Title
Exploring General Equilibrium (Mit Press),New
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An Incisive, Unconventional Assessment Of General Equilibrium Theory; With A Previously Unpublished Paper.Fischer Black Is Known For His Brilliance As Well As His Sometimes Controversial Opinions. Highly Respected For His Scholarly Writings In Finance, He Now Moves Into Different Territory With This Incisive, Unconventional Assessment Of General Equilibrium Theory And What That Theory Reveals About Business Cycles, Growth, And Labor Economics. The General Equilibrium Approach, Black Asserts, Can Be Used To Explain Most Of The Economy'S Behavior. It Can Explain Business Cycles And Growth Without Using Sticky Prices, Irrationality, Economies Of Scale, Or Imperfect Competition. It Can Explain The Volatility Of Consumption, Output, Sales, Investment, And Inventories With Axiomatic Utility And Constantreturnstoscale Production. It Can Explain Temporary Layoffs, Job Changes With And Without Intervening Unemployment, And The Behavior Of Vacancies. It Can Explain Lower Wages In Parttime Jobs, Wages That Increase Rapidly With Time On The Job, And The Forces That Cause Migration From Poor To Rich Countries. Although The General Equilibrium Approach Can'T Be Tested In Conventional Ways, It Can Be Used To Generate Examples That Explain Stylized Factsgeneralized Observations From The Real Worldthat Have Preoccupied Macroeconomists For The Last Decade. Black Contrasts His Interpretation Of These Facts With Conventional Interpretations. Finally, He Reviews A Substantial Body Of Literature On These Topics.
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This warranty strictly does not cover damages that arose from negligence, misuse, wear and tear, or not in accordance with product instructions (dropping the product, etc.).
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Frequently Asked Questions
- Q: What is the main focus of 'Exploring General Equilibrium' by Fischer Black? A: The book provides an unconventional assessment of general equilibrium theory and its implications for understanding business cycles, growth, and labor economics.
- Q: Who is the author of 'Exploring General Equilibrium'? A: The author is Fischer S. Black, a respected figure known for his contributions to finance and economic theory.
- Q: What can general equilibrium theory explain according to Fischer Black? A: Black argues that general equilibrium theory can explain economic behaviors such as business cycles, consumption volatility, job changes, and wage dynamics without relying on traditional assumptions like sticky prices or imperfect competition.
- Q: How many pages does 'Exploring General Equilibrium' have? A: The book contains 360 pages.
- Q: When was 'Exploring General Equilibrium' published? A: The book was published on May 21, 2010.
- Q: What is the binding type of this book? A: The book is available in paperback binding.
- Q: Is 'Exploring General Equilibrium' suitable for beginners in economics? A: The book offers an advanced analysis of general equilibrium theory, which may be more suitable for readers with a foundational understanding of economics.
- Q: Does 'Exploring General Equilibrium' include any previously unpublished papers? A: Yes, the book includes a previously unpublished paper by Fischer Black.
- Q: What are some key topics covered in 'Exploring General Equilibrium'? A: Key topics include business cycles, growth, labor economics, and the critique of conventional economic interpretations.
- Q: What is the condition of the book? A: The book is in new condition.