Static and Dynamic Aspects of General Disequilibrium Theory

ISBN-13: 9780792398134 / Angielski / Twarda / 1996 / 508 str.

Jean-Jacques Herings; P. Jean-Jacques Herings

Opis

Mathematical economics uses mathematical tools and reasoning to describe and explain economic reality. At the core of mathematical economics is general equilibrium theory. Static and Dynamic Aspects of General Disequilibrium Theory describes and analyses various general equilibrium models, treating theory from an axiomatic point of view, which may lead to a deeper understanding of problems, may help to avoid incorrect reasoning, and may improve communication within the economic science.
This volume consists of four parts, each of which is self-contained. Part I deals with the mathematical and economic preliminaries. Part II considers the static aspects of disequilibrium theory. Part III determines price rigidities endogenously. Finally, Part IV deals with dynamic aspects of disequilibrium theory.

Spis treści

1. Introduction. Part I: Preliminaries. 2. Mathematical Preliminaries. 3. Economic Preliminaries. Part II: Static Aspects of Disequilibrium. 4. Equilibrium Existence Results for Economies with Price Rigidities. 5. On the Connectedness of the Set of Constrained Equilibria. 6. The Computation of a Continuum of Constrained Equilibria. 7. Intersection Theorems with a Continuum of Intersection Points. Part III: Endogenously Determined Disequilibrium. 8. Endogenously Determined Price Rigidities. 9. Regulation of Prices, the Generic Case? Part IV: Dynamic Aspects of Disequilibrium. 10. A Globally and Universally Stable Price Adjustment Process. 11. A Globally and Universally Stable Quantity Adjustment Process. 12. Equilibrium Adjustment of Disequilibrium Prices. References. Index.