ENGLISH

General equilibrium, overlapping generations models, and optimal growth theory

By Truman F. Bewley

Book information

Publisher
Harvard University Press
Year
2007
ISBN
0674022882, 9780674022881, 9780674020924
Open Library ID
OL7691782M
Language
english
Format
PDF
Filesize
3 MB (2724135 bytes)
Pages
615\615
Topic
Economy
Library
Kolxo3
Time added
2010-07-29 05:14:56

Description

This book presents an original exposition of general equilibrium theory for advanced undergraduate and graduate-level students of economics. It contains detailed discussions of economic efficiency, competitive equilibrium, the first and second welfare theorems, the Kuhn-Tucker approach to general equilibrium, the Arrow-Debreu model, and rational expectations equilibrium and the permanent income hypothesis. Truman Bewley also treats optimal growth and overlapping generations models as special cases of the general equilibrium model. He uses the model and the first and second welfare theorems to explain the main ideas of insurance, capital theory, growth theory, and social security. It enables him to present a unified approach to portions of macro- as well as microeconomic theory. The book contains problems sets for most chapters.

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