Essays in Dynamic General Equilibrium Theory: Festschrift for David Cass / Edition 1

by Alessandro Citanna, John Donaldson, H. Polemarchakis, Paolo Siconolfi, Stephen Spear

Overview

In the area of dynamic economics, David Cass’s work has spawned a number of important lines of research, including the study of dynamic general equilibrium theory, the concept of sunspot equilibria, and general equilibrium theory when markets are incomplete. Based on these contributions, this volume contains new developments in the field, written by Cass's students and co-authors.

Product Details

ISBN-13:	9783540222675
Publisher:	Springer Berlin Heidelberg
Publication date:	03/14/2005
Series:	Studies in Economic Theory , #20
Edition description:	2005
Pages:	273
Product dimensions:	6.20(w) x 9.40(h) x 0.80(d)

Table of Contents

Monopoly Power and the Firm’s Valuation: A Dynamic Analysis of Short versus Long-Term Policies.- Revealed Intertemporal Ineffciency.- Volatility and Job Creation in the Knowledge Economy.- Existence of Sunspot Equilibria and Uniqueness of Spot Market Equilibria: The Case of Intrinsically Complete Markets.- Survival, Uncertainty, and Equilibrium Theory: An Exposition.- On Price-Taking Behavior in Asymmetric Information Economies.- Ambiguity aversion and the absence of indexed debt.- Sunspots, Indeterminacy and Pareto Inefficiency in Economies With Incomplete Markets.- Growth in Economies With Non Convexities: Sunspots and Lottery Equilibria, Theory and Examples.- Shaking the Tree: An Agency-Theoretic Model of Asset Pricing.- Central-Bank Interest-Rate Control in a Cashless, Arrow-Debreu Economy.