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Trade retaliation in a monetary-trade model
Whalley, John; Yu, Jun; Zhang, Shunming - 2009
We explore how outcomes of trade policy retaliation (Nash tariff games) are affected when trade simultaneously takes places geographically across countries and through time via financial intermediation. In such models deficits and surpluses in goods trade are endogenously determined, and...
Persistent link: https://www.econbiz.de/10010264539
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Methoden der angewandten Wirtschaftsforschung: Eine Einführung in die numerische Gleichgewichtsanalyse
Böhringer, Christoph; Wiegard, Wolfgang - 2003
Shoven und Whalley, die Wegbereiter der angewandten Gleichgewichtsanalyse, haben in ihrem bekannten JEL-Übersichtsartikel von 1984 das Los der Gleichgewichtsmodellierer als ?jack of all trades? beklagt. Ziel unseres Beitrags ist es, angenehmere ?Wege zum Gleichgewicht? aufzuzeigen. Unser...
Persistent link: https://www.econbiz.de/10010297280
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Competitive equilibria: Convergence, cycles or chaos
Mukherji, Anjan - 2003
Persistent link: https://www.econbiz.de/10010332252
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Positional Wages, Market Wages and Firm Size
van den Brink, Rene; Ruys, Pieter H.M. - 2005
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/10010325411
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A Note on Aoki-Yoshikawa Model
Scalas, Enrico; Garibaldi, Ubaldo - 2008
In this paper, we explore a dynamical version of by Aoki and Yoshikawa model (AYM) for an economy driven by demand. We show that when an appropriate Markovian dynamics is taken into account, AYM has different equilibrium distributions depending on the form of transition probabilities. In the...
Persistent link: https://www.econbiz.de/10010298574
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Implicit Microfoundations for Macroeconomics
Wright, Ian - 2008
A large market economy has a huge number of degrees of freedom with weak microlevel coordination. The 'implicit microfoundations' approach assumes this property of micro-level interactions more strongly conditions macro-level outcomes compared to the precise details of individual choice...
Persistent link: https://www.econbiz.de/10010298577
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A Dynamic Probabilistic Version of the Aoki-Yoshikawa Sectoral Productivity Model
Scalas, Enrico; Garibaldi, Ubaldo - In: Economics: The Open-Access, Open-Assessment E-Journal 3 (2009) 2009-15, pp. 1-10
In this paper, the authors explore a dynamical version of the Aoki and Yoshikawa model (AYM) for an economy driven by demand. They show that when an appropriate Markovian dynamics is taken into account, the AYM has different equilibrium distributions depending on the form of transition...
Persistent link: https://www.econbiz.de/10010298634
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Implicit Microfoundations for Macroeconomics
Wright, Ian - In: Economics: The Open-Access, Open-Assessment E-Journal 3 (2009) 2009-19, pp. 1-27
A large market economy has a huge number of degrees of freedom with weak microlevel coordination. The 'implicit microfoundations' approach considers this property of micro-level interactions to more strongly determine macro-level outcomes compared to the precise details of individual choice...
Persistent link: https://www.econbiz.de/10010298637
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Wettbewerbsschutz durch regelgeleitete Wettbewerbspolitik: Anmerkungen zum institutionenökonomisch-evolutionären Wettbewerbsleitbild
Schmidtchen, Dieter - 2006
Kürzlich hat Chr. Mantzavinos ein neues Wettbewerbsleitbild vorgeschlagen, das auf Ergebnissen der Neuen Institutionenökonomik und der Evolutorischen Ökonomik aufbaut. Er kritisiert die gängigen normativen Konzeptionen in der Wettbewerbspolitik, insbesondere die Idee des Wettbewerbs als...
Persistent link: https://www.econbiz.de/10010296936
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The Nature of Equilibrium in Macroeconomics: A Critique of Equilibrium Search Theory
Aoki, Masanao; Yoshikawa, Hiroshi - 2008
The standard Walrasian equilibrium theory requires that the marginal value product of production factor such as labor … theory allegedly fills this gap by encompassing apparent disequilibrium phenomena in the neoclassical equilibrium framework …. Taking up Lucas and Prescott (1974) as a primary example, we show that the neoclassical search theory cannot explain the …
Persistent link: https://www.econbiz.de/10010298573