Economic Dynamics and General Equilibrium

1. Front Matter

   Pages i-xiv

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2. Consumers and Economies — A Review

   • Anders Borglin

   Pages 1-23

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3. Economies over Time

   • Anders Borglin

   Pages 25-72

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4. Assets and Income Transfers

   • Anders Borglin

   Pages 73-124

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5. Economies with Uncertainty

   • Anders Borglin

   Pages 125-175

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6. Existence and Determinacy

   • Anders Borglin

   Pages 177-205

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7. Optimality and Incomplete Markets

   • Anders Borglin

   Pages 207-220

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8. Overlapping Generations Economies

   • Anders Borglin

   Pages 221-239

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9. Optimal Allocations in OG Economies

   • Anders Borglin

   Pages 241-272

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10. Stationary OG Economies

    • Anders Borglin

    Pages 273-308

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11. Global Dynamics: Turnpike Equilibria

    • Anders Borglin

    Pages 309-332

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12. Global Dynamics: Cyclical Equilibria

    • Anders Borglin

    Pages 333-364

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13. Back Matter

    Pages 365-396

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This book grew out of the teaching and lecture notes for a course in "Dynamic Economics" given at Copenhagen University where it has been part of a combined study program in economics and mathematics since 1986. The subjects in the course have varied over time but a common theme has been the study of economies over time and under uncertainty in the form of incomplete markets and the overlapping generations model. When I took up a position at Lund University in 1996 Mich Tvede took over responsibility for the course and together we developed a large part of the material, which formed the basis for the present book. He has generously allowed me to use all of our common material. There is a considerable overlap between general equilibrium theory with incomplete markets (GEI), finance and macroeconomic theory, which sterns from the considerations of time and uncertainty, as can be seen from the splendid textbooks by LeRoy and Werner [2001], Pliska [1997] and the seminal work on GEI by Magill and Quinzee [1996], in partic­ ular its "Historical Remarks" which off er a brilliant history of modern economic theory. The exposition here airns at making some of the results of GEI and on overlapping generations (OG) economies readily available to areader acquainted with economic theory at an upper undergraduate level.

• Fluctuations and Sunspots
• Overlapping Generations
• dynamical systems
• dynamics
• economic dynamics
• economics
• equilibrium
• general equilibrium
• general equilibrium theory
• incomplete markets
• microeconomics
• quantitative finance

• Department of Economics, Lund University, Lund, Sweden

  Anders Borglin

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