Indeterminacy in General Equilibrium Economies with Incomplete Financial Markets
Title | Indeterminacy in General Equilibrium Economies with Incomplete Financial Markets PDF eBook |
Author | Tito Pietra |
Publisher | |
Pages | 33 |
Release | 1989 |
Genre | |
ISBN |
General Equilibrium, Growth, and Trade II
Title | General Equilibrium, Growth, and Trade II PDF eBook |
Author | Robert Becker |
Publisher | Academic Press |
Pages | 630 |
Release | 2014-05-10 |
Genre | Business & Economics |
ISBN | 1483216381 |
General Equilibrium, Growth, and Trade, Volume II: The Legacy of Lionel McKenzie presents the impact of Lionel McKenzie's contributions on modern economics. This book discusses McKenzie's researches that are relevant in applied economic fields, including general equilibrium, optimal growth, and international trade. Organized into three parts encompassing 24 chapters, this volume begins with an overview of the existence of competitive equilibrium in an economy with a finite number of agents and commodities. This text then presents two analyses that are basically responses to criticism of the development of real indeterminacy. Other chapters consider McKenzie's assumption of irreducibility, which plays a significant role in showing how compensated equilibria will be uncompensated equilibria because agents have cheaper net trade vectors in their feasible sets. This book discusses as well some properties of competitive equilibria for dynamic exchange economies with an infinite horizon and incomplete financial markets. This book is a valuable resource for economists and economic theorists.
Incomplete Financial Markets and Indeterminacy of Competitive Equilibrium
Title | Incomplete Financial Markets and Indeterminacy of Competitive Equilibrium PDF eBook |
Author | David Cass |
Publisher | |
Pages | 60 |
Release | 1991 |
Genre | |
ISBN |
On the Role of Paper Money in General Equilibrium Models with Incomplete Markets
Title | On the Role of Paper Money in General Equilibrium Models with Incomplete Markets PDF eBook |
Author | Atsushi Kajii |
Publisher | |
Pages | 46 |
Release | 1991 |
Genre | |
ISBN |
General Equilibrium and Endogenously Incomplete Financial Markets
Title | General Equilibrium and Endogenously Incomplete Financial Markets PDF eBook |
Author | Alberto Bisin |
Publisher | |
Pages | 55 |
Release | 1994 |
Genre | |
ISBN |
General Equilibrium: Theory And Evidence
Title | General Equilibrium: Theory And Evidence PDF eBook |
Author | William David Anthony Bryant |
Publisher | World Scientific |
Pages | 492 |
Release | 2009-10-07 |
Genre | Business & Economics |
ISBN | 9814470864 |
General Equilibrium Theory studies the properties and operation of free market economies. The field is a response to a series of questions originally outlined by Leon Walras about the operation of markets and posed by Frank Hahn in the following way: ‘Does the pursuit of private interest, through a system of interconnected deregulated markets, lead not to chaos but to coherence — and if so, how is that achieved?’ This is always an apt question, but particularly so given the ‘Global Financial Crisis’ that emerged from the operation of market economies in the Americas and Europe in mid to late 2008.The answer that General Equilibrium Theory provides to the Walras-Hahn question is that, under certain conditions coherence is possible, while under certain other conditions chaos, in various forms, is likely to prevail. The conditionality of either outcome is not always well understood — neither by proponents of, or antagonists to, the ‘free market position’. Consequently, this book attempts to show something of what General Equilibrium Theory has to say about the wisdom or otherwise of always relying on ‘market forces’ to manage complex socio-economic systems.
Equilibrium with Incomplete Financial Markets
Title | Equilibrium with Incomplete Financial Markets PDF eBook |
Author | Tito Pietra |
Publisher | |
Pages | 28 |
Release | 1993 |
Genre | |
ISBN |