LEADER 05610nam 2200745Ia 450 001 9910465485203321 005 20200520144314.0 010 $a1-280-52852-4 010 $a1-4294-1527-4 010 $a0-19-535631-4 035 $a(CKB)2560000000293961 035 $a(EBL)271347 035 $a(OCoLC)252595837 035 $a(SSID)ssj0000141940 035 $a(PQKBManifestationID)11148707 035 $a(PQKBTitleCode)TC0000141940 035 $a(PQKBWorkID)10091587 035 $a(PQKB)10274421 035 $a(StDuBDS)EDZ0000024601 035 $a(MiAaPQ)EBC271347 035 $a(Au-PeEL)EBL271347 035 $a(CaPaEBR)ebr10142286 035 $a(CaONFJC)MIL52852 035 $a(OCoLC)935260335 035 $a(EXLCZ)992560000000293961 100 $a19960531d1997 uy 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aDynamic economics$b[electronic resource] $eoptimization by the Lagrange method /$fGregory C. Chow 210 $aNew York $cOxford University Press$d1997 215 $a1 online resource (249 p.) 300 $aDescription based upon print version of record. 311 $a0-19-510192-8 311 $a0-19-985503-X 320 $aIncludes bibliographical references (p. 208-213) and index. 327 $aContents; Chapter One: Introduction; 1.1 Dynamic Economics and Optimization; 1.2 Methods of Dynamic Optimization; 1.3 Economic Growth; 1.4 Theories of Market Equilibrium; 1.5 Business Cycles; 1.6 Dynamic Games; 1.7 Models in Finance; 1.8 Models of Investment; 1.9 Numerical Methods for Solving First-Order Conditions in Dynamic Optimization Problems; Chapter Two: Dynamic Optimization in Discrete Time; 2.1 The Method of Lagrange Multipliers by an Example; 2.2 The Method of Dynamic Programming by an Example; 2.3 Solution of a Standard Dynamic Optimization Problem 327 $a2.4 Numerical Solution by Linear Approximations of ? and g2.5 Sufficient Conditions for a Globally Optimal Solution; 2.6 Relations to Known Results on Optimization; Problems; Chapter Three: Economic Growth; 3.1 The Brock-Mirman Growth Model; 3.2 A Multi-sector Growth Model; 3.3 A Growth Model Based on Human Capital and Fertility; 3.4 Technology and Economic Growth; 3.5 Research and Development and Economic Growth; Problems; Chapter Four: Theories of Market Equilibrium; 4.1 Asset Prices of an Exchange Economy; 4.2 Equilibrium in a Pure Currency Economy 327 $a4.3 A Pure Credit Economy with Linear Utility 4.4 Money and Interest in a Cash-In-Advance Economy; 4.5 A One-Sector Model of General Equilibrium; 4.6 Equilibrium of a Multi-sector Model; 4.7 Equilibrium of a One-Sector Model with Tax Distortion; Problems; Chapter Five: Business Cycles; 5.1 Keynes and the Classics; 5.2 Dynamic Properties of a Multi-sector Model with Technology Shocks; 5.3 Estimating Economic Effects of Political Events in China; 5.4 Estimating and Testing a Base-Line Real Business Cycle Model; 5.5 Real Business Cycles and Labor Market Fluctuations 327 $a5.6 Oligopolistic Pricing and Aggregate Demand 5.7 Research on Real Business Cycles; Problems; Chapter Six: Dynamic Games; 6.1 A Formulation of Models of Dynamic Games; 6.2 Price Determination of Duopolists with No Consumer Switching; 6.3 A Characterization of Subgame Perfect Equilibrium for Infinitely Repeated Games; 6.4 A Characterization of Subgame Perfect Equilibrium for Dynamic Games; 6.5 Credible Government Policy; 6.6 Credible Taxation to Redistribute Income; Problems; Chapter Seven: Models in Finance; 7.1 Stochastic Differential Equations 327 $a7.2 Dynamic Programming for a Continuous-Time Model 7.3 Solution of a Continuous-Time Optimization Problem by Lagrange Multipliers; 7.4 An Algebraic Method for Finding the Optimal Control Function; 7.5 Optimum Consumption and Portfolio Selection Over Time; 7.6 Capital Asset Pricing with Shifts in Investment Opportunities; 7.7 The Pricing of Options and Corporate Liabilities; 7.8 Asset Pricing and Portfolio Selection with Noise in Supply; 7.9 Asset Pricing and Portfolio Selection with Asymmetric Information; 7.9a The Kalman Filter in Continuous Time; Problems 327 $aChapter Eight: Models of Investment 330 $aThis work provides a unified and simple treatment of dynamic economics using dynamic optimization as the main theme, and the method of Lagrange multipliers to solve dynamic economic problems. The author presents the optimization framework for dynamic economics in order that readers can understand the approach and use it as they see fit. Instead of using dynamic programming, the author chooses instead to use the method of Lagrange multipliers in the analysis of dynamic optimization because it is easier and more efficient than dynamic programming, and allows readers to understand the substance of 606 $aMathematical optimization 606 $aMultipliers (Mathematical analysis) 606 $aEquilibrium (Economics) 606 $aStatics and dynamics (Social sciences) 606 $aEconomic development 608 $aElectronic books. 615 0$aMathematical optimization. 615 0$aMultipliers (Mathematical analysis) 615 0$aEquilibrium (Economics) 615 0$aStatics and dynamics (Social sciences) 615 0$aEconomic development. 676 $a330/.01/51 700 $aChow$b Gregory C.$f1929-$0101806 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910465485203321 996 $aDynamic Economics$9465723 997 $aUNINA