Growth Theory, Nonlinear Dynamics and Economic Modelling: Scientific Essays of William Allen Brock

Growth Theory, Nonlinear Dynamics and Economic Modelling: Scientific Essays of William Allen Brock

by William A. Brock
     
 

ISBN-10: 1858988144

ISBN-13: 9781858988146

Pub. Date: 01/01/2001

Publisher: Elgar, Edward Publishing, Inc.

Essays by a leader in the field of economics, originally published as articles in various economic journals between 1972 and 1997, illustrate the power of dynamic modeling to shed light on the forces of stability and instability in economic systems. Themes are stochastic models and optimal growth, financial and macroeconomic modeling, nonlinearity in economics, and…  See more details below

Overview

Essays by a leader in the field of economics, originally published as articles in various economic journals between 1972 and 1997, illustrate the power of dynamic modeling to shed light on the forces of stability and instability in economic systems. Themes are stochastic models and optimal growth, financial and macroeconomic modeling, nonlinearity in economics, and ecology, mechanism design, and regulation. Some subjects are asset prices in a production economy, the economics of regulatory tiering, and optimal economic growth and uncertainty. An introduction by Brock ties together the main aspects of his research to date. Brock teaches economics at the University of Wisconsin-Madison. Dechert teaches economics at the University of Houston. The book is not indexed by subject. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Product Details

ISBN-13:
9781858988146
Publisher:
Elgar, Edward Publishing, Inc.
Publication date:
01/01/2001
Series:
Economists of the Twentieth Century Series
Pages:
480
Product dimensions:
6.12(w) x 9.25(h) x (d)

Table of Contents

Acknowledgements
Introduction
Introduction and Discussion
Pt. 1Stochastic Models
1Optimal Economic Growth And Uncertainty: The Discounted Case3
2Global Asymptotic Stability Results for Multisector Models of Optimal Growth under Uncertainty When Future Utilities are Discounted38
3Dynamics under Uncertainty57
Pt. 2Financial Modelling and Related Macroeconomic Modelling
4Asset Prices in a Production Economy85
5The Bang-Bang Model of Public Utility Regulation in Intertemporal General Equilibrium128
6Liquidity Constraints in Production Based Asset Pricing Models141
7A Dynamic Structural Model for Stock Return Volatility and Trading Volume166
Pt. 3Ecology, Mechanism Design and Regulation
8A Polluted Golden Age201
9The Economics of Regulatory Tiering215
10The Design of Mechanism for Efficient Allocation of Public Goods227
Pt. 4Nonlinearity in Economics
11Theorems of Distinguishing Deterministic From Random Systems265
12Some Theory of Statistical Inference for Nonlinear Science284
13A Nonparametric Test for Independence of a Multivariate Time Series304
14A Test for Independence Based on the Correlation Dimension324
15Asset Price Behavior In Complex Environments363
16A Rational Route to Randomness402
Name Index439

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