Dynamic Macroeconomics with Imperfect Competition:
This thesis was stimulated throughout the time of my participation in a research project on Dynamic Macroeconomics, supported by the German Research Foundation (DFG). The starting point was the central question of how to integrate price setting firms in a dynamic disequilibrium model. Almost all rec...
Saved in:
| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Berlin, Heidelberg
Springer Berlin Heidelberg
1999
|
| Edition: | 1st ed. 1999 |
| Series: | Lecture Notes in Economics and Mathematical Systems
475 |
| Subjects: | |
| Online Access: | BTU01 Volltext |
| Summary: | This thesis was stimulated throughout the time of my participation in a research project on Dynamic Macroeconomics, supported by the German Research Foundation (DFG). The starting point was the central question of how to integrate price setting firms in a dynamic disequilibrium model. Almost all recent literature on imperfect competition in macroeconomics applies the objective demand approach by assuming that firms know the true demand curve they are faced with. While this approach can be ap plied in temporary monetary equilibrium models, it proves inadequate for formulating price adjustment in a dynamic disequilibrium model, where it has to be replaced by the concept of subjective demand. Based on this distinction, the thesis starts out with a comparison of the concepts of subjective and objective demand in an abstract framework and surveys the literature on general equilibrium theory with imperfect competition. The objective demand approach is criticized not only on the grounds of its strong rationality requirements and existence problems, but also by the observation that it cannot be applied successfully to characterize determinate rational expectations equilibria in intertemporal macroeco nomics. Finally, price setting firms using subjective demand functions are integrated in a dynamic disequilibrium model in order to study mo nopolistic and oligopolistic price adjustment |
| Physical Description: | 1 Online-Ressource (XI, 155 p. 4 illus) |
| ISBN: | 9783642584794 |
| DOI: | 10.1007/978-3-642-58479-4 |
Staff View
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| spelling | Kaas, Leo Verfasser aut Dynamic Macroeconomics with Imperfect Competition by Leo Kaas 1st ed. 1999 Berlin, Heidelberg Springer Berlin Heidelberg 1999 1 Online-Ressource (XI, 155 p. 4 illus) txt rdacontent c rdamedia cr rdacarrier Lecture Notes in Economics and Mathematical Systems 475 This thesis was stimulated throughout the time of my participation in a research project on Dynamic Macroeconomics, supported by the German Research Foundation (DFG). The starting point was the central question of how to integrate price setting firms in a dynamic disequilibrium model. Almost all recent literature on imperfect competition in macroeconomics applies the objective demand approach by assuming that firms know the true demand curve they are faced with. While this approach can be ap plied in temporary monetary equilibrium models, it proves inadequate for formulating price adjustment in a dynamic disequilibrium model, where it has to be replaced by the concept of subjective demand. Based on this distinction, the thesis starts out with a comparison of the concepts of subjective and objective demand in an abstract framework and surveys the literature on general equilibrium theory with imperfect competition. The objective demand approach is criticized not only on the grounds of its strong rationality requirements and existence problems, but also by the observation that it cannot be applied successfully to characterize determinate rational expectations equilibria in intertemporal macroeco nomics. Finally, price setting firms using subjective demand functions are integrated in a dynamic disequilibrium model in order to study mo nopolistic and oligopolistic price adjustment Economic Theory/Quantitative Economics/Mathematical Methods Economic theory Gleichgewichtstheorie (DE-588)4071876-1 gnd rswk-swf Mathematisches Modell (DE-588)4114528-8 gnd rswk-swf Dynamische Makroökonomie (DE-588)4200428-7 gnd rswk-swf Unvollständige Konkurrenz (DE-588)4121834-6 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Gleichgewichtstheorie (DE-588)4071876-1 s Mathematisches Modell (DE-588)4114528-8 s DE-604 Unvollständige Konkurrenz (DE-588)4121834-6 s Dynamische Makroökonomie (DE-588)4200428-7 s Erscheint auch als Druck-Ausgabe 9783540660293 Erscheint auch als Druck-Ausgabe 9783642584800 https://doi.org/10.1007/978-3-642-58479-4 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Kaas, Leo Dynamic Macroeconomics with Imperfect Competition Economic Theory/Quantitative Economics/Mathematical Methods Economic theory Gleichgewichtstheorie (DE-588)4071876-1 gnd Mathematisches Modell (DE-588)4114528-8 gnd Dynamische Makroökonomie (DE-588)4200428-7 gnd Unvollständige Konkurrenz (DE-588)4121834-6 gnd |
| subject_GND | (DE-588)4071876-1 (DE-588)4114528-8 (DE-588)4200428-7 (DE-588)4121834-6 (DE-588)4113937-9 |
| title | Dynamic Macroeconomics with Imperfect Competition |
| title_auth | Dynamic Macroeconomics with Imperfect Competition |
| title_exact_search | Dynamic Macroeconomics with Imperfect Competition |
| title_exact_search_txtP | Dynamic Macroeconomics with Imperfect Competition |
| title_full | Dynamic Macroeconomics with Imperfect Competition by Leo Kaas |
| title_fullStr | Dynamic Macroeconomics with Imperfect Competition by Leo Kaas |
| title_full_unstemmed | Dynamic Macroeconomics with Imperfect Competition by Leo Kaas |
| title_short | Dynamic Macroeconomics with Imperfect Competition |
| title_sort | dynamic macroeconomics with imperfect competition |
| topic | Economic Theory/Quantitative Economics/Mathematical Methods Economic theory Gleichgewichtstheorie (DE-588)4071876-1 gnd Mathematisches Modell (DE-588)4114528-8 gnd Dynamische Makroökonomie (DE-588)4200428-7 gnd Unvollständige Konkurrenz (DE-588)4121834-6 gnd |
| topic_facet | Economic Theory/Quantitative Economics/Mathematical Methods Economic theory Gleichgewichtstheorie Mathematisches Modell Dynamische Makroökonomie Unvollständige Konkurrenz Hochschulschrift |
| url | https://doi.org/10.1007/978-3-642-58479-4 |
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