Out of Equilibrium

Name: Out of Equilibrium
Brand: Oxford University Press
SKU: 9780198293804
Price: 152.92 EUR
Availability: InStock

Автор: Mario Amendola, Jean-Luc Gaffard

Език:

Корици: С твърди корици

Издател: Oxford University Press

Наличност: Външен склад

Изпращаме след 10-18 дни

152.92 € 299.08 лв

Standard equilibrium economic models focus on interdependencies. In Out of Equilibrium, Amendola and...

Информация за книгата

Автор

Mario Amendola, Jean-Luc Gaffard

Език

Английски език

Корици

Книга - С твърди корици

Издадена

1998

страници

290

EAN

9780198293804

ISBN

0198293801

Enbook ID

04525193

Издател

Oxford University Press

Теглоt

566

Размери

148 x 224 x 25

Пълно описание

Standard equilibrium economic models focus on interdependencies. In Out of Equilibrium, Amendola and Gaffard develop a theory also dealing with interdependencies, but based on disequilibria, which take the form of feedback mechanisms over time. The way in which these disequilibria interact sequentially determines the evolution path of an economy. As a result, different processes may be associated with any kind of original shock. Whereas in equilibrium models these processes are determined by the 'fundamentals' of the economy, here the outcome is heavily influenced by the processes themselves, the sequential decisions taken, and policies followed. The model proposed in this book is a heuristic tool that makes it possible to explore these 'disequilibria'. By using it, economic phenomena and policy recommendations appear entirely different, and in most cases the interpretations made are diametrically opposite to those advocated by the dominant equilibrium theory, thus giving a new perspective on the recent past of the Western economies.

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