theory, on income distribution and on the inter-generational transmission of wealth); 3) the counter-flow of Oxbridge scholars to academia in Italy, and 4) the invigoration of a third generation of Italian economists researching or teaching at Oxbridge today. A must-read for all those interested in the way Italian and British research has shaped the study and teaching of economics.

Advances in Artificial Economics

Charlotte Bruun
Advances in Artificial Economics Book PDF

Author : Charlotte Bruun
Publisher : Springer Science & Business Media
Page : 292 pages
File Size : 41,6 Mb
Release : 2007-05-19
Category : Computers
ISBN : 9783540372493

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Advances in Artificial Economics by Charlotte Bruun Pdf

This book is based on presentations at AE’2006 (Aalborg, Denmark) – the second symposium on Artificial Economics. As a new constructive simulation method, Agent-Based Computational Economics (ACE) has in recent years proven its strength and applicability. Coverage in this volume extends to well known questions of economics, like the existence of market efficiency, and to questions raised by new analytical tools, for example networks of social interaction.