Business Cycles
Market Structure and Market Interaction
192 pages, parution le 01/01/2000
Résumé
The confidence in the market mechanisms for clearing all
markets splits the economic profession. In this book, not
only the existing business cycle literature is examined
within the framework of economic stability, but also the
market structure and the interaction of markets are
analysed in their impact on the business cycle. Nominal
rigidities are shown to exist in the cases of monopoly,
monopolistic competition with menu costs. For the case of
oligopoly, a new approach is presented. Endogenous cycles
are derived for a monopoly model. The interaction of a
consumption goods sector and an investment goods sector is
dealt with. Substitution between labour and capital with
the sector and between the two sectors are identified as
the main economic reasons for economic fluctuations.
Emphasis is laid on the economic interpretation of the
mostly mathematical analysis of optimal growth and
overlapping-generations models and a new approach of
partial equilibrium.
Contents: Introduction.- Stability of the Economy: Introduction; Stability of Steady State Equilibria; Structural Stability of a Dynamicl System.- Survey of Modern Business Cycle Theory: Introduction; Business Cycles in a Stable Economic System; Business Cycles in an Unstable Economic System.- Market Structure: Introduction; The Static Case; The Dynamic Case; Relation to the Literature.- Market Interaction: Introdcution; General Equilibrium; Partial Equilibrium; Relation to the Literature.- Conclusion.
Caractéristiques techniques
| PAPIER | |
| Éditeur(s) | Springer |
| Auteur(s) | Kirsten Ralf |
| Parution | 01/01/2000 |
| Nb. de pages | 192 |
| Poids | 269g |
| EAN13 | 9783790812459 |
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