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Coordination and Externalities in Macroeconomics

Fabio-Cesare Bagliano and Giuseppe Bertola

in Models for Dynamic Macroeconomics

Published in print:
2004
Published Online:
January 2005
ISBN:
9780199266821
eISBN:
9780191601606
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199266824.003.0005
Subject:
Economics and Finance, Macro- and Monetary Economics

Focusses on the macroeconomic effects of strategic interactions among optimizing agents in several contexts. Trading externalities are introduced in a non‐monetary economy and the possibility of ... More


Fertility Decline as a Coordination Problem

Hans‐Peter Kohler

in Fertility and Social Interaction: An Economic Perspective

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199244591
eISBN:
9780191596544
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199244596.003.0005
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter is devoted to the role of social networks for the selection of equilibria in situations in which fertility decline constitutes a coordination problem. We show that the effect of networks ... More


Multiple Equilibria and Bootstrapping Performance

Geoffrey Brennan and Philip Pettit

in The Economy of Esteem: An Essay on Civil and Political Society

Published in print:
2004
Published Online:
November 2004
ISBN:
9780199246489
eISBN:
9780191601460
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199246483.003.0008
Subject:
Economics and Finance, Microeconomics

Sometimes esteem (or disesteem) is assigned by reference not to quality of performance but rather to whether the actor has acted in accordance with some norm. Feedback effects can arise in this case ... More


The Problems of Game Theory

David M. Kreps

in Game Theory and Economic Modelling

Published in print:
1990
Published Online:
November 2003
ISBN:
9780198283812
eISBN:
9780191596568
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198283814.003.0005
Subject:
Economics and Finance, Microeconomics

The weaknesses of game theory for purposes of economic modelling are discussed: the theory requires that protocols for interaction are precise (whereas in the real world they are often ambiguous). ... More


From Individual Behavior to Aggregate Fertility Dynamics

Hans‐Peter Kohler

in Fertility and Social Interaction: An Economic Perspective

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199244591
eISBN:
9780191596544
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199244596.003.0004
Subject:
Economics and Finance, Development, Growth, and Environmental

Shifts the emphasis from individual behaviour in the presence of social interactions to aggregate fertility dynamics. In particular, the chapter considers the implications of using non‐linear models ... More


Social Interactions and Fluctuations in Birth Rates

Hans‐Peter Kohler

in Fertility and Social Interaction: An Economic Perspective

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199244591
eISBN:
9780191596544
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199244596.003.0006
Subject:
Economics and Finance, Development, Growth, and Environmental

Shows that the relevance of social interaction is not restricted to developing countries with relatively high levels of fertility. In particular, fluctuations in birth rates in developed countries ... More


Population

Pranab Bardhan and Christopher Udry

in Development Microeconomics

Published in print:
1999
Published Online:
November 2003
ISBN:
9780198773719
eISBN:
9780191595929
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198773714.003.0003
Subject:
Economics and Finance, Development, Growth, and Environmental

The conventional household model of family planning focuses on the trade‐offs that households face between the number of children, investment in the children, and consumption. While the model ... More


Multiple Equilibria in a Dynamic Two Country Model

Kazumichi Iwasa and Kazuo Nishimura

in Dimensions of Economic Theory and Policy: Essays for Anjan Mukherji

Published in print:
2011
Published Online:
September 2012
ISBN:
9780198073970
eISBN:
9780199081615
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198073970.003.0005
Subject:
Economics and Finance, Microeconomics

Some market distortional factors such as factor-generated externalities and imperfect competition can give rise to multiple equilibrium paths, or indeterminacy, in dynamic general equilibrium models. ... More


Intersectoral Complementarities and Coordination Failures

Pranab Bardhan and Christopher Udry

in Development Microeconomics

Published in print:
1999
Published Online:
November 2003
ISBN:
9780198773719
eISBN:
9780191595929
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198773714.003.0016
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter is about models that show how intersectoral complementarities in the economy generate multiple equilibria, highlighting the policy problem of moving away from a ‘low‐level equilibrium ... More


Explorations in Computable Economics

Kumaraswamy Velupillai

in Computable Economics: The Arne Ryde Memorial Lectures

Published in print:
2000
Published Online:
November 2003
ISBN:
9780198295273
eISBN:
9780191596988
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198295278.003.0009
Subject:
Economics and Finance, Macro- and Monetary Economics

Three topics are discussed as pointers towards issues at the frontiers of computable economics: effectivizing the fundamental theorems of welfare economics; computable production theory; the ... More


Introduction

Christopher B. Barrett, Michael R. Carter, and Jean-Paul Chavas (eds)

in The Economics of Poverty Traps

Published in print:
2018
Published Online:
May 2019
ISBN:
9780226574301
eISBN:
9780226574448
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226574448.003.0001
Subject:
Economics and Finance, Development, Growth, and Environmental

While the world has seen much economic growth and poverty reduction over the last few decades, extreme poverty persists. It is important to understand how households accumulate assets and increase ... More


The Role of Large Players in Currency Crises

Giancarlo Corsetti, Paolo Pesenti, and Nouriel Roubini (eds)

in Preventing Currency Crises in Emerging Markets

Published in print:
2002
Published Online:
February 2013
ISBN:
9780226184944
eISBN:
9780226185057
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226185057.003.0006
Subject:
Economics and Finance, International

This chapter describes the role that large players play in currency crises and market dynamics, such as hedge funds (HFs). Although multiple equilibrium models elucidate the impacts of a large trader ... More


Geometric Instability

Sanjay Govindjee

in Engineering Mechanics of Deformable Solids: A Presentation with Exercises

Published in print:
2012
Published Online:
December 2013
ISBN:
9780199651641
eISBN:
9780191775017
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199651641.003.0012
Subject:
Physics, Condensed Matter Physics / Materials

This chapter discusses mechanical failure via geometric instability or buckling. The problem is explained from the standpoint of stationary potential energy and the emergence of multiple equilibrium ... More


Liquidity and Trading Frictions

Ed Nosal and Guillaume Rocheteau

in Money, Payments, and Liquidity

Published in print:
2011
Published Online:
August 2013
ISBN:
9780262016285
eISBN:
9780262298285
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262016285.003.0012
Subject:
Economics and Finance, Econometrics

This chapter expounds on the notion of the liquidity of an asset and its ability to function as a medium of exchange. Here, trading frictions are not associated with the purchase and consumption of ... More


On Quality Traps and Economic Development

Patrick M. Emerson

in Markets, Governance, and Institutions in the Process of Economic Development

Published in print:
2017
Published Online:
December 2017
ISBN:
9780198812555
eISBN:
9780191850356
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198812555.003.0010
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter considers the interdependence among the quality levels of government institutions. Citizens of democratic societies are consumers of institutional output and the quality they demand from ... More


Recognizing knowledge and learning in equilibrium models

Lawrence A. Boland

in Equilibrium Models in Economics: Purposes and Critical Limitations

Published in print:
2017
Published Online:
May 2017
ISBN:
9780190274320
eISBN:
9780190274368
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190274320.003.0007
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter introduces Part II, discussing the limits of equilibrium models. This chapter discusses how the recognition of time and information within models results in the need to deal with ... More


Age-structured models with density-dependent recruitment

Louis W. Botsford, J. Wilson White, and Alan Hastings

in Population Dynamics for Conservation

Published in print:
2019
Published Online:
November 2019
ISBN:
9780198758365
eISBN:
9780191818301
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198758365.003.0007
Subject:
Biology, Biodiversity / Conservation Biology, Biomathematics / Statistics and Data Analysis / Complexity Studies

This chapter examines age-structured models with density-dependent recruitment. In particular, it focuses on populations with over-compensatory density dependence, such as may occur due to ... More


Vicious Circles and Multiple Equilibria: The Spiral

Andrea Lorenzo Capussela

in The Political Economy of Italy's Decline

Published in print:
2018
Published Online:
May 2018
ISBN:
9780198796992
eISBN:
9780191838620
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198796992.003.0004
Subject:
Economics and Finance, Economic Systems, Public and Welfare

This chapter summarizes the theoretical framework of this book, and draws from it the lens through which the roots of Italy’s current decline are then retraced in its history. It exemplifies the main ... More


Child Labor: A Normative Perspective

Debra Satz

in Why Some Things Should Not Be for Sale: The Moral Limits of Markets

Published in print:
2010
Published Online:
September 2010
ISBN:
9780195311594
eISBN:
9780199870714
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195311594.003.0007
Subject:
Philosophy, Political Philosophy

This chapter explores the normative issues posed by child labor. The first section briefly considers the conceptual problems of defining who is a child for the purposes of identifying child labor. ... More


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