The General Economic Theory

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The General Economic Theory

Wei-Bin Zhang
The General Economic Theory Book PDF

Author : Wei-Bin Zhang
Publisher : Springer Nature
Page : 351 pages
File Size : 47,6 Mb
Release : 2020-08-27
Category : Business & Economics
ISBN : 9783030562045

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The General Economic Theory by Wei-Bin Zhang Pdf

This book develops a general economic theory that integrates various economic theories and ideas and establishes important relationships between economic variables that are not formally recognized in the economic literature. The author demonstrates how the basic model is integrated with neoclassical growth theory, Walrasian general equilibrium theory, and Ricardian distribution theory, and how these theories can be incorporated through a single set of equations with a microeconomic basis. The book offers new insights into income and wealth distribution between heterogeneous households, racial and national differences in growth and development, interdependence between different stock variables with portfolio choices among different markets. It will appeal to scholars of economists interested in an integrative theoretical approach to this discipline.

General Equilibrium

Yves Balasko
General Equilibrium Book PDF

Author : Yves Balasko
Publisher : Unknown
Page : 0 pages
File Size : 45,8 Mb
Release : 2020
Category : Equilibrium (Economics).
ISBN : 1788210409

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General Equilibrium by Yves Balasko Pdf

Written by one of the key pioneers in the field, this book offers an accessible introduction to general equilibrium theory. Written for undergraduates taking courses in economic theory and modelling who have limited mathematical proficiency, the book fills a gap between forbidding technical expositions and the less rigorous elementary ones.

General Equilibrium Theory of Value

Yves Balasko
General Equilibrium Theory of Value Book PDF

Author : Yves Balasko
Publisher : Princeton University Press
Page : 192 pages
File Size : 40,7 Mb
Release : 2011-07-25
Category : Business & Economics
ISBN : 9781400838912

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General Equilibrium Theory of Value by Yves Balasko Pdf

The concept of general equilibrium, one of the central components of economic theory, explains the behavior of supply, demand, and prices by showing that supply and demand exist in balance through pricing mechanisms. The mathematical tools and properties for this theory have developed over time to accommodate and incorporate developments in economic theory, from multiple markets and economic agents to theories of production. Yves Balasko offers an extensive, up-to-date look at the standard theory of general equilibrium, to which he has been a major contributor. This book explains how the equilibrium manifold approach can be usefully applied to the general equilibrium model, from basic consumer theory and exchange economies to models with private ownership of production. Balasko examines properties of the standard general equilibrium model that are beyond traditional existence and optimality. He applies the theory of smooth manifolds and mappings to the multiplicity of equilibrium solutions and related discontinuities of market prices. The economic concepts and differential topology methods presented in this book are accessible, clear, and relevant, and no prior knowledge of economic theory is necessary. General Equilibrium Theory of Value offers a comprehensive foundation for the most current models of economic theory and is ideally suited for graduate economics students, advanced undergraduates in mathematics, and researchers in the field.

General Equilibrium, Capital and Macroeconomics

Fabio Petri
General Equilibrium Capital and Macroeconomics Book PDF

Author : Fabio Petri
Publisher : Edward Elgar Publishing
Page : 400 pages
File Size : 41,7 Mb
Release : 2004-01-01
Category : Business & Economics
ISBN : 1781008302

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General Equilibrium, Capital and Macroeconomics by Fabio Petri Pdf

'Fabio Petri has been a persistent critic of marginalist theories of value and distribution. In this provocative book, he presents an extensive scrutiny of the reasons why many economists are unsatisfied with the Neo-Walrasian approach to General Equilibrium theory and why some reject it altogether. General Equilibrium, Capital and Macroeconomics throws down a challenge to all economic theorists.' - Neri Salvadori, University of Pisa, Italy 'General Equilibrium, Capital and Macroeconomics is a thorough and deep book. It contains a remarkably clear and precise statement of the conceptual, methodological and analytical difficulties besetting the demand and supply approach to economics as it is advocated in partial and general equilibrium models, old and new, micro and macro. This work covers essential parts of modern economics, it is well written and the subject matter is carefully arranged. The book will be of interest to a wide range of economists.' - Heinz D. Kurz, University of Graz, Austria This book argues that the shift in general equilibrium theory, from its early long-period to the modern very-short-period versions, has had very important consequences which are insufficiently appreciated by large parts of the economics profession. This shift has produced new difficulties, and has undermined central tenets of neoclassical macroeconomic theory (such as the negative dependence of aggregate investment on the interest rate, or the existence of a downward-sloping demand curve for labour) which had their basis in the long-period versions where capital was treated as a single factor.

The General Theory of Employment, Interest, and Money

John Maynard Keynes
The General Theory of Employment Interest and Money Book PDF

Author : John Maynard Keynes
Publisher : Springer
Page : 404 pages
File Size : 46,6 Mb
Release : 2018-07-20
Category : Business & Economics
ISBN : 9783319703442

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The General Theory of Employment, Interest, and Money by John Maynard Keynes Pdf

This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.

General Equilibrium

W. D. A. Bryant
General Equilibrium Book PDF

Author : W. D. A. Bryant
Publisher : World Scientific
Page : 492 pages
File Size : 46,9 Mb
Release : 2010
Category : Business & Economics
ISBN : 9789812818355

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General Equilibrium by W. D. A. Bryant Pdf

General Equilibrium Theory studies the properties and operation of free market economies. The field is a response to a series of questions originally outlined by Leon Walras about the operation of markets and posed by Frank Hahn in the following way: OCyDoes the pursuit of private interest, through a system of interconnected deregulated markets, lead not to chaos but to coherence OCo and if so, how is that achieved?OCO This is always an apt question, but particularly so given the OCyGlobal Financial CrisisOCO that emerged from the operation of market economies in the Americas and Europe in mid to late 2008. The answer that General Equilibrium Theory provides to the Walras-Hahn question is that, under certain conditions coherence is possible, while under certain other conditions chaos, in various forms, is likely to prevail. The conditionality of either outcome is not always well understood OCo neither by proponents of, or antagonists to, the OCyfree market positionOCO. Consequently, this book attempts to show something of what General Equilibrium Theory has to say about the wisdom or otherwise of always relying on OCymarket forcesOCO to manage complex socio-economic systems. Sample Chapter(s). Chapter 1: General Equilibrium Theory: An Overview (138 KB). Contents: General Equilibrium Theory: An Overview; Existence of Equilibrium: Sufficient Conditions; Existence of Equilibrium: Necessary Conditions; Equilibrium and Irreducibility: Some Empirical Evidence; Existence of Equilibrium Under Alternative Income Conditions; Existence of Walrasian Equilibrium in Some NonOCoArrow-Debreu Environments; Uniqueness of Equilibrium; Stability of Equilibrium; Optimality of Equilibrium; Comparative Statics of Equilibrium States; Empirical Evidence on General Equilibrium; General Equilibrium Theory in Retrospect. Readership: Advanced undergraduates and graduate students in economics; economists interested in economic theory."

Foundations of the Theory of General Equilibrium

Yves Balasko
Foundations of the Theory of General Equilibrium Book PDF

Author : Yves Balasko
Publisher : World Scientific
Page : 280 pages
File Size : 54,7 Mb
Release : 2016-05-11
Category : Business & Economics
ISBN : 9789814651721

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Foundations of the Theory of General Equilibrium by Yves Balasko Pdf

The economic theory of general equilibrium underpins the most important models used in economic theory in general and in its more specialized areas such as macroeconomics, international trade, environmental economics, growth theory, and developmental economics. In Foundations of the Theory of General Equilibrium, leading academic scholar, Yves Balasko offers a good introduction to the economic theory of general equilibrium and makes use of various mathematical tools as intuitive and easy as possible. The second half of the book addresses properties of the general equilibrium model that are still at the frontier of current research. These properties deal with the characterization of economies with a unique equilibrium and, more generally, with the relationships between the number of equilibria and the fundamentals of an economy. Contents:The Exchange ModelA Simple Linear Version of the Exchange ModelThe Exchange Model with Two Goods and Two ConsumersConsumer TheoryThe Equilibrium ManifoldThe Natural ProjectionEquilibrium Analysis for Fixed Total ResourcesThe Natural Projection and Envelope TheoryA Duality TheorySeveral Extensions of the General Equilibrium Model Readership: Graduate students in mathematics who want to specialize in economics and mathematical economics; researchers and professionals who will find in this book a detailed account of some of the most current developments of a difficult but essential theory.

Money and General Equilibrium Theory

Pascal Bridel
Money and General Equilibrium Theory Book PDF

Author : Pascal Bridel
Publisher : Edward Elgar Publishing
Page : 232 pages
File Size : 51,7 Mb
Release : 1997
Category : Business & Economics
ISBN : STANFORD:36105022825553

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Money and General Equilibrium Theory by Pascal Bridel Pdf

Bridel (economics, U. of Lausanne, Switzerland) reconstructs the pioneering attempts of Leon Walras (1834-1910) and Vilfredo Pareto (1848-1923) to coordinate money and general equilibrium theory. He argues that the very logic of the original static general equilibrium model excludes the integration of monetary and value theory, shows how money is prevented from playing its essential role as a social institution in allowing monetary exchanges between individuals, and calls for some radical re- thinking about the theoretical construction on which much modern economic theory is based. Annotation copyrighted by Book News, Inc., Portland, OR

The Flawed Foundations of General Equilibrium Theory

Frank Ackerman,Alejandro Nadal,Kevin P. Gallagher
The Flawed Foundations of General Equilibrium Theory Book PDF

Author : Frank Ackerman,Alejandro Nadal,Kevin P. Gallagher
Publisher : Routledge
Page : 237 pages
File Size : 49,9 Mb
Release : 2004-06-24
Category : Business & Economics
ISBN : 9781135997380

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The Flawed Foundations of General Equilibrium Theory by Frank Ackerman,Alejandro Nadal,Kevin P. Gallagher Pdf

This book, as the title suggests, explains how General equilibrium, the dominant conceptual framework in mainstream economics, describes a perfectly impossible world. Even with its counterfactual assumptions taken for granted, it fails on many levels. Under the impressive editorship of Ackerman and Nadal, this book will appeal to students and researchers in economics and related social science disciplines.

The Theory of General Economic Equilibrium

Andreu Mas-Colell
The Theory of General Economic Equilibrium Book PDF

Author : Andreu Mas-Colell
Publisher : Cambridge University Press
Page : 396 pages
File Size : 43,6 Mb
Release : 1985
Category : Business & Economics
ISBN : 0521388708

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The Theory of General Economic Equilibrium by Andreu Mas-Colell Pdf

This book brings together the author's pioneering work, written over the last twenty years, on the use of differential methods in general equilibrium theory.

General Equilibrium Theory

Ross M. Starr
General Equilibrium Theory Book PDF

Author : Ross M. Starr
Publisher : Cambridge University Press
Page : 280 pages
File Size : 40,6 Mb
Release : 1997-07-13
Category : Business & Economics
ISBN : 0521564735

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General Equilibrium Theory by Ross M. Starr Pdf

General Equilibrium Theory: An Introduction treats the classic Arrow-Debreu general equilibrium model in a form accessible to graduate students and advanced undergraduates in economics and mathematics. Topics covered include mathematical preliminaries, households and firms, existence of general equilibrium, Pareto efficiency of general equilibrium, the First and Second Fundamental Theorems of Welfare Economics, the core and core convergences, future markets over time and contingent commodity markets under uncertainty. Demand, supply, and excess demand appear first as (point-valued) functions, then optionally as (set-valued) correspondences. The mathematics presented (with elementary proofs of the theorems) includes a real analysis, the Brouwer fixed point theorem, and separating and supporting hyperplane theorems. Optional chapters introduce the existence of equilibrium with set-valued supply and demand, the mathematics of upper and lower hemicontinuous correspondences, and the Kakutani fixed point theorem. The treatment emphasizes clarity and accessibility to the student through use of examples and intuition.

General Equilibrium, Growth, and Trade

Jerry R. Green,Josè Alexandre Scheinkman
General Equilibrium Growth and Trade Book PDF

Author : Jerry R. Green,Josè Alexandre Scheinkman
Publisher : Academic Press
Page : 422 pages
File Size : 43,9 Mb
Release : 2014-05-10
Category : Business & Economics
ISBN : 9781483271453

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General Equilibrium, Growth, and Trade by Jerry R. Green,Josè Alexandre Scheinkman Pdf

General Equilibrium, Growth, and Trade: Essays in Honor of Lionel McKenzie provides information pertinent to the three main areas of Professor McKenzie's scientific research, namely, international trade, economic growth, and general equilibrium theory. This book highlights the main aspects of McKenzie's work. Organized into three parts encompassing 21 chapters, this book begins with an overview of the regularizing effects of aggregation over nonregular microrelations. This text then examines the theory of a multiperiod monopolist incurring nonseparable labor adjustment costs, which is developed when investment is irreversible. Other chapters consider the behavior of a price-maker in a competitive market as a preliminary step to a more complete analysis of pure competition. This book discusses as well the effects of uncertainty on optimal decisions, which constitutes an increasingly essential area of economic research. The final chapter deals with the general equilibrium macroeconomic model. This book is a valuable resource for economists and economic theorists.

Economic Exchange and Social Organization

Robert P. Gilles
Economic Exchange and Social Organization Book PDF

Author : Robert P. Gilles
Publisher : Springer Science & Business Media
Page : 319 pages
File Size : 53,5 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461312857

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Economic Exchange and Social Organization by Robert P. Gilles Pdf

This book aims to develop an institutional approach to general economic equi librium. Thus far, institutional economics has essentially been confined to purely verbal discourse. Here I argue the case that general equilibrium theory forms a well rounded basis for the development of an institutional economic the ory. The fundamental economic trade mechanism underlying this refocusing is that of the Edgeworthian barter mechanism modelled through the equilibrium notion of the core of an economy. There is an extensive literature that links the core with the Walrasian price mechanism, which is explored in this book. Next I develop an alternative model of explicitly nonsovereign trade in the setting of an institutionally structured economy. In this book the core and several of its extensions are considered to be descriptions of the equilibrium allocations resulting from institutionalized barter processes, thereby providing a basis of an institutionally based economic theory. Traditionally finite economies have been assessed as the most natural represen tations of real life economies, in particular of market economies. Many funda mental insights have been developed. In the first half of the book I summarize the most influential and important results in the literature on finite economies regarding the relationship of the Walrasian model of a perfectly competitive market system and the Edgeworthian theory of individually based, pure barter processes. I use the axiomatic method as the main methodological framework according to which I construct my models.

General Equilibrium

Frank Hahn,Fabio Petri
General Equilibrium Book PDF

Author : Frank Hahn,Fabio Petri
Publisher : Routledge
Page : 554 pages
File Size : 44,8 Mb
Release : 2003-09-02
Category : Business & Economics
ISBN : 9781134433612

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General Equilibrium by Frank Hahn,Fabio Petri Pdf

In recent years certain leading figures in the world of economics have called the usefulness of general equilibrium theory into question. This superb new book brings together leading economic theorists with important contributions to the ongoing debate. General equilibrium theorists including Michio Morishima, Michael Magill and Martine Quinzii debate strengths, weaknesses and possible futures with leading thinkers such as Herb Gintis, Pierangelo Garegnani and Duncan Foley, who seek to explain the rejection of general equilibrium. Uniquely, none of the contributors portray general equilibrium theory as the perfect guide to market economies actual behaviour, but rather illustrate that there is insufficient acquaintance with existing alternatives and that general equilibrium theory is often used as an ideal 'benchmark'.

Ricardo's Economics

Michio Morishima
Ricardo s Economics Book PDF

Author : Michio Morishima
Publisher : Cambridge University Press
Page : 268 pages
File Size : 42,6 Mb
Release : 1990-10-25
Category : Business & Economics
ISBN : 0521396883

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Ricardo's Economics by Michio Morishima Pdf

This book, together with Marx's Economic and Walras' Economics, completes a sequence of titles by Professor Morishima on the first generation of scientific economists. The author's assessment of Ricardo differs substantially from the established views adopted by economists and historians of economic thought. While economists such as Pasinetti, Caravale and Samuelson have concentrated on macroeconomic interpretations of Ricardo, and historians of economic thought have emphasised his labour theory of value, Morishima takes a different course. In this book the author concentrates on Ricardo's main work, The Principles, and shows that his economics is the prototype of mathematical economies without the symbols and formulae. Morishima then translates Ricardo's economics into mathematical language to find a general equilibrium system (very similar to Walras') concealed within. The analysis also contradicts the conventional view that marginalism emerged in opposition to classical economics, showing instead that Ricardian analysis is firmly based on marginalist principles, using prices, wages and profits rather than labour values. The book ends with a discussion of the historical character of economic theory and an attempt to specify the epoch of Ricardian economics.