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Full Description
This volume gathers together key new contributions on the subject of the relationship, both empirical and theoretical, between economic oscillations, growth and structural change. Employing a sophisticated level of mathematical modelling, the collection contains articles from, amongst others, William Baumol, Katsuhito Iwai and William Brock.
Contents
Preface L.F. Punzo Part I. Facts and Interpretations of Growth and Fluctuations 1. Economic cycles since 1870 Solomos Solomou 2. Growth and fluctuations: the post-war Japanese experience Hiroshi Yoshikawa 3. Productivity-investment fluctuations and structural change Bernhard Böhm and Lionello F. Punzo Part II. The Macroeconomy and its Dynamics 4. Qualitative dynamics and macroeconomic evolution in the very long run Richard H. Day and Oleg V. Parlov 5. Out-of-equilibrium dynamics Mario Amendola and Jean Luc Gaffard 6. Disequilibrium growth in monetary economies: basic components and the KMG working model Peter Flaschel 7. Schumpeterian dynamics: a disequilibrium theory of long run profits Katsuihito Iwai Part III. Dynamics by Interaction 8. Equilibrium distribution of agents by types in a market, and existence of power laws Masano Aoki 9. The instability of markets Tad Hogg, Bernardo Huberman and Michael Youssefmir 10. Financial fragility and fluctuating growth Domenico Delli Gatti and Mauro Gallegati 11. Toward the microeconomics of innovation: growth engine of market economies William J. Baumol Part IV. Challenges for Quantitative Methodologies 12. Business cycle research: methods and problems Edward C. Prescott 13. Complexity-based methods in cycles and growth: any potential value-added? William A. Brock 14. Information, complexity and the MDL principle Jorma Rissanen 15. The 'exogenous' in 'endogenous' growth theory Frank Hahn
