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This paper gives an overview and evaluates the literature on Microfoundations. …
Persistent link: https://www.econbiz.de/10011349210
We consider the microfoundations controversy from the perspective ofeconomic evolution and show that the debatecan …, it has rarely focused on clarifying the micro-macro distinction in economic theory and modelling.The macroevolution … topicsincorporating ideas from evolutionary theory into economics are:economic exaptations, macroeconomic consequencesof institutions, and …
Persistent link: https://www.econbiz.de/10011303317
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This paper introduces a new solution method for Dynamic Stochastic General Equilibrium (DSGE) models that produces non explosive paths. The proposed solution method is as fast as standard perturbation methods and can be easily implemented in existing software packages like Dynare as it is...
Persistent link: https://www.econbiz.de/10011979524
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Mostly infinite dimensional economies can be considered limits offinite dimensional economies, in particular when we think of time orproduct differentiation. We investigate conditions under which sequences of quasi-equilibria in finite dimensional economies converge to a quasi-equilibrium in the...
Persistent link: https://www.econbiz.de/10011303315
Is there a case to be made for preferential treatment of the exposed sector in an economy when compliance to an aggregate emissions constraint induced by an international environmental agreement is mandatory? This question is being debated in many countries, including The Netherlands, in the...
Persistent link: https://www.econbiz.de/10011334353
We model a firm in an institutional market setting, consisting of a production technology and its governance. The governance consists of a hierarchical firm structure, a cost efficiency parameter,and an internal pay system. The depth of the firm is determined by profit maximization under the...
Persistent link: https://www.econbiz.de/10011343293
We examine the effect of railway travel on urban spatial structure in a polycentric urban land use model. We focus on the role of access to the railway network. We find that if the number of train stations is limited, the degree of urbanization is higher around train stations, but the effect of...
Persistent link: https://www.econbiz.de/10010348424