Economic Dynamics Theory Games and Empirical Studies 1st Edition by Chester Hurlington 1604569115 978-1604569117

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Product details:

ISBN 10: 1604569115

ISBN 13: 978-1604569117

Author: Chester W. Hurlington

Economic dynamic theory includes dynamic games, dynamic general equilibrium theory, and empirical studies. The following topics are subsumed: business cycles, asset pricing, search models, intergenerational issues, fertility, financial systems. This new book presents the latest research from around the globe.

Economic Dynamics Theory Games and Empirical Studies 1st Table of contents:

Chapter 1: Transitional Dynamics and Welfare Effects of the Public Investment/Output Ratio

Abstract
Introduction
The Environment
The Equilibrium, the Calibration, the Simulation, and the Government Problem
The Public Investment Policy under Alternative Tax Scenarios
Sensitivity Analysis
Conclusions
Appendix: Solving the Dynamics
References

Chapter 2: Levy Processes and Option Pricing by Recursive Quadrature

Abstract
Introduction
The Levy Market Model for Discrete Monitoring Path-Dependent Options
A Hybrid Quadrature-Based Numerical Method
Numerical Experiments
Conclusions
Appendix: Error Analysis
References

Chapter 3: Labor Market Imperfections and Endogenous Business Cycles

Abstract
Introduction
The Model
The Full Employment Case
The Model with Sticky Wages: The Basic Equations
The Steady State
The Instability of the Stationary Solution
Conclusions
Appendix 1: Derivation of Equation (16)
Appendix 2: Proof of Proposition I
Appendix 3: Proof of Proposition II
References

Chapter 4: Analyzing Economic Policy Using High Order Perturbations

Abstract
Introduction
The Ramsey Optimal Growth Model with Capital Taxation
The Method of General Perturbations
Applying the Method of General Perturbations to a Permanent Change in the Rate of Capital Taxation
Welfare Calculations
Conclusion
Appendix

Chapter 5: Invariance in Economic Dynamics and the Sustainable Development Issue

Abstract
Introduction: Sustainable Development Issue and Economic Dynamics
Neoclassical Growth Theory and the Environment
Invariance and Sustainability
Discussion
Conclusion
References

Chapter 6: Endogenous Capital Utilization and Depreciation under Capital Maintenance in the AK Growth Model

Abstract
Introduction
The Economy
The Optimization Problem
The Dynamic System and the Closed-Form Solution
Balanced Growth Path and Comparative Statics
Conclusion
Appendix
References

Chapter 7: Social Status, the Spirit of Capitalism, and the Term Structure of Interest Rates in Stochastic Production Economies

Abstract
Introduction
The Model
An Explicit Solution
Comparative Static Analysis
Equilibrium Interest Rates
Conclusion
Appendix A: The Steady-State Distribution for a Diffusion Process
Appendix B: The Case of Non-Separable Utility Function
References

Chapter 8: On the Investment-Uncertainty Relationship

Abstract
Introduction
The Model
Solution to the Model
The Trigger-Uncertainty Relationship
The Investment-Uncertainty Relationship
Conclusion
References

Chapter 9: Realized Volatility and Correlation Estimators under Non-Gaussian Microstructure Noise

Abstract
Introduction
Realized Power Volatility and Correlation
Self-Similar Processes
Behavior on Finite Samples: Simulation Experiments
Empirical Behaviors of the Estimators
Conclusion and Discussion
References

Chapter 10: Why Increased Knowledge Does Not Necessarily Improve Trading Success: A Monte-Carlo Simulation

Abstract
Introduction
Market Model
Monte-Carlo Simulation
Conclusion
References

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