General Equilibrium, Growth, and Trade: Essays in Honor of Lionel McKenzie provides information pertinent to the three main areas of Professor McKenzie's scientific research, namely, international trade, economic growth, and general equilibrium theory. This book highlights the main aspects of McKenzie's work. Organized into three parts encompassing 21 chapters, this book begins with an overview of the regularizing effects of aggregation over nonregular microrelations. This text then examines the theory of a multiperiod monopolist incurring nonseparable labor adjustment costs, which is developed when investment is irreversible. Other chapters consider the behavior of a price-maker in a competitive market as a preliminary step to a more complete analysis of pure competition. This book discusses as well the effects of uncertainty on optimal decisions, which constitutes an increasingly essential area of economic research. The final chapter deals with the general equilibrium macroeconomic model. This book is a valuable resource for economists and economic theorists.

The book provides a hands-on introduction to computable general equilibrium (CGE) models, written at an accessible, undergraduate level.

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.

International trade is the core foundation of globalisation. This current and up-to-date volume brings together the finest academics working in the field today, containing contributions in key areas of policy research, such as, modelling frameworks, trade policy, trade and migration, trade and the environment, trade and unemployment.

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