Price Dynamics in Equilibrium Models : the Search for Equilibrium and the Emergence of Endogenous Fluctuations / by Jan Tuinstra.
A long-standing unsolved problem in economic theory is how economic equilibria are attained. Price Dynamics in Equilibrium Models: The Search for Equilibrium and the Emergence of Endogenous Fluctuations considers a number of adjustment processes in different economic models and investigates their dy...
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| Online Access: |
Full Text (via Springer) |
|---|---|
| Main Author: | |
| Format: | eBook |
| Language: | English |
| Published: |
Boston, MA :
Springer US,
2001.
|
| Series: | Advances in computational economics ;
v. 16. |
| Subjects: |
Table of Contents:
- 1 Introduction and Outline
- 1.1 Bounded Rationality
- 1.2 Theory of Nonlinear Dynamics
- 1.3 Outline
- 2 A Tâtonnement Process
- 2.1 Introduction
- 2.2Price adjustment models
- 2.3 The Model
- 2.4 Symmetry
- 2.5 Local bifurcation analysis
- 2.6 Global dynamics
- 2.7An asymmetric price adjustment process
- 2.8 Multiplicity of equilibria
- 2.9 Summary and conclusions
- 3 Perfect Foresight Cycles in Overlapping Generations Models
- 3.1 The overlapping generations model
- 3.2 Equivalence
- 3.3 Examples
- 4 Learning in Overlapping Generations Models
- 4.1 Perfect foresight versus learning
- 4.2 The overlapping generations model
- 4.3 Static expectations
- 4.4 A regression on price levels
- 4.5 A regression on inflation rates
- part I
- 4.6 A regression on inflation rates
- part II
- 4.7 Summary
- 5 An Evolutionary Model of Cournot Competition
- 5.1 Introduction
- 5.2 The Model
- 5.3 Best-Reply versus Rational Players
- 5.4 Local Bifurcation Analysis
- 5.5 Global Bifurcation Analysis
- 5.6 lmitators versus Best-Reply Players
- 5.7 Concluding Remarks
- 5.8 Appendix
- 6 Price Adjustment in Monopolistic Competition
- 6.1 Introduction
- 6.2A partial equilibrium model
- 6.3 A short memory learning procedure
- 6.4 A long memory learning procedure
- 6.5 Concluding remarks
- References.