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Table Of Contents

Overview and Summary
A Simple Dynamic Economy
2.1 General Principles for Specifying a Model
2.2 An Example Economy
2.2.1 Definition of Competitive Equilibrium
2.2.2 Solving for the Equilibrium
2.2.3 Pareto Optimality and the First Welfare Theorem
2.2.4 Negishi’s (1960) Method to Compute Equilibria
2.2.5 Sequential Markets Equilibrium
2.3 Appendix: Some Facts about Utility Func- tions
The Neoclassical Growth Model in Discrete Time
3.1 Setup of the Model
3.2 Optimal Growth: Pareto Optimal Alloca- tions
3.2.1 Social Planner Problem in Sequential Formulation
3.2.2 Recursive Formulation of Social Planner Problem
3.2.3 An Example
3.3 Competitive Equilibrium Growth
3.3.1 Definition of Competitive Equilibrium
3.3.3 Sequential Markets Equilibrium
3.3.4 Recursive Competitive Equilibrium
Mathematical Preliminaries
4.1 Complete Metric Spaces
4.2 Convergence of Sequences
4.3 The Contraction Mapping Theorem
4.4 The Theorem of the Maximum
Dynamic Programming
5.1 The Principle of Optimality
5.2 Dynamic Programming with Bounded Re- turns
Models with Uncertainty
6.1 Basic Representation of Uncertainty
6.2 Definitions of Equilibrium
6.2.1 Arrow-Debreu Market Structure
6.2.2 Sequential Markets Market Structure
6.2.3 Equivalence between Market Structures
6.3 Markov Processes
6.4 Stochastic Neoclassical Growth Model
The Two Welfare Theorems
7.1 What is an Economy?
7.2 Dual Spaces
7.3 Definition of Competitive Equilibrium
7.4 The Neoclassical Growth Model in Arrow- Debreu Language
7.5 A Pure Exchange Economy in Arrow-Debreu Language
7.6 The First Welfare Theorem
7.7 The Second Welfare Theorem
8.1 A Simple Pure Exchange Overlapping Gen- erations Model
8.1.1 Basic Setup of the Model
8.1.2 Analysis of the Model Using Offer Curves
8.1.3 Inefficient Equilibria
8.1.4 Positive Valuation of Outside Money
8.1.5 Productive Outside Assets
8.1.6 Endogenous Cycles
8.1.7 Social Security and Population Growth
8.2.1 Infinite Lifetime Horizon and Borrowing Constraints
8.2.2 Finite Horizon and Operative Bequest Motives
8.3 Overlapping Generations Models with Pro- duction
8.3.1 Basic Setup of the Model
8.3.2 Competitive Equilibrium
8.3.3 Optimality of Allocations
8.3.4 The Long-Run Effects of Government Debt
Continuous Time Growth Theory
9.1 Stylized Growth and Development Facts
9.1.1 Kaldor’s Growth Facts
9.1.2 Development Facts from the Summers-Heston Data Set
9.2 The Solow Model and its Empirical Evalua- tion
9.2.1 The Model and its Implications
9.2.2 Empirical Evaluation of the Model
9.3 The Ramsey-Cass-Koopmans Model
9.3.2 Setup of the Model
9.3.3 Social Planners Problem
9.3.4 Decentralization
9.4 Endogenous Growth Models
9.4.1 The Basic AK-Model
9.4.2 Models with Externalities
10.1.1 Data Sources
10.1.2 Main Stylized Facts
10.2 The Classic Income Fluctuation Problem
10.2.1 Deterministic Income
10.2.2 Stochastic Income and Borrowing Limits
10.3 Aggregation: Distributions as State Vari- ables
10.3.1 Theory
10.3.2 Numerical Results
Political Economy and Macroeconomics
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Published by Liyou Borga

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Published by: Liyou Borga on Jan 31, 2012
Copyright:Attribution Non-commercial


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