Dynamic economics [[electronic resource] ] : optimization by the Lagrange method / / Gregory C. Chow

• Autore: Chow Gregory C. <1929->
• Pubblicazione: New York, : Oxford University Press, 1997
• Descrizione fisica: 1 online resource (249 p.)
• Disciplina: 330/.01/51
• Soggetto topico: Mathematical optimization; Multipliers (Mathematical analysis); Equilibrium (Economics); Statics and dynamics (Social sciences); Economic development
• Soggetto genere / forma: Electronic books.
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references (p. 208-213) and index.
• Nota di contenuto: Contents; 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 ; 2.4 Numerical Solution by Linear Approximations of λ 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 ; 4.3 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 ; 5.6 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 ; 7.2 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 ; Chapter Eight: Models of Investment
• Sommario/riassunto: This 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
• Titolo autorizzato: Dynamic Economics
• ISBN: 1-280-52852-4; 1-4294-1527-4; 0-19-535631-4
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910465485203321
• Lo trovi qui: Univ. Federico II