Leseprobe
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Cycles and Chaos in Economic Equilibrium
Jess Benhabib
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Sozialwissenschaften, Recht, Wirtschaft / Wirtschaft
Beschreibung
In recent years economists have begun to use the techniques of non-linear dynamics to show that some apparently erratic and turbulent economic phenomena reflect subtle underlying patterns. How do cyclic and chaotic dynamics arise in economic models of equilibrium? How can empirical methods be used to detect nonlinearities and cyclic and chaotic structures in economic models? In examining these questions, this book brings together the most significant work that has been done to date in economics-based chaos theory. Selected here particularly for the economist who is not a specialist in chaos theory, the essays, some previously unpublished and others not widely available, describe a new tool for understanding business cycles, stabilization policy, and forecasting. The contributors to the volume are William J. Baumol, Jess Benhabib, Michele Boldrin, William A. Brock, Richard H. Day, Raymond J. Deneckere, Allan Drazen, Jean-Michel Grandmont, Kenneth L. Judd, Bruno Jullien, Guy Laroque, Blake LeBaron, Bruce McNevin, Luigi Montrucchio, Salih Nefti, Kazuo Nishimura, James B. Ramsey, Pietro Reichlin, Philip Rothman, Chera L. Sayers, Jos A. Scheinkman, Wayne Shafer, William Whitesell, Edward N. Wolff, and Michael Woodford.
Kundenbewertungen
General equilibrium theory, Competition (economics), Keynesian economics, Debt, Monetary policy, Elasticity of substitution, Economic problem, Quantity, Output (economics), Real versus nominal value (economics), Money illusion, Budget constraint, Attractor, Preference (economics), Income elasticity of demand, Price elasticity of demand, Neoclassical economics, Monopolistic competition, Time series, Theorem, Nonlinear system, Factor price equalization, Chaos theory, Market clearing, Economic forces, Interest rate, Macroeconomic model, Economics, Production–possibility frontier, Fiscal policy, Price index, Income, Applied economics, Macroeconomics, Unemployment, Stock, Economic equilibrium, Inflation, Production function, Demand curve, Dynamical system, Factor price, Journal of Economic Theory, Market failure, Price fixing, Initial condition, Value (economics), Economic data, Economist, Price elasticity of supply, Estimation, Marginal rate of substitution, Supply (economics), Capital market imperfections, Competitive equilibrium, Business cycle, Market power, Marginal cost, Risk aversion, Utility, Excess demand function, Market economy, Market liquidity, Arbitrage, Profit (economics), Technology, Depreciation, Economic rent, Price Change, Pareto efficiency