| Description |
xvi, 300 pages : illustrations ; 24 cm |
| Contents |
1. Introduction -- 2. Linear Difference Equations: Part 1 -- 3. Linear Difference Equations: Part 2 -- 4. General Equilibrium Theory under Certainty -- 5. Infinite Horizon Economies and Representative Agents -- 6. Infinite Horizon Economies and Overlapping Generations -- 7. Infinite Horizon Economies with Nonconvexities -- 8. Some Recent Developments -- 9. General Equilibrium Theory and Uncertainty -- 10. Sunspots -- 11. Macroeconomic Models of Money -- 12. Applied Monetary Theory |
| Summary |
In this book Roger E. A. Farmer takes a somewhat controversial point of view, arguing for the future of macroeconomics as a branch of applied general equilibrium theory. His main theme is that macroeconomics is best viewed as the study of equilibrium environments in which the welfare theorems break down. This approach makes it possible to discuss the role of government policies in a context in which policy can serve some purpose. The second edition has been updated in three ways: (1) Problems are included at the end of every chapter, and a study guide containing sample answers to all of the problems is available; (2) a new chapter discusses research from the past five years on business fluctuations in multisector models; and (3) the chapter on representative agent growth models now includes an appendix that explains the transversality condition |
| Notes |
Previous ed.: 1993 |
| Bibliography |
Includes bibliographical references (pages [289]-293) and indexes |
| Subject |
Macroeconomics -- Mathematical models.
|
|
Equilibrium (Economics) -- Mathematical models.
|
| LC no. |
98048432 |
| ISBN |
0262062038 alkaline paper |
|
