On Time : Lectures on Models of Equilibrium
Book Details
Format
Paperback / Softback
Book Series
Churchill Lectures in Economics
ISBN-10
0521119766
ISBN-13
9780521119764
Publisher
Cambridge University Press
Imprint
Cambridge University Press
Country of Manufacture
GB
Country of Publication
GB
Publication Date
Sep 17th, 2009
Print length
136 Pages
Weight
180 grams
Dimensions
21.60 x 14.00 x 0.80 cms
Product Classification:
Economic theory & philosophyEconomic theory and philosophy
Ksh 6,100.00
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In these two lectures, first published in 1994, Peter Diamond explores how time is modelled in theoretical analyses of individual industries and of an entire economy. Both cyclical and seasonal data on the behaviour of macro-economies are examined.
In these two lectures, first published in 1994, Peter Diamond explores how time is modelled in theoretical analyses of individual industries and of an entire economy. In the first lecture he considers equilibrium in a single market by examining the distinction between the short run and the long run in Marshallian analysis. He proposes an explicit modelling of time in place of Marshall's use of different atemporal models for different time frames. In the second lecture he turns to models of an entire economy, and begins by considering how and why models of an entire economy should differ from models of a single industry. Both cyclical and seasonal data on the behaviour of macro-economies are examined.
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