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Dynamic Economic Theory Michio Morishima (London School of Economics and Political Science)

Dynamic Economic Theory By Michio Morishima (London School of Economics and Political Science)

Dynamic Economic Theory by Michio Morishima (London School of Economics and Political Science)


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Summary

This book brings together in a single coherent framework a research programme begun by the author in the forties. It develops multi-sector general equilibrium theory in the tradition of Hicks's Value and Capital, and extends the prototype model so as to accommodate the monetary sector as well as production and consumption.

Dynamic Economic Theory Summary

Dynamic Economic Theory by Michio Morishima (London School of Economics and Political Science)

This book brings together in a single coherent framework a research programme begun by the author in the forties. The main model around which the analysis is built is Hicksian in character, having been drawn in large part from John Hicks's Value and Capital. The model is extended so as to include money and securities. In respect of the theory of the firm the model focuses on demand and supply plans, on inputs and outputs, on inventories, and on dependencies between them. The stability of temporary equilibrium is discussed for linear and non-linear cases. Because the concept of structural stability is important for understanding non-linear cases, it is defined and applied to the case of economic motion generated from the temporary equilibrium analysis. The addenda focus on developments in economic theory following the publication of the main model.

Dynamic Economic Theory 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

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.

Additional information

NPB9780521563246
9780521563246
0521563240
Dynamic Economic Theory by Michio Morishima (London School of Economics and Political Science)
New
Hardback
Cambridge University Press
1996-10-17
334
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
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