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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...
Persistent link: https://www.econbiz.de/10012397147
Optimal growth theory studies the problem of efficient resource allocation over time, a fundamental concern of economic … research. Since the 1970s, the techniques of nonlinear dynamical systems have become a vital tool in optimal growth theory … importance to modern economic theory. This book collects his major contributions in a single volume. Kazuo Nishimura has been …
Persistent link: https://www.econbiz.de/10013522947
Investigates the dynamic welfare effects of exposure to trade in a new trade model. This book uses a new trade model to explore which country-specific conditions give rise to horizontal or vertical multinational activity. It analyzes the role of goods trade and horizontal multinational firms in...
Persistent link: https://www.econbiz.de/10013520542
Persistent link: https://www.econbiz.de/10013520780
The thought-provoking book presents alternative viewpoints to mainstream macroeconomic theory, questions conventional … reflects the author's acknowledged command over the theory and practice of economic policies globally, and his decades of …New Consensus Macroeconomics(NCM): Theory -- NCM: Macroeconomic Policy Implications -- NCM : Implications for …
Persistent link: https://www.econbiz.de/10012396946
Looking at historical cross-country interactions, this book examines the role of the US in the world economy. Illustrating that US shocks tend to have a global nature and that Monetary Union only partially shelters the Euro area from its external environment, the US should fully assume its...
Persistent link: https://www.econbiz.de/10012053863
This book offers the reader a state-of-the-art overview on theory and empirics of business cycle synchronisation …
Persistent link: https://www.econbiz.de/10014016119
Persistent link: https://www.econbiz.de/10012106175
Recognizing increasing returns disrupts much of the established wisdom in economic analysis, making money non-neutral, equity conflict with freedom, and encouraging goods with increasing returns efficient. This book discusses these problems and ways they can be handled, helping to explain...
Persistent link: https://www.econbiz.de/10012106190
, monetary theory, monetary framework debates, and the mathematical theory of banking. …
Persistent link: https://www.econbiz.de/10012106205