On Time
On Time
Lectures on Models of Equilibrium
Peter A. Diamond, Massachusetts Institute of Technology
September 2009
Available
Paperback
9780521119764
These two lectures explore how time is modeled in theoretical analyses of individual industries and of the entire economy. The atemporal Marshallian model is contrasted with an explicit time model with uncertainty about costs at the firm level. The book also examines data on job creation and job destruction; price setting behavior in monopolistic competition and costly search models; data on price changes; and both cyclical and seasonal data on the entire economy. With a focus on the command over purchasing power, the Arrow-Debreu and Hicksian ISLM models are compared with a number of explicit time models.
Product details
September 2009Paperback
9780521119764
136 pages
216 × 140 × 8 mm
0.18kg
Available
Table of Contents
- Preface
- Lecture I. Modelling an Industry:
- 1. Short run and long run
- 2. Pricing
- Lecture II. Modelling an Economy:
- 3. Short run and long run
- 4. Money, income and credit
- References
- Index.
