Overview

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.

Full Product Details

Author:   Kirsten Ralf
Publisher:   Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
Imprint:   Physica-Verlag GmbH & Co
Edition:   Softcover reprint of the original 1st ed. 2000
Dimensions:   Width: 15.50cm , Height: 1.00cm , Length: 23.50cm
Weight:   0.318kg
ISBN:  

9783790812459

ISBN 10:   3790812455
Pages:   191
Publication Date:   17 November 1999
Audience:   College/higher education ,  Professional and scholarly ,  Postgraduate, Research & Scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   Manufactured on demand  
We will order this item for you from a manufactured on demand supplier.

Table of Contents

1. Introduction.- 2. Basic questions, early theories and empircal evidence.- 2.1 What is business cycle theory about?.- 2.2 A brief sketch of early theories.- 2.3 Stylized facts.- 3. Stability of the economy.- 3.1 Introduction.- 3.2 Stability of steady state equilibria.- 3.3 Structural stability of a dynamical system.- 4. Survey of modern business cycle theory.- 4.1 Introduction.- 4.2 Business cycles in a stable economic system.- 4.3 Business cycles in an unstable economic system.- 5. Market structure.- 5.1 Introduction.- 5.2 The static case.- 5.3 The dynamic case.- 5.4 Relation to the literature.- 6. Market interaction.- 6.1 Introduction.- 6.2 General equilibrium.- 6.3 Partial equilibrium.- 6.4 Relation to the literature.- 7. Conclusion.- A. Proofs of the theorems of section 5.2.- B. The existence of k-SSE.

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