Titlebook: Dynamic Macroeconomics with Imperfect Competition; Leo Kaas Book 1999 Springer-Verlag Berlin Heidelberg 1999 Dynamische Makroökonomie.Glei

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Preference Representation Languagesgation issues and consider representative agent economies with three types of goods: labor, a consumption good, and fiat money. In contrast to some models which incorporate money by including end-of-period balances as an argument in the utility function, this chapter follows the temporary monetary e

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Lecture Notes in Economics and Mathematical Systemshttp://image.papertrans.cn/e/image/283636.jpg

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Introduction, interaction are described explicitly. Only models with a microeconomic foundation are immune to criticism concerning “ad hoc”— assumptions of macroeconomic relationships, and only these models allow an assessment of welfare effects of policy measures.

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Preferences in Database Queriesnderstand a perfectly competitive equilibrium as stationary solution of tâtonnement processes. In a similar spirit, in this chapter specific dynamic systems with strategic interactions and a fictitious time structure will be specified in order to provide (pseudo-)dynamic foundations of different equilibrium concepts with imperfect competition.

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Preference Representation Languagesquilibrium approach, as introduced by Hicks (1946) and Patinkin (1956) and developed in full rigor by Grandmont (1983). In this framework, a store of value motive of money is derived from an explicit modeling of intertemporal decision making and of future price expectations.