Overlapping Generations : Methods, Models and Morphology
Book Details
Format
Hardback
ISBN-10
183753053X
ISBN-13
9781837530533
Publisher
Emerald Publishing Limited
Imprint
Emerald Publishing Limited
Country of Manufacture
GB
Country of Publication
GB
Publication Date
Sep 4th, 2023
Print length
264 Pages
Weight
512 grams
Dimensions
16.10 x 23.80 x 2.20 cms
Product Classification:
FinanceFinance and the finance industryBankingInformation technology industries
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The 800 pound gorilla in the room of macroeconomics is the question of why the overlapping generations model didn’t become the central workhorse model for macroeconomics, as opposed to the neoclassical growth model. The authors here explore the co-evolution of the two models.
The 800 pound gorilla in the room of macroeconomics is the question of why the overlapping generations model didn''t become the central workhorse model for macroeconomics. Introduced in 1958 by Paul Samuelson, the model postulates an infinite number of finite-lived families. This is in stark contrast to the more dominant neoclassical growth model, which is based on the assumption that real economies are populated by a finite number of dynastic families. Despite the greater realism of the former model and the inherent implausibility of the assumptions underlying the growth model, the growth model has become dominant. The authors here explore the co-evolution of the two models to shed light on why this happened, spanning the entire post-WWII era.
Get Overlapping Generations by Stephen E. Spear, Warren Young at the best price and quality guaranteed only at Werezi Africa's largest book ecommerce store. The book was published by Emerald Publishing Limited and it has 264 pages.
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