An Overview of a New Overlapping Generations Model with an Example Application in Policy Analysis
Title | An Overview of a New Overlapping Generations Model with an Example Application in Policy Analysis PDF eBook |
Author | |
Publisher | |
Pages | 12 |
Release | 2020 |
Genre | Economic forecasting |
ISBN |
Overlapping Generations
Title | Overlapping Generations PDF eBook |
Author | Stephen E. Spear |
Publisher | Emerald Group Publishing |
Pages | 261 |
Release | 2023-09-04 |
Genre | Business & Economics |
ISBN | 1837530521 |
The 800 pound gorilla in the room of macroeconomics is the question of why the overlapping generations model didn’t become the central workhorse model for macroeconomics, as opposed to the neoclassical growth model. The authors here explore the co-evolution of the two models.
The Role of Overlapping-generations Models in Monetary Economics
Title | The Role of Overlapping-generations Models in Monetary Economics PDF eBook |
Author | Bennett T. McCallum |
Publisher | |
Pages | 74 |
Release | 1982 |
Genre | Equilibrium (Economics). |
ISBN |
The main arguments of this paper can be summarized as follows. (1) The overlapping-generations (OG) structure provides a useful framework for the analysis of macroeconomic issues involving intertemporal allocation. (2) As a "model of money," the basic OG setup -- which excludes cash-in-advance or money-in-the-utility-function (MIUF) features -- is inadequate and misleading because it neglects the medium-of-exchange property that is the distinguishing characteristic of money. (3) That this neglect obtains is verified by noting that, in contrast with an axiomatic "traditional presumption," the same aggregate leisure/consumption bundles are available in equilibria in which "money" is valued and valueless. (4) That the model may be misleading is demonstrated by examples in which three of its most striking properties --tenuousness of monetary equilibrium, optimality of zero money growth, and price level invariance to open-market exchanges -- disappear in the presence of modifications designed to reflect the medium-of-exchange property. (5) There is no compelling reason why cash-in-advance, MIUF, or other appendages should not be used in conjunction with the OG framework
An Overlapping Generations Model with Endogenous Policy
Title | An Overlapping Generations Model with Endogenous Policy PDF eBook |
Author | Michael Bruce Loewy |
Publisher | |
Pages | 164 |
Release | 1986 |
Genre | |
ISBN |
General Equilibrium, Overlapping Generations Models, and Optimal Growth Theory
Title | General Equilibrium, Overlapping Generations Models, and Optimal Growth Theory PDF eBook |
Author | Truman F. Bewley |
Publisher | Harvard University Press |
Pages | 615 |
Release | 2009-07-01 |
Genre | Business & Economics |
ISBN | 0674020928 |
This book presents an original exposition of general equilibrium theory for advanced undergraduate and graduate-level students of economics. It contains detailed discussions of economic efficiency, competitive equilibrium, the first and second welfare theorems, the Kuhn-Tucker approach to general equilibrium, the Arrow-Debreu model, and rational expectations equilibrium and the permanent income hypothesis. Truman Bewley also treats optimal growth and overlapping generations models as special cases of the general equilibrium model. He uses the model and the first and second welfare theorems to explain the main ideas of insurance, capital theory, growth theory, and social security. It enables him to present a unified approach to portions of macro- as well as microeconomic theory. The book contains problems sets for most chapters.
Handbook of Computable General Equilibrium Modeling
Title | Handbook of Computable General Equilibrium Modeling PDF eBook |
Author | Peter B. Dixon |
Publisher | Newnes |
Pages | 1143 |
Release | 2013-11-14 |
Genre | Business & Economics |
ISBN | 0444536353 |
In this collection of 17 articles, top scholars synthesize and analyze scholarship on this widely used tool of policy analysis, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top US graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view. Presents coherent summaries of CGE theories that inform major model types Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results Shows how CGE modeling has made a contribution to economic policy
Basic Methods of Policy Analysis and Planning
Title | Basic Methods of Policy Analysis and Planning PDF eBook |
Author | Carl Patton |
Publisher | Routledge |
Pages | 481 |
Release | 2015-08-26 |
Genre | Political Science |
ISBN | 1317350006 |
Updated in its 3rd edition, Basic Methods of Policy Analysis and Planning presents quickly applied methods for analyzing and resolving planning and policy issues at state, regional, and urban levels. Divided into two parts, Methods which presents quick methods in nine chapters and is organized around the steps in the policy analysis process, and Cases which presents seven policy cases, ranging in degree of complexity, the text provides readers with the resources they need for effective policy planning and analysis. Quantitative and qualitative methods are systematically combined to address policy dilemmas and urban planning problems. Readers and analysts utilizing this text gain comprehensive skills and background needed to impact public policy.