In recent years the field of dynamic stochastic general equilibrium models has emerged as the central field of macroeconomics. These models give a unified treatment of growth and fluctuations in a general equilibrium framework where all agents behave rationally. A particularly successful part of this field introduces imperfect competition and nonclearing markets into this framework, which also leads to the study of problems like unemployment. This timely volume gives a full account of the field, starting with the various general equilibrium traditions that ultimately led to this research area, and then describing the evolution of the models, with special emphasis on how they succeeded in representing features of dynamics that other models failed to reproduce.
This collection will be an invaluable source of reference for professors and graduate students specializing in macroeconomics. It should also be of interest to students of the history of economic thought, as it shows how apparently antagonistic subfields ended up merging to produce a better synthetic theory.
| ISBN: | 9781843760030 |
| Publication date: | 24th February 2006 |
| Author: | JeanPascal Bénassy |
| Publisher: | Edward Elgar Publishing |
| Format: | Hardback |
| Pagination: | 562 pages |
| Series: | International Library of Critical Writings in Economics |
| Genres: |
Macroeconomics Business competition |
In recent years the field of dynamic stochastic general equilibrium models has emerged as the central field of macroeconomics. These models give a unified treatment of growth and fluctuations in a general equilibrium framework where all agents behave rationally. A particularly successful part of this field introduces imperfect competition and nonclearing markets into this framework, which also leads to the study of problems like unemployment. This timely volume gives a full account of the field, starting with the various general equilibrium traditions that ultimately led to this research area, and then describing the evolution of the models, with special emphasis on how they succeeded in representing features of dynamics that other models failed to reproduce.
This collection will be an invaluable source of reference for professors and graduate students specializing in macroeconomics. It should also be of interest to students of the history of economic thought, as it shows how apparently antagonistic subfields ended up merging to produce a better synthetic theory.
Imperfect Competition, Nonclearing Markets and Business Cycles features in the following genres: Macroeconomics, Business competition
Imperfect Competition, Nonclearing Markets and Business Cycles is available in Hardback
Imperfect Competition, Nonclearing Markets and Business Cycles was written by JeanPascal Bénassy and published by Edward Elgar Publishing
Imperfect Competition, Nonclearing Markets and Business Cycles has 562 pages
Yes it is part of International Library of Critical Writings in Economics series