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Building on The Dynamics of Keynesian Monetary Growth by Chiarella and Flaschel (2000), this 2005 book is a key contribution to business cycle theory, setting out a disequilibrium approach with gradual adjustments of the key macroeconomic variables. Its analytic study of a deterministic model of economic activity, inflation and income distribution integrates elements in the tradition of Keynes, Metzler and Goodwin (KMG). After a qualitative analysis of the basic feedback mechanisms, the authors calibrate the KMG model to the stylized facts of the business cycle in the U.S. economy, and then undertake a detailed numerical investigation of the local and global dynamics generated by the model. Finally, topical issues in monetary policy are studied in small macromodels as well as for the KMG model by incorporating an estimated Taylor-type interest rate reaction function. The stability features of this enhanced model are also compared to those of the original KMG model.

Business cycles --- Equilibrium (Economics) --- DGE (Economics) --- Disequilibrium (Economics) --- DSGE (Economics) --- Dynamic stochastic general equilibrium (Economics) --- Economic equilibrium --- General equilibrium (Economics) --- Partial equilibrium (Economics) --- SDGE (Economic theory) --- Economics --- Statics and dynamics (Social sciences) --- Econometric models. --- Business, Economy and Management

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This book brings together in a single coherent framework a research programme begun by the author in the forties. The main model around which the analysis is built is Hicksian in character, having been drawn in large part from John Hicks's Value and Capital. The model is extended so as to include money and securities. In respect of the theory of the firm the model focuses on demand and supply plans, on inputs and outputs, on inventories, and on dependencies between them. The stability of temporary equilibrium is discussed for linear and non-linear cases. Because the concept of structural stability is important for understanding non-linear cases, it is defined and applied to the case of economic motion generated from the temporary equilibrium analysis. The addenda focus on developments in economic theory following the publication of the main model.

Quantitative methods (economics) --- Equilibrium (Economics) --- Statics and dynamics (Social sciences) --- 339.0724 --- Disequilibrium (Economics) --- Economic equilibrium --- General equilibrium (Economics) --- Partial equilibrium (Economics) --- Economics --- Stagnation (Economics) --- Dynamics and statics (Social sciences) --- Equilibrium (Social sciences) --- Social evolution --- Social sciences --- Sociology --- Business, Economy and Management --- DGE (Economics) --- DSGE (Economics) --- Dynamic stochastic general equilibrium (Economics) --- SDGE (Economic theory) --- ECONOMICS --- EQUILIBRIUM (PHYSICS) --- STATICS AND DYNAMICS --- EQUILIBRIUM

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This book develops dynamic economic models using the perspective and analytic framework provided by psychological learning theory. This framework is used to resolve apparent contradictions between optimization theory, which lies at the heart of all modern economic theory, and day-to-day evidence that short-run economic behaviour cannot reasonably be described solely as the outcome of efficiently implemented self-interest. The author applies this viewpoint to a number of problem areas in which literal applications of maximization theory have not usually proved to be satisfactory. These include analyses of decision-making under uncertainty and gambling behaviour, the role of consumer-oriented advertising in influencing behaviour, the persistence of price dispersions in markets, and inflation.

Marketing --- Microeconomics --- Equilibrium (Economics) --- Learning, Psychology of --- Psychological aspects --- Business, Economy and Management --- Economics --- Microeconomics - Psychological aspects --- Learning, Psychology of. --- Psychological aspects. --- Price theory --- Learning --- Psychology of learning --- Educational psychology --- Comprehension --- Learning ability --- DGE (Economics) --- Disequilibrium (Economics) --- DSGE (Economics) --- Dynamic stochastic general equilibrium (Economics) --- Economic equilibrium --- General equilibrium (Economics) --- Partial equilibrium (Economics) --- SDGE (Economic theory) --- Statics and dynamics (Social sciences)

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Economic growth --- Economic development --- Equilibrium (Economics) --- croissance economique --- econometrie --- economische groei --- Economic development. --- Equilibrium (Economics). --- DGE (Economics) --- Disequilibrium (Economics) --- DSGE (Economics) --- Dynamic stochastic general equilibrium (Economics) --- Economic equilibrium --- General equilibrium (Economics) --- Partial equilibrium (Economics) --- SDGE (Economic theory) --- Economics --- Statics and dynamics (Social sciences) --- Development, Economic --- Growth, Economic --- Economic policy --- Development economics --- Resource curse

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This argues that it is really microeconomics' concern with the functioning of markets that underlies the theories which attempt to provide macroeconomics with microfoundations.

Equilibrium (Economics) --- Macroeconomics --- Microeconomics --- Equilibre (Economie politique) --- Macroéconomie --- Micro-économie --- Microeconomics. --- Macroeconomics. --- Equilibrium (Economics). --- Economic Theory --- Business & Economics --- Macroéconomie --- Micro-économie --- Disequilibrium (Economics) --- Economic equilibrium --- General equilibrium (Economics) --- Partial equilibrium (Economics) --- Price theory --- DGE (Economics) --- DSGE (Economics) --- Dynamic stochastic general equilibrium (Economics) --- SDGE (Economic theory) --- Economics --- Statics and dynamics (Social sciences)