This volume contains six essays that develop and/or apply rational expectations equilibrium inventory models to study the time series behavior of production, sales, prices, and inventories at the industry level. This is an extension of the inventory model of Holt, Modigliani, Muth and Simon...

This book is primarily a critical survey of small-case, theoretical macro models that attempts to analyze the cyclical behavior of modern economies. The authors emphasize the role of the labor market, which is treated very differently in such models. They show how the development of business...

This book is motivated by the disagreement among Monetarist, Keynesian, and New Classical economists about the short-term determinants of output, unemployment, and inflation. It exposes the reader to a synthesis modeling approach which allows the derivation of the opposing theories as special...

This book presents theoretical studies on several topics related to production structure and international trade. The topics selected are variable returns to scale, public intermediate goods and natural resources. The analysis of the stability of trade equilibrium includes some new ideas. All...

This book develops a general solution concept for strategic games which resolves strategic uncertainty completely. The concept is described by a mathematically formulated solution procedure and illustrated by applying it to many interesting examples. A long nontechnical introduction tries to...

This book deals with the problems of redistribution if different kinds of taxes are used as instruments. It throws light on the equity, efficiency and insurance aspects of taxation, and treats the topic at a high theoretical level. Using two ordinal equity criteria, it is shown in the first part...

This book is a contribution to the area of dynamic models of the firm. In Chapter 1, a general investment decision rule based on the concept of net present value of marginal investment is developed. In chapter 2, the rule is applied in deterministic dynamic models of the firm. This rule can be...

This book includes the results of an International Workshop held at the Department of Political Economy of the University of Siena in December 1986. It focuses on the presentation, discussion, and comparison of two most interesting theories proposed for the explanation of long waves, namely the...