Business Cycles : Market Structure and Market Interaction /
The confidence in the market mechanisms for clearing all markets splits the economic profession. In this book, not only the existing business cycle literature is examined within the framework of economic stability, but also the market structure and the interaction of markets are analysed in their im...
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| Format: | eBook |
| Language: | English |
| Published: |
Heidelberg :
Physica-Verlag HD,
2000.
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| Series: | Contributions to economics.
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| Online Access: | Connect to the full text of this electronic book |
| Summary: | The confidence in the market mechanisms for clearing all markets splits the economic profession. In this book, not only the existing business cycle literature is examined within the framework of economic stability, but also the market structure and the interaction of markets are analysed in their impact on the business cycle. Nominal rigidities are shown to exist in the cases of monopoly, monopolistic competition with menu costs. For the case of oligopoly, a new approach is presented. Endogenous cycles are derived for a monopoly model. The interaction of a consumption goods sector and an investment goods sector is dealt with. Substitution between labour and capital with the sector and between the two sectors are identified as the main economic reasons for economic fluctuations. Emphasis is laid on the economic interpretation of the mostly mathematical analysis of optimal growth and overlapping-generations models and a new approach of partial equilibrium. |
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| Item Description: | Electronic resource. |
| Physical Description: | 1 online resource (viii, 191 pages 25 illustrations) |
| Format: | Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |
| Bibliography: | Includes bibliographical references (pages [175]-184) and index. |
| ISBN: | 9783642517426 (electronic bk.) 3642517420 (electronic bk.) |
| ISSN: | 1431-1933 |