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The Renewal of Classical General Equilibrium Theory and Complete Input-output System Models

1994 Business & Economics
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Release : 1994
Genre : Business & Economics
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Book Synopsis The Renewal of Classical General Equilibrium Theory and Complete Input-output System Models by : Ezra Davar

Download or read book The Renewal of Classical General Equilibrium Theory and Complete Input-output System Models written by Ezra Davar. This book was released on 1994. Available in PDF, EPUB and Kindle. Book excerpt: In this book the reader will find not only criticisms of conventional economic theory (general equilibrium (GE) and input-output (I-O)), but also suggestions for how to improve and advance it. The author shows that the Classics' - Smith, Marx and Walras - general equilibrium theories are characterized by a common approach, which has been misunderstood and misinterpreted. The assumptions of modern GE Theory were increased by 'Walras Law' (as formulated by his followers), which claims that the prices of factors (commodities) are equal to zero when there is excess supply. Hence, when compared to reality it is irrelevant. Leontief's attempt to bridge the theoretical (Walrasian) and empirical (Marxian) input-output versions was also incomplete. The author puts forward two new versions of GE Theory and I-O: 1) theoretical, which assumes price discrimination for mixed competition economy and the existence of unemployed factors with significantly positive price; and 2) empirical, which establishes a reciprocal connection between factors and categories of final uses. The suggested approach is demonstrated by practical application.

Applied General Equilibrium

2012-01-05 Business & Economics
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Release : 2012-01-05
Genre : Business & Economics
Kind : eBook
Book Rating : 466/5 ( reviews)

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Book Synopsis Applied General Equilibrium by : Manuel Alejandro Cardenete

Download or read book Applied General Equilibrium written by Manuel Alejandro Cardenete. This book was released on 2012-01-05. Available in PDF, EPUB and Kindle. Book excerpt: This advanced textbook aims at providing a simple but fully operational introduction to applied general equilibrium. General equilibrium is the backbone of modern economic analysis and as such generation after generation of economics students are introduced to it. As an analytical tool in economics, general equilibrium provides one of the most complete views of an economy since it incorporates all economic agents (households, firms, government, foreign sector) in an integrated way that is compatible with microtheory and microdata. The integration of theory and data handling is required for successful modeling but it requires a double ability that is not found in standard books. With this book we aim at filling the gap and provide advanced students with the required tools, from the building of consistent and applicable general equilibrium models to the interpretation of the results that ensue from the adoption of policies. The topics include: model design, model development, computer code examples, calibration and data adjustments, practical policy examples.

Classical General Equilibrium Theory

2005-08-12 Business & Economics
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Release : 2005-08-12
Genre : Business & Economics
Kind : eBook
Book Rating : 302/5 ( reviews)

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Book Synopsis Classical General Equilibrium Theory by : Lionel W. McKenzie

Download or read book Classical General Equilibrium Theory written by Lionel W. McKenzie. This book was released on 2005-08-12. Available in PDF, EPUB and Kindle. Book excerpt: Although general equilibrium theory originated in the late nineteenth century, modern elaboration and development of the theory began only in the 1930s and 1940s. This book focuses on the version of the theory developed in the second half of the twentieth century, referred to by Lionel McKenzie as the classical general equilibrium theory. McKenzie offers detailed and rigorous treatment of the classical model, giving step-by-step proofs of the basic theorems. In many cases he elaborates on the individual steps to give a fuller understanding of the underlying principles. His goal is to provide readers with a true mastery of the methodology so that they can derive new results that will further enrich their thinking about general equilibrium theory. Special attention is given to the McKenzie model, in which it is not assumed that the number of firms is given but rather that technologies or activities are available to any agents who can supply the resources they require. The McKenzie model is used to establish the turnpike theorems of optimal and competitive capital accumulation.

General equilibrium theory

1963 Economic policy
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Release : 1963
Genre : Economic policy
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Book Synopsis General equilibrium theory by : Bent Hansen

Download or read book General equilibrium theory written by Bent Hansen. This book was released on 1963. Available in PDF, EPUB and Kindle. Book excerpt:

Notes and Problems in Applied General Equilibrium Economics

2014-06-28 Business & Economics
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Release : 2014-06-28
Genre : Business & Economics
Kind : eBook
Book Rating : 03X/5 ( reviews)

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Book Synopsis Notes and Problems in Applied General Equilibrium Economics by : K.R. Pearson

Download or read book Notes and Problems in Applied General Equilibrium Economics written by K.R. Pearson. This book was released on 2014-06-28. Available in PDF, EPUB and Kindle. Book excerpt: "General-equilibrium" refers to an analytical approach which looks at the economy as a complete system of inter-dependent components (industries, households, investors, governments, importers and exporters). "Applied" means that the primary interest is in systems that can be used to provide quantitative analysis of economic policy problems in particular countries. Reflecting the authors' belief in the models as vehicles for practical policy analysis, a considerable amount of material on data and solution techniques as well as on theoretical structures has been included. The sequence of chapters follows what is seen as the historical development of the subject. The book is directed at graduate students and professional economists who may have an interest in constructing or applying general equilibrium models. The exercises and readings in the book provide a comprehensive introduction to applied general equilibrium modeling. To enable the reader to acquire hands-on experience with computer implementations of the models which are described in the book, a companion set of diskettes is available.

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