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

Diamond, Peter

ISBN 10: 0521119766 / ISBN 13: 9780521119764

Published by Cambridge University Press, 2009

About this Item

In these two lectures Peter Diamond explores how time is modelled in theoretical analyses of individual industries and of an entire economy. Series: Churchill Lectures in Economics. Num Pages: 136 pages, 5 line figures. BIC Classification: KCA; KCB. Category: (P) Professional & Vocational. Dimension: 216 x 140 x 8. Weight in Grams: 180. . 2009. 1st Edition. paperback. . . . . Books ship from the US and Ireland.

Seller Inventory # V9780521119764

Bibliographic Details

• Title: On Time: Lectures on Models of Equilibrium (Churchill Lectures in Economics)
• Publisher: Cambridge University Press
• Publication Date: 2009
• Language: English
• ISBN 10: 0521119766
• ISBN 13: 9780521119764
• Binding: Soft cover
• Condition: New

About this title

Synopsis

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.

Book Description

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.