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On Time: Lectures on Models of Equilibrium (Churchill Lectures in Economics) PDF

135 Pages·2009·3.088 MB·English
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by Peter A. Diamond| 2009| 135 pages| 3.088| English

About On Time: Lectures on Models of Equilibrium (Churchill Lectures in Economics)

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.

Detailed Information

Author:Peter A. Diamond
Publication Year:2009
ISBN:9780521119764
Pages:135
Language:English
File Size:3.088
Format:PDF
Price:FREE
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