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Temporary Equilibrium: Money, Expectations and Dynamics
CNRS.
1988 (English)Report (Other academic)
Abstract [en]

It is attempted in this review to present in accessible terms moden developments in the theory of temporary equilibrium and of economic dynamics initiated by the publication of Value and Capital. Attention is focussed on 1) the integration of money and financial assets in general equilibrium macroeconomic models and of their links with the theory of imperfect competition; 2) the occurrence and multiplicity of long run steady states, with self-fulfilling expectations, of the economic or social system (stationary states, deterministc cycles, stationary stochastic processes), and 3) the stability, or unstability, of these long run steady states when traders employ pre-specified learning processes.

Place, publisher, year, edition, pages
Stockholm: IIES , 1988. , 43 p.
Series
Seminar Paper / Institute for International Economic Studies, Stockholm University, ISSN 0347-8769 ; 422
Keyword [en]
temporary equilibrium, economic dynamics, money, expectations, business cycles, learning
National Category
Economics
Identifiers
URN: urn:nbn:se:su:diva-41609OAI: oai:DiVA.org:su-41609DiVA: diva2:331583
Note
Published in connection with a visit at the IIES.Available from: 2010-07-23 Created: 2010-07-23 Last updated: 2010-07-23

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CiteExportLink to record
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Citation style
  • apa
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Output format
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