Introduction into capital theory: a Neo-Austrian perspective
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | German |
| Veröffentlicht: |
Berlin u.a.
Springer
1995
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | X, 291 S. graph. Darst. |
| ISBN: | 3540593500 |
Internformat
MARC
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Datensatz im Suchindex
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|---|---|
| adam_text | CONTENTS
1 Introduction and Motivation 1
1.1 Capital Theory: A First Characterization 1
1.2 A Theory of Allocation and Distribution over Time 3
1.3 Markets and Capital Theory 6
1.4 Neo Austrian Capital Theory: A Theory of Time 8
1.5 Outlook and Contents of the Book 9
PART I. Finite Horizon Economies: The Pure Role of Time
2 Basic Concepts 19
2.1 Prices, Interest Rates and Forward Markets 20
2.1.1 The Pure Role of Time 20
2.1.2 Some Conventions 23
2.1.3 Own Rates of Interest 24
2.2 Intertemporal Efficiency and the Invisible Hand 26
2.2.1 Intertemporal Production Programs 26
2.2.2 Intertemporal Efficiency 32
2.2.3 Decentralization and Efficiency 36
2.3 Intertemporal and Intra temporal Completeness 41
3 A Neo Austrian Approach: Basic Concepts 49
3.1 Preliminary Considerations 51
3.2 Superiority of Roundaboutness 53
3.2.1 Roundaboutness and Superiority 54
3.2.2 Innovation and Superiority of Roundaboutness 57
3.3 Positive Own Rates of Interest 65
3.3.1 Innovation and Positive Interest Rates 66
3.3.2 Time Preference and Positive Interest Rates 69
3.4 Appendix: A Non Substitution Theorem 75
VIII
4 Neo Austrian Concepts in a Multisector Multiperiod Framework 79
4.1 Preliminary Considerations 80
4.2 Impatience to Consume and Own Rates of Interest 85
4.2.1 Impatience to Consume: A Simple Definition 85
4.2.2 The Koopmans Diamond Definition 89
4.3 Superiority ofRoundaboumess and Own Interest Rates 94
4.3.1 A Straight forward Generalization 94
4.3.2 Short run Superiority of Roundaboutness 97
4.4 Concluding Remarks 99
PART II. Infinite Horizon Economies: Efficient Allocations and Prices
5 The Open Endedness of the Future: Motivation, Arguments,
Framework 105
5.1 Motivation 105
5.2 Arguments 107
5.2.1 The Open Endedness of the Future 107
5.2.2 Problems of Determining the End of Horizon Stocks 108
5.2.3 Modeling of the Directedness of Time 109
5.3 An Infinite Horizon Framework 111
5.4 Appendix: Boundedness of Feasible Intertemporal Consumption
Bundles 115
6 Steady State Economies 119
6.1 Definition and Preliminary Considerations 120
6.2 Steady State Analysis in a One Sector Economy 124
6.2.1 The Golden Rule and Capital Accumulation 126
6.2.2 An Interest Rate Characterization of Steady States 130
6.3 The Malinvaud Starrett Theory: A neo Austrian Perspective 133
6.3.1 Steady State and Superiority of Roundaboutness 136
6.3.2 Price Characterization of Non Golden Rules 141
IX
7 Prices in an Open ended World 145
7.1 Efficiency Prices: Preliminary Considerations 147
7.2 Infinite Horizon Price Concepts 150
7.2.1 The Linear Functional Approach 150
7.2.2 The MALINVAUD Approach 153
7.3 The Infinite Horizon Price Paradox: Reasons 156
7.4 Neo Austrian Theory and the Open ended Future 162
7.4.1 Non Tightness and Reachability 163
7.4.2 Roundaboutness and Superiority 167
7.4.3 Relationship 169
8 The Open Endedness of Time and Efficiency Prices: Sufficient
and Necessary Conditions 175
8.1 A Complete Characterization of Efficiency Prices 176
8.2 Interpretation and Examples 182
8.2.1 Superiority of Roundaboutness 182
8.2.2 Impatience to Consume 185
8.3 Appendix: The Existence of MALINVAUD Prices 193
PART IE. Incomplete Markets: Overlapping Generations and Computable
General Equilibria
9 Overlapping Generations, Superiority of Roundaboutness and
Pareto EfBciency 201
9.1 The Failure of the First Theorem of Welfare 203
9.2 An Overlapping Generations Model with Production 206
9.3 Competitive Equilibria, Present Value and the Transversality
Condition 212
9.4 Competitive Equilibria, Pareto Efficiency and Valuation Equilibria 219
9.5 Appendix: Existence of Competitive Equilibria and the Capital
Value Property 222
X
10 Incomplete Markets: A Neo Austrian Theory of Computable
General Equilibrium Models 229
10.1 Time in Computable Equilibrium Models 231
10.2 Innovation and Production: Conventional and Neo Austrian
Approach 233
10.3 A Formalization 242
10.3.1 Production Technique 243
10.3.2 Equilibrium 246
11 Incomplete Markets and Computable Equilibria: A Numerical
Illustration 253
11.1 Indroductionary Remarks 254
11.2 Innovation, Effluent Charges and Standards 255
11.3 Inputs into Numerical Illustrations 257
11.4 Outputs of the Numerical Illustration 259
11.5 Appendix: Equations of the Computational Model 266
11.5.1 Consumers Decision 267
11.5.2 Producers Decision 268
11.5.3 End of the Pipe Pollution Control 270
References 273
Author Index 283
Subject Index 287
|
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| callnumber-raw | HB501.S8992 1995 |
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| dewey-ones | 330 - Economics |
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| dewey-search | 330.12/2 330.12/2 20 |
| dewey-sort | 3330.12 12 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Book |
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| illustrated | Illustrated |
| indexdate | 2024-07-09T17:49:51Z |
| institution | BVB |
| isbn | 3540593500 |
| language | German |
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| publishDate | 1995 |
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| spelling | Stephan, Gunter 1952- Verfasser (DE-588)108956393 aut Introduction into capital theory a Neo-Austrian perspective Gunter Stephan Berlin u.a. Springer 1995 X, 291 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Kapitaal gtt Oostenrijkse school gtt Capital Austrian school of economics Wiener Schule Wirtschaftswissenschaften (DE-588)4140691-6 gnd rswk-swf Kapitaltheorie (DE-588)4130460-3 gnd rswk-swf Kapitaltheorie (DE-588)4130460-3 s DE-604 Wiener Schule Wirtschaftswissenschaften (DE-588)4140691-6 s HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=006843172&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Stephan, Gunter 1952- Introduction into capital theory a Neo-Austrian perspective Kapitaal gtt Oostenrijkse school gtt Capital Austrian school of economics Wiener Schule Wirtschaftswissenschaften (DE-588)4140691-6 gnd Kapitaltheorie (DE-588)4130460-3 gnd |
| subject_GND | (DE-588)4140691-6 (DE-588)4130460-3 |
| title | Introduction into capital theory a Neo-Austrian perspective |
| title_auth | Introduction into capital theory a Neo-Austrian perspective |
| title_exact_search | Introduction into capital theory a Neo-Austrian perspective |
| title_full | Introduction into capital theory a Neo-Austrian perspective Gunter Stephan |
| title_fullStr | Introduction into capital theory a Neo-Austrian perspective Gunter Stephan |
| title_full_unstemmed | Introduction into capital theory a Neo-Austrian perspective Gunter Stephan |
| title_short | Introduction into capital theory |
| title_sort | introduction into capital theory a neo austrian perspective |
| title_sub | a Neo-Austrian perspective |
| topic | Kapitaal gtt Oostenrijkse school gtt Capital Austrian school of economics Wiener Schule Wirtschaftswissenschaften (DE-588)4140691-6 gnd Kapitaltheorie (DE-588)4130460-3 gnd |
| topic_facet | Kapitaal Oostenrijkse school Capital Austrian school of economics Wiener Schule Wirtschaftswissenschaften Kapitaltheorie |
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