The Two Sector Model Of General Equilibrium

Author : Harry G. Johnson
Publisher : Routledge
Page : 122 pages
File Size : 52,5 Mb
Release : 2021-07-29
Category : Business & Economics
ISBN : 9781000421248

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The Two-Sector Model of General Equilibrium by Harry G. Johnson Pdf

Originally published in 1971, this book presents in a lucid form the basic model of distribution in a two-sector general equilibrium system. While this model has been used by many economists, this was the first synoptic exposition of it to become readily available to students. The first part develops the two-sector model and its properties, using the geometrical tools of international trade theory. The second applies the model to some standard problems in the theory of income distribution, including the economics of redistributive taxes and subsidies, of trade union organization, and of minimum wage laws. The third part converts the model into a growth model and develops the conditions for convergence on a steady-state growth path and for the maximization of consumption per head at all points of time.

Author : J. C. Baldry
Publisher : Lawbook Company
Page : 248 pages
File Size : 41,9 Mb
Release : 1980
Category : Business & Economics
ISBN : UVA:X000173021

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General Equilibrium Analysis by J. C. Baldry Pdf

Good,No Highlights,No Markup,all pages are intact, Slight Shelfwear,may have the corners slightly dented, may have slight color changes/slightly damaged spine.

Author : Harry Gordon Johnson
Publisher : Unknown
Page : 118 pages
File Size : 54,7 Mb
Release : 1971
Category : Economics
ISBN : 0202806049

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The Two-sector Model of General Equilibrium by Harry Gordon Johnson Pdf

Author : Harry G. Johnson
Publisher : Routledge
Page : 330 pages
File Size : 43,5 Mb
Release : 2017-07-12
Category : Business & Economics
ISBN : 9781351518017

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General Equilibrium Analysis by Harry G. Johnson Pdf

This is a new kind of textbook in microeconomic theory. In place of the usual concentration on partial equilibrium analysis and discussion of a standard series of topics, the authors seek to introduce the student from the start to the general equilibrium approach to microeconomics, in the form of the two-sector model. This model is then applied to a variety of subjects in different special fields of economic analysis: welfare economics, international trade, public finance and income distribution. This book represents a very different approach to the teaching of micro-economic theory than normally followed, and one that will be of greater long-run value to the serious student of economics. In place of the usual textbook development of the subject as traditionally conceived through topics of increasing complexity and analytical difficulty, using partial equilibrium techniques of analysis, the book concentrates on the exposition and application of a more logically integrated set of tools that have been found of greater use in the analysis of problems arising not only in traditional micro-economics but also in a number of fields of economics that have customarily been hived off into separate specialized advanced courses. General Equilibrium Analysis starts with the description of the two-sector model and how these two sectors are built based on the individual micro-units in which they made up of and how they fit into the concept of the circular flow of income. Subsequent chapters deal with the evaluation of changes in factor endowment, demand preferences and technical progress by means of the model; and the theory of government, which includes both the theory of government expenditure, or public goods, and the theory of government tax and/or subsidy programmes-changes in budgetary scale, tax substitution and expenditure substitution. The model is then extended to an open economy-the so-called "two by two by two"--to consider both the normative effect of inte

Author : Caroline L. Dinwiddy,F. J. Teal
Publisher : Humanities Press
Page : 145 pages
File Size : 45,5 Mb
Release : 1988
Category : Business & Economics
ISBN : 0860030725

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The Two-sector General Equilibrium Model by Caroline L. Dinwiddy,F. J. Teal Pdf

Author : John B. Shoven,John Whalley
Publisher : Cambridge University Press
Page : 316 pages
File Size : 47,9 Mb
Release : 1992-05-29
Category : Business & Economics
ISBN : 0521319862

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Applying General Equilibrium by John B. Shoven,John Whalley Pdf

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.

Author : Bharat R. Hazari,Pasquale M. Sgro
Publisher : Springer Science & Business Media
Page : 274 pages
File Size : 42,5 Mb
Release : 2013-03-09
Category : Business & Economics
ISBN : 9781475733792

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Migration, Unemployment and Trade by Bharat R. Hazari,Pasquale M. Sgro Pdf

Migration, Unemployment and Trade focuses on the issues of migration, welfare and unemployment in a trade and development framework. Several chapters of the book analyze the implications of internal labor mobility in a model designed to highlight its implications for regional welfare, urban unemployment, rural-urban dichotomy and structural adjustment. An important innovation in this work is the disaggregation of the economy and the use of separate utility functions to highlight non-homogeneity of preferences. The book also deals with international mobility of factors in different frameworks. In particular it concentrates on the highly emotive issue of legal and illegal migration. Thus this work incorporates interesting and important features of labor economics and factor mobility into trade and distortion theory.

Author : Melvyn B. Krauss,Harry Gordon Johnson
Publisher : Transaction Publishers
Page : 346 pages
File Size : 44,5 Mb
Release : 2006-12-01
Category : Business & Economics
ISBN : 9780202366258

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General Equilibrium Analysis by Melvyn B. Krauss,Harry Gordon Johnson Pdf

Focusing on microeconomic theory, this book seeks to introduce the student from the start to the general equilibrium approach to microeconomics, in the form of the two-sector model. This model is then applied to a variety of subjects in different special fields of economic analysis.

Author : Edmund S. Phelps
Publisher : Harvard University Press
Page : 444 pages
File Size : 41,5 Mb
Release : 1994
Category : Business & Economics
ISBN : 0674843738

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Structural Slumps by Edmund S. Phelps Pdf

Dissatisfied with the explanations of the business cycle provided by the Keynesian, monetarist, New Keynesian, and real business cycle schools, Edmund Phelps has developed from various existing strands-some modern and some classical--a radically different theory to account for the long periods of unemployment that have dogged the economies of the United States and Western Europe since the early 1970s. Phelps sees secular shifts and long swings of the unemployment rate as structural in nature. That is, they are typically the result of movements in the natural rate of unemployment (to which the equilibrium path is always tending) rather than of long-persisting deviations around a natural rate itself impervious to changing structure. What has been lacking is a "structuralist" theory of how the natural rate is disturbed by real demand and supply shocks, foreign and domestic, and the adjustments they set in motion. To study the determination of the natural rate path, Phelps constructs three stylized general equilibrium models, each one built around a distinct kind of asset in which firms invest and which is important for the hiring decision. An element of these models is the modern economics of the labor market whereby firms, in seeking to dampen their employees' propensities to quit and shirk, drive wages above market-clearing levels-the phenomenon of the "incentive wage"--and so generate involuntary unemployment in labor-market equilibrium. Another element is the capital market, where interest rates are disturbed by demand and supply shocks such as shifts in profitability, thrift, productivity, and the rate of technical progress and population increase. A general-equilibrium analysis shows how various real shocks, operating through interest rates upon the demand for employees and through the propensity to quit and shirk upon the incentive wage, act upon the natural rate (and thus equilibrium path). In an econometric and historical section, the new theory of economic activity is submitted to certain empirical tests against global postwar data. In the final section the author draws from the theory some suggestions for government policy measures that would best serve to combat structural slumps.

Author : W. D. A. Bryant
Publisher : World Scientific
Page : 492 pages
File Size : 40,6 Mb
Release : 2010
Category : Business & Economics
ISBN : 9789812818348

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General Equilibrium by W. D. A. Bryant Pdf

"This book focuses on the foundations of general equilibrium theory, more specifically on the existence, uniqueness, stability, optimality and comparative static properties of equilibrium states. It also explores the question of the empirical relevance of equilibrium states. It highlights a series of 'relationship conditions' which are essential for the existence of equilibrium, but appear in optimality results." -- PUBLISHER WEBSITE.

Author : Robert E. Kuenne
Publisher : Springer
Page : 514 pages
File Size : 42,5 Mb
Release : 1992-06-18
Category : Business & Economics
ISBN : 9781349127528

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General Equilibrium Economics by Robert E. Kuenne Pdf

A collection of published papers in general equilibrium that explore the basic problems of extensive interdependence in models incorporating oligopoly, space, time and money. Robert E. Kuenne has also written "The Theory of General Economic Equilibrium".

Author : Martin D. D. Evans,Viktoria Hnatkovska
Publisher : Unknown
Page : 28 pages
File Size : 44,8 Mb
Release : 2005
Category : Economics
ISBN : OCLC:254699566

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Solving General Equilibrium Models with Incomplete Markets and Many Assets by Martin D. D. Evans,Viktoria Hnatkovska Pdf

This paper presents a new numerical method for solving general equilibrium models with many assets. The method can be applied to models where there are heterogeneous agents, time-varying investment opportunity sets, and incomplete markets. It also can be used to study models where the equilibrium dynamics are non-stationary. We illustrate how the method is used by solving a one-- and two-sector versions of a two--country general equilibrium model with production. We check the accuracy of our method by comparing the numerical solution to the one-sector model against its known analytic properties. We then apply the method to the two-sector model where no analytic solution is available

Author : Hans Gersbach,Hans Haller
Publisher : Springer
Page : 186 pages
File Size : 52,7 Mb
Release : 2017-07-29
Category : Business & Economics
ISBN : 9783319605166

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Groups and Markets by Hans Gersbach,Hans Haller Pdf

This monograph studies multi-member households or, more generally, socio-economic groups from a purely theoretical perspective and within a general equilibrium framework, in contrast to a sizeable empirical literature. The approach is based on the belief that households, their composition, decisions and behavior within a competitive market economy deserve thorough examination. The authors set out to link the formation, composition, decision-making, and stability of households. They develop general equilibrium models of pure exchange economies in which households can have several, typically heterogeneous members and act as collective decision-making units on the one hand and as competitive market participants on the other hand. Moreover, the more advanced models combine traditional exchange (markets for commodities) and matching (markets for people or partners) and develop implications for welfare, social structures, and economic policy. In the field of family economics, Hans Haller and Hans Gersbach have pioneered a ‘market’ approach that applies the tools of general equilibrium theory to the analysis of household behavior. This very interesting book presents an overview of their methods and results. This is an inspiring work. Pierre-André Chiappori, Columbia University, USA The sophisticated, insightful and challenging analysis presented in this book extends the theory of the multi-person household along an important but relatively neglected dimension, that of general equilibrium theory. It also challenges GE theorists themselves to follow Paul Samuelson in taking seriously the real attributes of that fundamental building block, the household, as a social group whose decisions may not satisfy the standard axioms of individual choice. This synthesis and extension of their earlier work by Gersbach and Haller will prove to be a seminal contribution in its field. Ray Rees, LMU Munich, Germany

Author : Frank Hahn,Fabio Petri
Publisher : Routledge
Page : 398 pages
File Size : 46,9 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'.

Author : John Creedy
Publisher : Edward Elgar Publishing
Page : 184 pages
File Size : 41,5 Mb
Release : 1996
Category : Business & Economics
ISBN : STANFORD:36105019258594

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General Equilibrium and Welfare by John Creedy Pdf

Creedy (economics, U. of Melbourne) provides an accessible introduction to general equilibrium analysis and associated welfare economics using a simple two-sector model and only diagrams and simple mathematics. He describes the utility, non- utility, and welfare analysis of exchange with price-taking; trading at disequilibrium prices, the role of the number of traders, and bargaining solutions of exchange without price- taking; and the construction and solution of the two-sector model. Annotation copyright by Book News, Inc., Portland, OR