Showing 1 - 10 of 104,826
Persistent link: https://www.econbiz.de/10001451527
Persistent link: https://www.econbiz.de/10001769716
Persistent link: https://www.econbiz.de/10003113516
1. Introduction -- 1.1. Scope -- 1.2. Relevant economic notions -- 1.3. Walras Equilibria -- 1.4. Non-Walrasian Equilibria -- 1.5. Dynamics and Stability -- 1.6. Outline -- 2. Mathematical Results in Optimization and Stability -- 2.1. Introduction and notation -- 2.2. Some concepts in analysis...
Persistent link: https://www.econbiz.de/10013519510
This book offers a comprehensive analysis of long run effects of inflation on real activity. The first part presents detailed surveys of the theoretical and empirical literature. The second part introduces a monetary version of an overlapping generations economy with production and a single...
Persistent link: https://www.econbiz.de/10013519659
Persistent link: https://www.econbiz.de/10003902913
Persistent link: https://www.econbiz.de/10008667424
Review, 1960). Tatonnement theory predicts that prices are globally unstable for this economy, i.e. unless prices start at … the competitive equilibrium they oscillate without converging. Anderson et al. (Journal of Economic Theory, 2004) report … convergence. We replicate their experiments and confirm that tatonnement theory predicts the direction of price changes remarkably …
Persistent link: https://www.econbiz.de/10009743925
The classical cobweb theorem is extended to include production lags and price forecasts. Price forecasting based on a longer period has a stabilizing effect on prices. Longer production lags do not necessarily lead to unstable prices; very long lags lead to cycles of constant amplitude. The...
Persistent link: https://www.econbiz.de/10009747400
Persistent link: https://www.econbiz.de/10008859072