Out of Equilibrium by Mario Amendola (English) Hardcover Book

Description: Out of Equilibrium by Mario Amendola, Jean-Luc Gaffard Standard equilibrium economic models focus on interdependencies. This title develops a theory dealing with interdependencies, but based on disequilibria, which take the form of feedback mechanisms over time. The model proposed in this title is a heuristic tool that makes it possible to explore these "disequilibria". FORMAT Hardcover LANGUAGE English CONDITION Brand New Publisher Description Standard equilibrium economic models focus on interdependencies. In Out of Equilibrium, Amendola and Gaffard develop a theory also dealing with interdependencies, but based on disequilibria, which take the form of feedback mechanisms over time. The way in which these disequilibria interact sequentially determines the evolution path of an economy. As a result, different processes may be associated with any kind of original shock. Whereas in equilibriummodels these processes are determined by the fundamentals of the economy, here the outcome is heavily influenced by the processes themselves, the sequential decisions taken, and policies followed.The model proposed in this book is a heuristic tool that makes it possible to explore these `disequilibria. By using it, economic phenomena and policy recommendations appear entirely different, and in most cases the interpretations made are diametrically opposite to those advocated by the dominant equilibrium theory, thus giving a new perspective on the recent past of the Western economies. Author Biography Mario Amendola is Professor of Economics at the University of Rome La Sapienza and Chairman of the Scientific Committee of the Momigliano Institute for the Culture and History of the Firm (ICSIM). He is a former Director of the Department of Economic Sciences of the University of Rome La Sapienza.Jean Luc Gaffard is Professor of Economics at the University of Nice, Sophia Antipolis. He is a Member of the Conseil Superieur de lEmploi, des Revenues et des CoÛts and Director of the Institut de Droit et dEconomie de la Firme et de lIndustrie (IDEFI), the research unit of the CNRS and the University of Nice, Sophia Antipolis. Long Description Standard equilibrium economic models focus on interdependencies. In Out of Equilibrium, Amendola and Gaffard develop a theory also dealing with interdependencies, but based on disequilibria, which take the form of feedback mechanisms over time. The way in which these disequilibria interact sequentially determines the evolution path of an economy. As a result, different processes may be associated with any kind of original shock. Whereas in equilibrium modelsthese processes are determined by the fundamentals of the economy, here the outcome is heavily influenced by the processes themselves, the sequential decisions taken, and policies followed. The model proposed in this book is a heuristic tool that makes it possible to explore these disequilibria. By using it, economic phenomena and policy recommendations appear entirely different, and in most cases the interpretations made are diametrically opposite to those advocated by the dominant equilibrium theory, thus giving a new perspective on the recent past of the Western economies. Feature Builds on the work of John Hicks, Nobel Laureate and author of Methods of Dynamic Economics Details ISBN0198293801 Author Jean-Luc Gaffard Short Title OUT OF EQUILIBRIUM Language English ISBN-10 0198293801 ISBN-13 9780198293804 Media Book Format Hardcover Residence IT Imprint Clarendon Press Place of Publication Oxford Country of Publication United Kingdom Illustrations figures Birth 1948 Position Professor of Economics Affiliation Professor of Economics, University of Nice, Sophia Antipolis DOI 10.1604/9780198293804 UK Release Date 1998-07-02 AU Release Date 1998-07-02 NZ Release Date 1998-07-02 Pages 290 Publisher Oxford University Press Year 1998 Publication Date 1998-07-02 DEWEY 330.1 Audience Professional & Vocational We've got this At The Nile, if you're looking for it, we've got it. With fast shipping, low prices, friendly service and well over a million items - you're bound to find what you want, at a price you'll love! TheNile_Item_ID:53299560;

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