Out of equilibrium:

"Standard equilibrium economic models focus on interdepencies. 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 sequen...

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Bibliographic Details
Main Authors: Amendola, Mario (Author), Gaffard, Jean-Luc (Author)
Format: Book
Language:English
Published: Oxford Clarendon Press 1998
Edition:1. publ.
Subjects:
Summary:"Standard equilibrium economic models focus on interdepencies. 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."--BOOK JACKET.
Physical Description:IX, 280 S. graph. Darst.
ISBN:0198293801

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