Fundamental Methods of Mathematical Economics -4/E

As in the previous edition, the purpose of this text is to introduce mathematical techniques to economics students. Through a complete integration of mathematics and economics along with a very patient exposition, the author attempts to maintain the emphasis on economics. Economic topics of equilibrium analysis, comparative-static analysis, economic dynamics and optimization are covered using mathematical techniques such as matrix algebra, differential equations, convex sets and mathematical programming in their solution

Inflation Expectations, Wealth Perception, and Consumption Expenditure

The literature on wealth perception has been focused on the tax discounting of government bonds and, to a lesser extent, the Pesek-Saving effect. The authors consider here, in addition, the effects of expected inflation on wealth perception. In the resulting broadened framework, they find empirically that there is overwhelming expected-inflation discounting of money, but little or no tax discounting of bonds. This has far-reaching policy implications that are contrary to conventional wisdom. Based on an examination of equilibrium consumption, bond-financed budget deficits are, surprisingly, found to be more stimulative than money-financed deficits. More importantly, open-market operations not only turn out to be the least potent, but can in fact produce perverse effects.

The Perception of Government Bonds and Money as Net Wealth: An Integrated Approach

Although much work examines whether government bonds constitute net wealth, little attention focuses on whether government money does. Most analysts merely assert that government money is net wealth. In an inflationary environment, however, money experiences "expected-inflation discounting" just as bonds experience "tax discounting." Indeed, Chiang and Miller (1988) find empirical evidence suggesting that the private sector discounts money more heavily than bonds. This paper provides the theoretical underpinnings for the two types of discounting in an integrated approach, where both new money and new bonds can finance the interest on outstanding bonds.Government Bonds; Money

Variational problems for Hölderian functions with free terminal point

We develop the new variational calculus introduced in 2011 by J. Cresson and I. Greff, where the classical derivative is substituted by a new complex operator called the scale derivative. In this paper we consider several nondifferentiable variational problems with free terminal point: with and without constraints, of first and higher-order type

Dasar-dasar matematika ekonomi, Jil. 2 Ed. 4/ Chiang

xiii, 218 hal. : ill.; 27 cm

Dasar-dasar matematika ekonomi, Jil. 2 Ed. 4/ Chiang

xiii, 218 hal. : ill.; 27 cm

DASAR-DASAR MATEMATIKA EKONOMI - 2

408 hlm