Dynamic Economic Theory

by Michio Morishima

Overview

This book brings together in a single coherent framework a research program begun by the author over forty years ago. It aims to develop multisector general equilibrium theory in the tradition of Hicks's Value and Capital, and extends the prototype model to accommodate the analysis of the monetary sector as well as production and consumption. The stability of temporary equilibrium is examined for both linear and nonlinear cases along with the economic path that the theory generates.

Product Details

ISBN-13:	9780521563246
Publisher:	Cambridge University Press
Publication date:	10/17/1996
Pages:	334
Product dimensions:	5.98(w) x 9.02(h) x 0.87(d)

Table of Contents

1. The method of economic analysis; 2. Households' and firms' economic behaviour; 3. Stability conditions for temporary equilibrium: the linear case; 4. Stability conditions for temporary equilibrium: the non-linear case; 5. Comparative dynamics; Appendices; Mathematical notes.

Editorial Reviews

'Dynamic Economic Theory is largely a retrospective commentary on the development of this strand of economics over the last half-century. It can be read in isolation from the author's other books, though its significance becomes more transparent when these are taken into account. In this context, Morishima has added another important element to the corpus of his many contributions to economic analysis.' R. E. Bailey, The Economic Journal

From the Publisher