Nonlinear Dynamics in Equilibrium Models
Chaos, Cycles and Indeterminacy
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Product details:
- Edition number 2012
- Publisher Springer Berlin Heidelberg
- Date of Publication 25 January 2012
- Number of Volumes 1 pieces, Book
- ISBN 9783642223969
- Binding Hardback
- No. of pages454 pages
- Size 235x155 mm
- Weight 863 g
- Language English
- Illustrations XI, 454 p. Illustrations, black & white 0
Categories
Long description:
Optimal growth theory studies the problem of efficient resource allocation over time, a fundamental concern of economic research. Since the 1970s, the techniques of nonlinear dynamical systems have become a vital tool in optimal growth theory, illuminating dynamics and demonstrating the possibility of endogenous economic fluctuations. Kazuo Nishimura's seminal contributions on business cycles, chaotic equilibria and indeterminacy have been central to this development, transforming our understanding of economic growth, cycles, and the relationship between them. The subjects of Kazuo's analysis remain of fundamental importance to modern economic theory. This book collects his major contributions in a single volume. Kazuo Nishimura has been recognized for his contributions to economic theory on many occasions, being elected fellow of the Econometric Society and serving as an editor of several major journals.
Table of Contents:
Optimal Growth and Endogenous Cycles.- Optimal Growth and Chaotic Dynamics.- Global Dynamics in Optimal Growth Models.- Dynamic Models with Non-concave Technologies.- Stochastic Optimal Growth Models.- Indeterminancy in Exogenous Growth Models.- Interdeterminancy in Endogenous Growth Models.
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