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Computation of Equilibria in Heterogeneous‐Agent Models

José‐Víctor Ríos‐Rull

in Computational Methods for the Study of Dynamic Economies

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199248278
eISBN:
9780191596605
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199248273.003.0011
Subject:
Economics and Finance, Macro- and Monetary Economics

There are many questions in economics for which heterogeneous‐agent dynamic models (i.e. models populated by agents that are different from each other) have to be used to provide answers. The first ... More


Phenomenal Continuity

Barry Dainton

in The Phenomenal Self

Published in print:
2008
Published Online:
May 2008
ISBN:
9780199288847
eISBN:
9780191710742
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199288847.003.0003
Subject:
Philosophy, Philosophy of Mind

This chapter focuses on diachronic phenomenal unity. How can we make sense of the flux and flow that we find in experience, and which make the ‘stream’ metaphor so apt? It is argued that to account ... More


Computing Models of Social Security

Ayşe İmrohoroğlu, Selahattin İmrohoroğlu, and Douglas H. Joines

in Computational Methods for the Study of Dynamic Economies

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199248278
eISBN:
9780191596605
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199248273.003.0010
Subject:
Economics and Finance, Macro- and Monetary Economics

A core topic of current economic research (and policy debate) is the evaluation of social security systems and their possible reforms. Shows how models of social security can be computed in economies ... More


Noise Trader Risk in Financial Markets

Andrei Shleifer

in Inefficient Markets: An Introduction to Behavioral Finance

Published in print:
2000
Published Online:
November 2003
ISBN:
9780198292272
eISBN:
9780191596933
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198292279.003.0002
Subject:
Economics and Finance, Financial Economics

Examines how noise traders can limit arbitrage even in an environment that is very close to a textbook model. The author constructs an overlapping generation (OLG) model where noise traders generate ... More


Emerging Theory

Roger White, Guy Engelen, and Inge Uljee

in Modeling Cities and Regions As Complex Systems: From Theory to Planning Applications

Published in print:
2015
Published Online:
May 2016
ISBN:
9780262029568
eISBN:
9780262331371
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262029568.003.0010
Subject:
Political Science, Environmental Politics

Following Richard Levins, a theory of cities and regions as complex systems consists of a set of overlapping models together with their robust consequences—i.e. the quasi-regularities that emerge. ... More


Phrase Rhythm

Ken Stephenson

in What to Listen For in Rock: A Stylistic Analysis

Published in print:
2002
Published Online:
October 2013
ISBN:
9780300092394
eISBN:
9780300128239
Item type:
chapter
Publisher:
Yale University Press
DOI:
10.12987/yale/9780300092394.003.0002
Subject:
Music, Theory, Analysis, Composition

This chapter examines the phase rhythm of rock music. It aims to answers the questions concerning the length of the shortest formal unit larger than a measure and the place of vocal phrases within ... More


Multiperiod Models of Trade

Thomas Quint and Martin Shubik

in Barley, Gold, or Fiat: Toward a Pure Theory of Money

Published in print:
2014
Published Online:
May 2014
ISBN:
9780300188158
eISBN:
9780300199222
Item type:
chapter
Publisher:
Yale University Press
DOI:
10.12987/yale/9780300188158.003.0016
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter covers multiperiod versions of our models. In the first such model, with no loan market, there are T time periods, with players deriving utility from consumption of the two goods each ... More


Social Security and Demographic Uncertainty: The Risk-Sharing Properties of Alternative Policies

Henning Bohn

in Risk Aspects of Investment-Based Social Security Reform

Published in print:
2000
Published Online:
February 2013
ISBN:
9780226092553
eISBN:
9780226092560
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226092560.003.0007
Subject:
Economics and Finance, Economic Systems

Using the overlapping-generations model, this chapter examines a different type of risk: the demographic risk that a generation will be unexpectedly large or small. In a closed economy, a large ... More


Intertemporal Equilibria with Optimizing Agents

Jean-Pascal Bénassy

in Macroeconomic Theory

Published in print:
2011
Published Online:
April 2015
ISBN:
9780195387711
eISBN:
9780190261405
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780195387711.003.0004
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter analyzes different deterministic models with boundless horizons where all decisions are taken by maximizing agents. It first presents a benchmark model, Ramsay model, with exogenous ... More


Other Major Issues: Growth, Scale Effects and Inequality

Dipankar Dasgupta

in Modern Growth Theory

Published in print:
2010
Published Online:
October 2012
ISBN:
9780198069966
eISBN:
9780199080458
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198069966.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter examines two important developments in endogenous growth theory: the scale effect of human capital on economic growth and two models that were developed to assess the impact of growth on ... More


The Social Security Trust Fund, the Riskless Interest Rate, and Capital Accumulation

Andrew B. Abel

in Risk Aspects of Investment-Based Social Security Reform

Published in print:
2000
Published Online:
February 2013
ISBN:
9780226092553
eISBN:
9780226092560
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226092560.003.0006
Subject:
Economics and Finance, Economic Systems

This chapter considers the existence of a defined-benefit pension system in which a social security trust fund is accumulated as a buffer between payroll tax receipts and pension expenses of the ... More


Money

Jean-Pascal Bénassy

in Macroeconomic Theory

Published in print:
2011
Published Online:
April 2015
ISBN:
9780195387711
eISBN:
9780190261405
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780195387711.003.0011
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter explains the nature of money as a unit of account, medium of exchange, and as a store of value, and addresses the problem of introducing money using rigorous dynamic models. It begins by ... More


Overlapping Generations

Jean-Pascal Bénassy

in Macroeconomic Theory

Published in print:
2011
Published Online:
April 2015
ISBN:
9780195387711
eISBN:
9780190261405
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780195387711.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter presents a discrete time model, the overlapping generations (OLG) model. It starts by presenting the most classic OLG model, wherein each family lives over two periods and overlaps only ... More


Financing Medicare: A General Equilibrium Analysis

Orazio Attanasio, Sagiri Kitao, and Giovanni L. Violante

in Demography and the Economy

Published in print:
2011
Published Online:
February 2013
ISBN:
9780226754727
eISBN:
9780226754758
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226754758.003.0010
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter deals with the long-term financing of Medicare in the United States. The chapter provides a model that features employer-provided health insurance, Medicare for the elderly, and Social ... More


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