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9780521297035

Capital Theory and Dynamics

by
  • ISBN13:

    9780521297035

  • ISBN10:

    0521297036

  • Format: Paperback
  • Copyright: 1980-11-28
  • Publisher: Cambridge University Press

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Summary

Capital theory and dynamics are cornerstones for almost every branch of economics. Except in a fictional world where the economies of yesterday, today, and tomorrow are identical, issues of capital formation and dynamic behaviour must always arise. Although the specialist literature is technically demanding, Professor Burmeister shows that its important results can be understood and their economic significance grasped by those who do not possess the "mathematical literacy" required to follow rigorous proofs. Even if future events are known with certainty, they still influence the current economic state. This is the pure role of time. That future events are not known with certainty adds another complexity. This book focuses mainly on the pure role of time.

Table of Contents

Introduction and overview
The pure role of time
Introduction to dynamic economics
Cambridge controversies in capital theory
Properties of dynamic paths
Descriptive and optimal models with heterogeneous commodities
Introduction to stochastic models and rational expectations
Table of Contents provided by Publisher. All Rights Reserved.

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