Determinacy of Equilibrium in Infinite Horizon Economics (Classic Reprint): A Perspective: A Perspective (Classic Reprint) - Brossura
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This book delves into the complex world of economic models and market equilibrium, addressing a fundamental issue of indeterminacy in the outcomes of these models. The author, an established expert in the field, provides an accessible and comprehensive analysis of the work of Muller and Woodford, whose research laid bare the potential for a wide range of equilibrium outcomes even within precisely defined economic models. The book highlights the significance of this indeterminacy, as it can render comparative statics a crucial tool for understanding the effects of parameter changes on equilibrium values impossible. By examining the work of Muller and Woodford, encompassing both stationary overlapping generations models with production and infinite-lived agents, the author provides valuable insights into the conditions under which indeterminacy may arise. This detailed analysis is situated within the broader context of the overlapping generations literature, optimal growth literature, and macroeconomic theory, demonstrating the relevance of Muller and Woodford's findings to a wide range of economic inquiry. The author skillfully presents complex concepts with clarity, guiding readers through the technicalities to grasp the essence of indeterminacy and its implications for economic modeling. The book concludes by emphasizing the importance of addressing indeterminacy in economic models, as it can significantly impact the reliability and effectiveness of these models in policy-making and economic analysis. By shedding light on the conditions that lead to indeterminacy and exploring potential solutions, this book is a valuable resource for economists, researchers, and anyone seeking to understand the complexities of economic equilibrium.
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Determinacy of Equilibrium in Infinite Horizon Economics: A Perspective
Print on DemandDa: Forgotten Books, London, Regno Unito
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Paperback. Condizione: New. Print on Demand. This book delves into the complex world of economic models and market equilibrium, addressing a fundamental issue of indeterminacy in the outcomes of these models. The author, an established expert in the field, provides an accessible and comprehensive analysis of the work of Muller and Woodford, whose research laid bare the potential for a wide range of equilibrium outcomes even within precisely defined economic models. The book highlights the significance of this indeterminacy, as it can render comparative staticsâ"a crucial tool for understanding the effects of parameter changes on equilibrium valuesâ"impossible. By examining the work of Muller and Woodford, encompassing both stationary overlapping generations models with production and infinite-lived agents, the author provides valuable insights into the conditions under which indeterminacy may arise. This detailed analysis is situated within the broader context of the overlapping generations literature, optimal growth literature, and macroeconomic theory, demonstrating the relevance of Muller and Woodford's findings to a wide range of economic inquiry. The author skillfully presents complex concepts with clarity, guiding readers through the technicalities to grasp the essence of indeterminacy and its implications for economic modeling. The book concludes by emphasizing the importance of addressing indeterminacy in economic models, as it can significantly impact the reliability and effectiveness of these models in policy-making and economic analysis. By shedding light on the conditions that lead to indeterminacy and exploring potential solutions, this book is a valuable resource for economists, researchers, and anyone seeking to understand the complexities of economic equilibrium. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Codice articolo 9781330689714_0
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Determinacy of Equilibrium in Infinite Horizon Economics A Perspective Classic Reprint
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PAP. Condizione: New. New Book. Shipped from UK. Established seller since 2000. Codice articolo LW-9781330689714
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Determinacy of Equilibrium in Infinite Horizon Economics A Perspective Classic Reprint
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PAP. Condizione: New. New Book. Shipped from UK. Established seller since 2000. Codice articolo LW-9781330689714
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