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Since Lėon Walras neoclassical economists hold an inalterable belief in a unique and stable equilibrium for the … paper examines four such models of increasing complexity, including the affine nonlinear feedback H∞-control, to show that … the "data requirement" precludes all attempts at the empirical verification of the existence of a stable equilibrium. If …
Persistent link: https://www.econbiz.de/10012062056
Since Lėon Walras neoclassical economists hold an inalterable belief in a unique and stable equilibrium for the … a stable equilibrium. In a complex nonlinear deterministic systems, equilibria, whether multiple or deterministically …
Persistent link: https://www.econbiz.de/10011111254
This paper analyses two types of models: 1. Those based on assumptions of monetary and financial market equilibrium … dynamics of financial market as well as the role of uncertainty, interdependency and dynamic complexity. We present here Minsky …
Persistent link: https://www.econbiz.de/10010527416
This survey analyses two types of models: 1. Models based on assumptions of monetary and financial market equilibrium … into account the dynamics of financial market, as well as the role of uncertainty, interdependency and dynamic complexity …
Persistent link: https://www.econbiz.de/10009003977
This survey analyzes two types of models: 1. Models based on assumptions of monetary and financial market equilibrium … dynamics of financial market as well as the role of incertainty, interdependency and dynamic complexity. Here is shown Minsky …
Persistent link: https://www.econbiz.de/10008764787
This survey analyses two types of models: 1. models based on assumptions of monetary and financial market equilibrium …
Persistent link: https://www.econbiz.de/10009140962
This paper analyses two types of models: 1. Those based on assumptions of monetary and financial market equilibrium … dynamics of financial market as well as the role of uncertainty, interdependency and dynamic complexity. We present here Minsky …
Persistent link: https://www.econbiz.de/10008833951
This paper analyses two types of models: 1. Those based on assumptions of monetary and financial market equilibrium … dynamics of financial market as well as the role of uncertainty, interdependency and dynamic complexity. We present here Minsky …
Persistent link: https://www.econbiz.de/10010529077
methodology solves the Walrasian problem of how markets can reach equilibrium, starting with firms trading at disparate prices …
Persistent link: https://www.econbiz.de/10005836597
This contribution concerns models and theories of structural economic dynamics. The theories and models analyzed in the paper follow two different approaches, circular and vertical, in the analysis of structural dynamics. The content of this contribution is essentially methodological. This work...
Persistent link: https://www.econbiz.de/10011260828