This work uses various model frameworks to study the evolution of equilibria in an open loop evolving economy in which the model characteristics evolve without any directional restrictions except for continuity. Applying mathematical methods, it is shown that equilibria can always be adapted in...

Basics -- Economic Growth and Natural Resources -- Efficiency and Market Equilibrium under Resource Abundance -- Intergenerational Efficiency in Log-linear Cobb-Douglas OLG Models -- Intertemporal Market Equilibrium and Short-Run Intergenerational Efficiency -- Steady-State Market Equilibrium,...

The extensive monetary policy of central banks during the Great Recession has re-newed the interest in the relation between (possibly) non-neutral money and wealth and income inequality. In this work, a dynamic general equilibrium model approach is used to study the effects of an inflation rate...

Part I: Introductory Matter -- 1.Utility and Demand -- 2.Elements of Production -- Part II: Models -- 3.Cournot I: Constant Returns -- 4.Cournot II: Returns to Scale and Stability -- Bertrand -- 6.Stackelberg -- 7.Hotelling Duopoly -- 8.Disequilibrium Trade and Pricing of Durable Commodities --...

Over the past two decades, the issue of equilibrium indeterminacy has been one of the major research concerns in macroeconomic dynamics. Growth and Business Cycles with Equilibrium Indeterminacy discusses the main topics in this literature. Based on comprehensive surveys and the author’s...