On Time: Lectures on Models of Equilibrium (Churchill Lectures in Economics) Book + PRICE WATCH * Amazon pricing is not included in price watch

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

In these two lectures, first published in 1994, Peter Diamond explores how time is modelled in theoretical analyses of individual industries and of an entire economy. Both cyclical and seasonal data on the behaviour of macro-economies are examined.Read More

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  • Product Description

    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.

  • 0521119766
  • 9780521119764
  • Peter A. Diamond
  • 17 September 2009
  • Cambridge University Press
  • Paperback (Book)
  • 136
  • 1
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