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Wednesday, May 20, 2020 | History

4 edition of Capital theory, equilibrium analysis, and recursive utility found in the catalog.

Capital theory, equilibrium analysis, and recursive utility

by Becker, Robert A.

  • 215 Want to read
  • 9 Currently reading

Published by Blackwell in Cambridge, Mass .
Written in English

    Subjects:
  • Equilibrium (Economics),
  • Statics and dynamics (Social sciences),
  • Capital.,
  • Utility theory.,
  • Economic development.

  • Edition Notes

    Includes bibliographical references (p. [316]-333) and index.

    StatementRobert A. Becker, John H. Boyd III.
    ContributionsBoyd, John Harvey, 1953-
    Classifications
    LC ClassificationsHB145 .B385 1997
    The Physical Object
    Paginationxix, 345 p. :
    Number of Pages345
    ID Numbers
    Open LibraryOL1002344M
    ISBN 101557864136
    LC Control Number96041656

    Asset Prices in General Equilibrium with Transactions Costs and Recursive Utility Article in SSRN Electronic Journal March with 64 Reads How we measure 'reads'. The Existence of Equilibrium in Infinite-Dimensional Spaces: Some Examples — revised June Reciprocal Roots, Paired Roots, and the Saddlepoint Property — January Book Capital Theory, Equilibrium Analysis, and Recursive Utility (with R. A. Becker), Blackwell, (ISBN ), pages. Conference Presentations.

    The paper shows how fixed-point results for local contractions apply to the study of the existence and uniqueness of recursive utility functions defined on subsets of $\ell^1$ and being continuous. By incorporating recursive utility into the framework of Cooley and Hansen (), Lahiri () conducted a calibration analysis. Her quantitative analysis reveals that, under recursive utility, monetary shocks make the business cycle more volatile than under constant time by: 1.

    The Existence of Steady States in Multisector Capital Accumulation Models with Recursive Preferences, Journal of Economic Theory, (). Recursive Utility: Discrete-Time Theory [with R. A. Becker], Hitotsubashi Journal of Economics, (). General equilibrium theory deals with the prob­lem of whether the independent action by each decision-maker leads to a position in which equilibrium is reached by all. A general equilibrium is defined as a state in which all markets and all decision-making units are in simultaneous equilibrium.


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Capital theory, equilibrium analysis, and recursive utility by Becker, Robert A. Download PDF EPUB FB2

Robert Becker is the author of Capital Theory Equilibrum Analysis and Recursive Utility, published by Wiley. John Boyd is the author of Capital Theory Equilibrum Analysis. In Capital Theory and Equilibrium Analysis and Recursive Utility, Robert Becker and John Boyd have synthesized their previously unpublished work on recursive models.

The use of recursive utility emphasizes time-consistent decision making. This work is a synthesis of the authors' work on recursive models. The use of recursive utility emphasizes time-consistent decision-making. It is addressed to all researchers in economic growth.

Capital Theory, Equilibrium Analysis, and Recursive Utility presents a unified and systematic account of economic dynamics based on neoclassical growth theory. It emphasizes the rigorous construction of dynamic economic models, showing solutions exist and characterizing those solutions and their properties.

In Capital Theory and Equilibrium Analysis and Recursive Utility, Robert Becker and John Boyd have synthesized their previously unpublished work on recursive models. The use of recursive utility emphasizes time-consistent decision making. This permits a unified and systematic account of economic dynamics based on neoclassical growth book provides extensive coverage of optimal.

The Hicksian program, marrying capital theory and equilibrium analysis, has been extraordinarily fruitful. In spite of this success, it suffers from a fundamental weakness. The restrictions imposed by additive separability are an obstacle to the proper analysis of long-run phenomena.

My capital theory book with Bob Becker, Capital Theory, Equilibrium Analysis and Recursive Utility is published by Blackwell. It is available from The ISBN is You can read the preface, and peruse the table of contents here.

The book. Monotonicity of Optimal Capital Policy Functions ; The Capital Deepening Theorem ; Recursive Utility Models Recursive Utility, Monotonicity and Lattice Programming ; Increasing Impatience and Recursive Utility ; Capital Deepening and Recursive Utility ; Conclusion ; Chapter 8: Dynamic Competitive Equilibrium.

This book describes some general equilibrium models that are dynamic, that have been built to help interpret time-series of observations of economic aggregates and to predict the consequences of alternative government interventions. The first part of the book describes dynamic programming, search theory, and real dynamic capital pricing models.

the only good can be used both for consumption and as capital (investment). Equation () describes capital accumulation: the output good, in the form of investment, is used to accumulate the capital input, and capital depreciates geometrically: a constant fraction – 2 [0;1] disintegrates every period.

Equation () is a behavioral equation. Capital Theory Book My capital theory book with Bob Becker, Capital Theory, Equilibrium Analysis and Recursive Utility is published by Blackwell.

It is available from The errata sheet was last updated J John H. Boyd III, Recursive Utility and the Ramsey Problem J. Econ. Theory, 50, (), pp. – zbMATH MathSciNet CrossRef Google Scholar [11] John H. Boyd III, Sustained Growth with Heterogeneous Households, Working Paper, Florida International University, Cited by: 2.

This book describes some general equilibrium models that are dynamic, that have been built to help interpret time-series of observations of economic aggregates and to predict the consequences of alternative government interventions.

The first part of the book describes dynamic programming, search theory, and real dynamic capital pricing by: This book describes recursive models applied to theoretical questions in monetary policy, fiscal policy, taxation, economic growth, search theory, and labor economics.

In investment and finance, Avinash Dixit and Robert Pindyck showed the value of the method for thinking about capital budgeting. Preface This is the lecture notes for the ECON course that I am currently teaching at University of Hawaii.

It is heavily based on Stokey, Lucas and Prescott (),File Size: 1MB. Discrete-Time Recursive Utility. Capital Theory, Equilibrium Analysis and Recursive Utility.

Article. as well as the volume and limit order book depth they generate. Drawing on the latest research, the book covers such cutting-edge topics as asset price bubbles, recursive utility, robust control, policy analysis in dynamic New Keynesian models with the zero lower bound on interest rates, and Bayesian estimation of dynamic stochastic general equilibrium.

Robert A. Becker. Indiana University Capital Theory, Equilibrium Analysis and Recursive Utility. To study existence and uniqueness of recursive utility defined by means of aggregators. Recursive Equilibrium in Endogenous Growth Models with Incomplete Markets,” Working Paper Article in Economic Theory 29(3) February with 9 Reads How we measure 'reads'Author: Tom Krebs.

This is the theory of capital Lachmann employs in this book. He makes use of several illustrative examples throughout the book. This theory is also applied to financial markets and the Austrian business cycle theory, among other things. Austrian economists have yet to fully appreciate the implications of Lachmann's by:.

Abstract. Multisector growth models are basic building blocks not only for optimal planning models (Majumdar, ; McKenzie, ) but also for recursive general equilibrium models (McKenzie, ; Stokey and Lucas, ), and for econometrically tractable models for business cycle research (Cooley, ) and general macroeconomics (Sargent, ).Cited by: 1.The government budget constraint is an accounting identity linking the monetary authority’s choices of money growth or nominal interest rate and the fiscal authority’s choices of Capital Theory, Equilibrium Analysis, and Recursive Utility.

Maiden, MA: Blackwell. Google Scholar Buy this book on publisher's site; Personalised Cited by: 2.ECO Micro Theory II Capital Theory Book. My capital theory book with Bob Becker, Capital Theory, Equilibrium Analysis and Recursive Utility is published by Blackwell. It is available from The ISBN is You can read the preface, and peruse the table of contents here.

The book contains a large number of worked examples.