ENGLISH

Time and Money: How Long and How Much Money is Needed to Regulate a Viable Economy

By Jean-Pierre Aubin (auth.)

Book information

Publisher
Springer International Publishing
Year
2014
ISBN
978-3-319-00005-3, 3319000055, 978-3-319-00004-6
DOI
10.1007/978-3-319-00005-3
Language
english
Format
PDF
Filesize
4 MB (4267541 bytes)
Series
Lecture Notes in Economics and Mathematical Systems 670
Edition
1
Pages
144\155
Time added
2014-06-12 06:00:00
Economic Theory;Calculus of Variations and OptimalPopulation and Evolutionary Models;Complex Systems

Description

This authored monograph presents an unconventional approach to an important topic in economic theory. The author is an expert in the field of viability theory and applies this theory to analyze how an economy should be dynamically endowed so that it is economically viable. Economic viability requires an assumption on the joint evolution of transactions, fluctuations of prices and units of numeraire goods: the sum of the “transactions values” and the “impact of price fluctuations” should be negative or equal to zero. The book presents a computation of the minimum endowment which restores economic viability and derives the dynamic laws that regulate both transactions and price fluctuations. The target audience primarily comprises open-minded and mathematically interested economists but the book may also be beneficial for graduate students.

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