A common set of mathematical tools underlies dynamic optimization, dynamic estimation, and filtering. In Recursive … Models of Dynamic Linear Economies, Lars Peter Hansen and Thomas Sargent use these tools to create a class of econometrically … authors unite economic theory with a workable econometrics while going beyond and beneath demand and supply curves for dynamic …

of markets, where consumers exhibit price-taking behavior. While this behavior is ubiquitous, the underlying mechanism … can be captured in a single framework. Here, we present a microsimulation framework of a price-taker market that … specific to urban price-taker markets. This clearing solution is then used to operationalize two price-taker markets, from two …

change, irreversible change, unpredictability, qualitativechange and disequilibrium, are examined. It is argued that there …

kinds of locally unstable behavior. Economic disequilibrium is the rule in such a world and requires the presence of market … considerable evidence suggests, then the discovery and application of new structure is essential. A complete dynamic theory of …

using a dynamic, disaggregate economic model based upon principles of bounded rationality and markets in disequilibrium. The …

for disequilibrium microfoundations to Keynesian macroeconomics. Third, Clower's (1967) project was to formulate a … disequilibrium monetary theory. Fourth, such a project failed because of Clower's (1965) approach to disequilibrium economics. …

the disaggregate level) to the dynamic formation and reformation of 'distributional coalitions' and the process of …

This article is concerned with disequilibrium regime switching model to capture different regimes in the US gasoline … markets. The purpose is to illustrate potential regimes in gasoline market. Following a suggestion in Hunter and Tabaghdehi … University Working Paper, 13-03, 2013a), gasoline markets may not be efficient either across regions or within local markets. The …

entrepreneurs in times of industrialisation and dynamic economic changes in the 18th and 19th century. For all long-term commercial …