
Temporary Equilibrium and Long-Run Equilibrium (Routledge Revivals)
Willem H. Buiter(Author)
Routledge (Publisher)
1st Edition
Published on 6. July 2015
Book
Paperback/Softback
328 pages
978-1-138-01670-5 (ISBN)
Description
This title, first published in 1979, presents the Ph.D. thesis of the world-renowned economist and financial expert, Willem Buiter.
In Part I, three alternative specifications of temporary equilibria in asset markets, including their implications for macroeconomic models, are discussed; Part II examines the long-term implications of some short-term macroeconomic models. The analysis of the theoretical foundations of 'direct crowding out' and 'indirect crowding out' is particularly prominent, with the result that a synthesis of short-term macroeconomic analysis and long-term growth theory is formulated.
The traditional tools of comparative dynamics and stability analysis are employed frequently. However, it is also argued that the true scope of government policy can only be adequately evaluated with the aid of concepts such as dynamic and static controllability. Temporary Equilibrium and Long-Run Equilibrium is a valuable study, and relevant for all serious students of modern economic theory.
In Part I, three alternative specifications of temporary equilibria in asset markets, including their implications for macroeconomic models, are discussed; Part II examines the long-term implications of some short-term macroeconomic models. The analysis of the theoretical foundations of 'direct crowding out' and 'indirect crowding out' is particularly prominent, with the result that a synthesis of short-term macroeconomic analysis and long-term growth theory is formulated.
The traditional tools of comparative dynamics and stability analysis are employed frequently. However, it is also argued that the true scope of government policy can only be adequately evaluated with the aid of concepts such as dynamic and static controllability. Temporary Equilibrium and Long-Run Equilibrium is a valuable study, and relevant for all serious students of modern economic theory.
More details
Series
Language
English
Place of publication
London
United Kingdom
Publishing group
Taylor & Francis Ltd
Target group
College/higher education
Dimensions
Height: 234 mm
Width: 156 mm
Weight
380 gr
ISBN-13
978-1-138-01670-5 (9781138016705)
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Other editions
Additional editions

Willem H. Buiter
Temporary Equilibrium and Long-Run Equilibrium (Routledge Revivals)
E-Book
06/2014
1st Edition
Routledge
€64.49
Available for download

Willem H. Buiter
Temporary Equilibrium and Long-Run Equilibrium (Routledge Revivals)
E-Book
06/2014
1st Edition
Routledge
€64.49
Available for download

Willem H. Buiter
Temporary Equilibrium and Long-Run Equilibrium (Routledge Revivals)
Book
03/2014
1st Edition
Routledge
€217.50
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Person
Willem H. Buiter
Content
Part I: Some Alternative Notions of Demand and Supply in Asset Markets 1. Three Alternative Specifications of Temporary Equilibrium in Asset Markets 2. The Effect of Alternative Specifications of Temporary Equilibrium in Asset Markets on Short-Run Comparative Statics in Some Simple Macro Models; Part II: The Long-Run Implications of Short-Run Models 3. Direct Crowding Out 4. Indirect Crowding Out 5. Government Policy in a Growing Economy 6. Controllability, Stabilisation and Optimisation; Appendix 1: Stability in the Full Employment Model for the G' Policy; Appendix 2: Stability, Controllability, Stabilisation and Optimisation; Appendix 3: Two Kinds of Adjustment Processes; Bibliography