Description: Visible Hand : Synergetic Microfoundation of Macroeconomic Dynamics, Paperback by Koblo, Reiner B., ISBN 3540545956, ISBN-13 9783540545958, Brand New, Free shipping in the US In the last decade highly innovatory developments have taken place in theoretical economics. The new focus of interest seems to be twofold: Firstly, nonlinear models for dynamic processes of the economy are constructed to extend the scope of linear models for tlle stationary euqilibrium state; and secondly a new approach is made to solve the everlasting problem of the relation between micro-and macro-economics. The interdisciplinary field of synergetics is deeply involved in this evolution. The author has made a remarkable contribution to both foci: His application of synergetic concepts to the theory of business cycles combines a partial solution of the micro-macro-problem, namely the modelling of the macro-economic effect of the decisions of investors, producers and consumers, with the natural introduction of nonlinearities. The arising new business cycle theory can on the one side be validated by empirical evidence and on the other hand the typical behavior of nonlinear dynamic systems including the transition to deterministic chaos can be clearly demonstrated. The hope is justified that the model presented in this book is a fwther important step in reaching a new level of the quantitative comprehension of dynamic phenomena in the economy. Stuttgart, June 1991 Prof. Dr. Wolfgang Weidlich Foreword It is the authors objective to explain macroeconomic processes on the basis of micro economic decision-making behaviour. In order to achieve this goal, the concept of synergetics is presented as a method of describing dynamic phenomena in multi-com ponent systems with cooperative interactions between their elements.
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Book Title: Visible Hand : Synergetic Microfoundation of Macroeconomic Dynami
Number of Pages: VIII, 131 Pages
Language: English
Publication Name: Visible Hand : Synergetic Microfoundation of Macroeconomic Dynamics
Publisher: Springer Berlin / Heidelberg
Subject: Decision-Making & Problem Solving, Economics / Macroeconomics, Development / Economic Development, Econometrics, Applied
Publication Year: 1991
Item Weight: 8.1 Oz
Type: Textbook
Author: Reiner Koblo
Subject Area: Mathematics, Business & Economics
Item Length: 9.3 in
Item Width: 6.1 in
Series: Lecture Notes in Economics and Mathematical Systems Ser.
Format: Trade Paperback
