Temporary Equilibrium and Long-Run Equilibrium

Routledge Revivals

Willem H. Buiter

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English

Routledge
06 July 2015

Macroeconomics; Economic forecasting

Series: Routledge Revivals

This title, first published in 1979, presents the Ph.D. thesis of the world-renowned economist and financial expert, Willem Buiter.

In Part I, three alternative specifications of temporary equilibria in asset markets, including their implications for macroeconomic models, are discussed; Part II examines the long-term implications of some short-term macroeconomic models. The analysis of the theoretical foundations of ‘direct crowding out’ and ‘indirect crowding out’ is particularly prominent, with the result that a synthesis of short-term macroeconomic analysis and long-term growth theory is formulated.

The traditional tools of comparative dynamics and stability analysis are employed frequently. However, it is also argued that the true scope of government policy can only be adequately evaluated with the aid of concepts such as dynamic and static controllability. Temporary Equilibrium and Long-Run Equilibrium is a valuable study, and relevant for all serious students of modern economic theory.

By: Willem H. Buiter
Imprint: Routledge
Country of Publication: United Kingdom
Dimensions: Height: 234mm, Width: 156mm,
Weight: 453g
ISBN: 9781138016705
ISBN 10: 1138016705
Series: Routledge Revivals
Pages: 328
Publication Date: 06 July 2015
Audience: College/higher education , Primary , A / AS level
Format: Paperback
Publisher's Status: Active

Willem H. Buiter