Nonlinear Dynamics in Equilibrium Models

Chaos, Cycles and Indeterminacy

Editors: Stachurski, John, Venditti, Alain, Yano, Makoto (Eds.)

  • A unique collection of Kazuo Nishimura's most important papers
  • Includes a detailed treatment of nonlinear dynamics in many key growth models
  • Provides researchers with extensive background on endogenous cycles and indeterminacy
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eBook $139.00
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  • ISBN 978-3-642-22397-6
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Hardcover $179.00
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valid through November 5, 2017
  • ISBN 978-3-642-22396-9
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $179.00
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valid through November 5, 2017
  • ISBN 978-3-642-44622-1
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

Optimal growth theory studies the problem of efficient resource allocation over time, a fundamental concern of economic research. Since the 1970s, the techniques of nonlinear dynamical systems have become a vital tool in optimal growth theory, illuminating dynamics and demonstrating the possibility of endogenous economic fluctuations. Kazuo Nishimura's seminal contributions on business cycles, chaotic equilibria and indeterminacy have been central to this development, transforming our understanding of economic growth, cycles, and the relationship between them. The subjects of Kazuo's analysis remain of fundamental importance to modern economic theory. This book collects his major contributions in a single volume. Kazuo Nishimura has been recognized for his contributions to economic theory on many occasions, being elected fellow of the Econometric Society and serving as an editor of several major journals.

About the authors

Makoto Yano is the director of the Institute for Economic Research at Kyoto University.  He has served as president of the Japanese Economic Association, and on the editorial board of many leading journals.  He has co-authored several of Kazuo Nishimura's seminal contributions to economic theory.

 

Alain Venditti is a director of research at the CNRS (Centre National de Recherche Scientifique), GREQAM (Groupement de Recherche en Economie Quantitative d'Aix-Marseille), and an associate professor at EDHEC Business School.  He has collaborated extensively with Kazuo Nishimura, and has published in many leading economics journals.  In 2007 he was awarded the IJET Lionel McKenzie Prize for contributions to economic theory.

 

John Stachurski is a professor at the Research School of Economics, Australian National University.  He has collaborated extensively with Kazuo Nishimura, and has published in many leading economics journals.  In 2005 he was awarded the IJET Lionel McKenzie Prize for contributions to economic theory.

Reviews

Kazuo Nishimura has made an enormous contribution to nonlinear economic dynamics with his pioneering papers and a sequence of subsequent studies on the subject.  This beautifully edited book should help readers to follow optimal paths to many fundamental results in that field.

Takashi Negishi, The Japan Academy

  

Since the late 70s, Kazuo Nishimura has been a leader in the use of non-linear dynamics in economic theory. Several of the papers reproduced in this volume are essential reading for graduate students and researchers working in optimal growth theory.

Jose A. Scheinkman, Theodore Wells '29 Professor of Economics at Princeton University

 

Kazuo Nishimura is a recognized standard-bearer of Economic Theory, a giant of his Japanese generation. This well-chosen collection of articles is indicative of his admirable range, and contains his explorations of some of the deeper themes in dynamic economics:

complexity, discounting and indeterminacy. The editors should be congratulated on their efforts to make these durable pieces easily accessible for future researchers. This is a real tribute to a dedicated scholar. 

Mukul Majumdar, H.T. and R.I. Warshow Professor of Economics, Cornell University.

 

Kazuo Nishimura is clearly one of the very few great economic theorists who have profoundly influenced our understanding of the dynamics of our economies. Making available this collection of his contributions to the field is an important service to our economic profession. This book should be very useful, in particular for younger researchers, who should greatly benefit from his vision. It should help them to contribute further to our understanding of this essential field”.

Jean-Michel Grandmont, ICEF, Department of economics University Ca' Foscari di Venezia at San Giobbe and CREST-GRECSTA, MALAKOFF

Table of contents (18 chapters)

  • Introduction

    Stachurski, John (et al.)

    Pages 1-12

  • Non-linear Dynamics in the Infinite Time Horizon Model

    Nishimura, Kazuo (et al.)

    Pages 13-47

  • The Hopf Bifurcation and Existence and Stability of Closed Orbits in Multisector Models of Optimal Economic Growth

    Benhabib, Jess (et al.)

    Pages 51-73

  • Competitive Equilibrium Cycles

    Benhabib, Jess (et al.)

    Pages 75-96

  • Interlinkage in the Endogenous Real Business Cycles of International Economies

    Nishimura, Kazuo (et al.)

    Pages 97-124

Buy this book

eBook $139.00
price for USA (gross)
valid through November 5, 2017
  • ISBN 978-3-642-22397-6
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $179.00
price for USA
valid through November 5, 2017
  • ISBN 978-3-642-22396-9
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $179.00
price for USA
valid through November 5, 2017
  • ISBN 978-3-642-44622-1
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Nonlinear Dynamics in Equilibrium Models
Book Subtitle
Chaos, Cycles and Indeterminacy
Editors
  • John Stachurski
  • Alain Venditti
  • Makoto Yano
Copyright
2012
Publisher
Springer-Verlag Berlin Heidelberg
Copyright Holder
Springer-Verlag Berlin Heidelberg
eBook ISBN
978-3-642-22397-6
DOI
10.1007/978-3-642-22397-6
Hardcover ISBN
978-3-642-22396-9
Softcover ISBN
978-3-642-44622-1
Edition Number
1
Number of Pages
XI, 454
Number of Illustrations and Tables
43 b/w illustrations
Topics