Industrialization and substitutability: a note
Article Abstract:
The effect of technological progress on industrialization and the equilibrium dynamics is examined using a simple model assuming in a small open economy with two final goods. Analysis suggests that the degree of substitutability among intermediate inputs should be an important factor when a development strategy is planned.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 2004
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Subjective temporary equilibrium
Article Abstract:
The notion of a subjective temporary equilibrium, within the framework of a simple example is introduced. The resulting non-linear law of motion is referred to as a subjective temporary equilibrium as its specification is determined largely by the subjective beliefs of the agents regarding the dynamics of this system.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 2004
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Real options and preemption under incomplete information
Article Abstract:
Incomplete information and preemption into an equilibrium model of firms facing real investment decisions is introduced. The model implies that the equity returns of firms that hold real options and are subject to preemption will contain jumps and positive skewness.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 2003
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