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Economic schools --- Equilibrium (Economics) --- History --- AA / International- internationaal --- 330.01 --- Theorie van het economisch evenwicht. --- 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) --- Theorie van het economisch evenwicht --- Equilibrium (Economics) - History

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Optimal growth theory studies the problem of efficient resource allocation over time, a fundamental concern of economic research. Since the 1970s, the techniques of nonlinear dynamical systems have become a vital tool in optimal growth theory, illuminating dynamics and demonstrating the possibility of endogenous economic fluctuations. Kazuo Nishimura's seminal contributions on business cycles, chaotic equilibria and indeterminacy have been central to this development, transforming our understanding of economic growth, cycles, and the relationship between them. The subjects of Kazuo's analysis remain of fundamental importance to modern economic theory. This book collects his major contributions in a single volume. Kazuo Nishimura has been recognized for his contributions to economic theory on many occasions, being elected fellow of the Econometric Society and serving as an editor of several major journals. Chapter “Introduction” is available open access under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License via link.springer.com.

Economic development -- Econometric models. --- Economics. --- Economics -- Mathematical models. --- Endogenous growth (Economics). --- Business & Economics --- Economic Theory --- Economics --- Statics and dynamics (Social sciences) --- Equilibrium (Economics) --- International trade --- Economic development --- Mathematical models. --- Econometric models. --- Growth models (Economics) --- Disequilibrium (Economics) --- Economic equilibrium --- General equilibrium (Economics) --- Partial equilibrium (Economics) --- Economic growth. --- Economic Growth. --- DGE (Economics) --- DSGE (Economics) --- Dynamic stochastic general equilibrium (Economics) --- SDGE (Economic theory) --- Economics, Mathematical --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Development economics --- Resource curse

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One of the core building blocks of traditional economic theory is the concept of equilibrium, a state of the world in which economic forces are balanced and in the absence of external influences the values of economic variables remain static.  Many traditional equilibrium models, or equilibria, are established based on the rational behavior of individuals within financial markets, such as traders, market analysts, and investing firms, and their ability to maximize profits, no matter the cost.  Yet what happens when these market participants behave in an irrational manner, and how does this impact economic equilibria?  Contemporary economists have agreed that a process similar to Darwin’s Theory of Natural Selection takes over, whereby equilibria are shaped not by the behavior of individual participants but by an environment outside its control (i.e., an environment with little concern for maximizing profits).  It is an environment in which those “selected” produce positive financial gains, but have no regard for how it was obtained or underlying motivations—and those participants suffering losses disappear altogether.  Evolutionary Foundations of Equilibria in Irrational Markets proves traditional economic equilibria continue to occur despite natural selection in irrational markets.  It covers a wide sampling of equilibria under various scenarios, and each chapter addresses the results of these models at an aggregate level.  The text is supplemented with charts and figures to drive home key findings and proofs, making it of interest to students and researchers in the areas of economics and behavioral finance.

Equilibrium (Economics) -- Mathematical models. --- Equilibrium (Economics) --- Business & Economics --- Economic Theory --- Mathematical models --- Capital market. --- eEvolutionary economics. --- Capital markets --- Market, Capital --- Disequilibrium (Economics) --- Economic equilibrium --- General equilibrium (Economics) --- Partial equilibrium (Economics) --- Economic theory. --- Macroeconomics. --- Economics. --- Economic Theory/Quantitative Economics/Mathematical Methods. --- Macroeconomics/Monetary Economics//Financial Economics. --- Finance --- Financial institutions --- Loans --- Money market --- Securities --- Crowding out (Economics) --- Efficient market theory --- DGE (Economics) --- DSGE (Economics) --- Dynamic stochastic general equilibrium (Economics) --- SDGE (Economic theory) --- Economics --- Statics and dynamics (Social sciences) --- Economic theory --- Political economy --- Social sciences --- Economic man

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This paper surveys dynamic stochastic general equilibrium models with financial frictions in use by central banks and discusses priorities for future development of such models for the purpose of monetary and financial stability analysis. It highlights the need to develop macrofinancial models which allow analysis of the macroeconomic effects of macroprudential policy tools and to evaluate elements of the Basel III reforms as a priority. The paper also reviews the main approaches to introducing financial frictions into general equilibrium models.

Business & Economics --- Economic Theory --- Equilibrium (Economics) --- Banks and banking, Central. --- Global Financial Crisis, 2008-2009. --- Global Economic Crisis, 2008-2009 --- Subprime Mortgage Crisis, 2008-2009 --- Banker's banks --- Banks, Central --- Central banking --- Central banks --- Disequilibrium (Economics) --- Economic equilibrium --- General equilibrium (Economics) --- Partial equilibrium (Economics) --- Financial crises --- Banks and banking --- DGE (Economics) --- DSGE (Economics) --- Dynamic stochastic general equilibrium (Economics) --- SDGE (Economic theory) --- Economics --- Statics and dynamics (Social sciences) --- Banks and Banking --- Econometrics --- Finance: General --- Forecasting --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Financial Forecasting and Simulation --- Financial Markets and the Macroeconomy --- Forecasting and Simulation: Models and Applications --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Financial Economics --- General Financial Markets: Government Policy and Regulation --- General Financial Markets: General (includes Measurement and Data) --- Computable and Other Applied General Equilibrium Models --- Forecasting and Other Model Applications --- Banking --- Finance --- Economic theory & philosophy --- Econometrics & economic statistics --- Economic Forecasting --- Financial frictions --- Financial stability assessment --- Interbank markets --- Dynamic stochastic general equilibrium models --- Economic theory --- Financial sector policy and analysis --- Economic forecasting --- Econometric analysis --- Financial markets --- Financial services industry --- International finance --- Econometric models --- New Zealand