Strict monotonicity in comparative statics

Article Abstract:

An analysis of monotonicity in comparative statics reveals that there are sufficient conditions where strict monotone comparative statics conclusions in optimization problems may be drawn with and without binding constraints. Imposing a stronger differential version of the single crossing property and arguing first-order conditions would enable the results to be extended to the Lattice-theoretic results of Milgrom and Shannon. These results are of particular importance in holdup problems, output decisions, optimal tax problems and modern manufacturing.

Research, Management science

---

Fickle consumers, durable goods, and business cycles

Article Abstract:

An analysis of the role of consumer durables in the generation and propagation of business cycles reveals that consumer durables can be modelled in a dynamic general equilibrium model with indeterminacy. This model is capable of generating the degree of persistence without the introduction of serial correlations. It is also shown that returns to scale can be of very low size in multisector models and yet able to generate fully specified general models with indeterminacy.

---

Endogenous strategic business cycles

Article Abstract:

An analysis of the resulting equilibria in a simple one-commodity model of the overlapping generations version of the Shapley-Shubik market game reveals that complex and chaotic equilibrium dynamics are possible. There is also an alternative to the technology-based explanation for the historical fact that the onset of industrialization brings about business cycles.

Reports, Economic research

Similar abstracts:

• Abstracts: Optimality of barter steady states. Endowments, stability, and fluctuations in OG models. No-trade and uniqueness of steady states
• Abstracts: Historical and comparative institutional analysis. Cliometrics - 40 years later. Cliometrics after 40 years
• Abstracts: GCC allows local banks to operate in member states. Electronic banking in the Kingdom
• Abstracts: Sluggish inflation and optimizing models of the business cycle. How the basic RBC model fails to explain US time series
• Abstracts: The impact of raising the US investment rate on the wage of low-educated labor. Customer flows, countercyclical markups, and the output effects of technology shocks

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.