Title
Exploring General Equilibrium (Mit Press),New
Delivery time: 8-12 business days (International)
An Incisive, Unconventional Assessment Of General Equilibrium Theory; With A Previously Unpublished Paper.Fischer Black Is Known For His Brilliance As Well As His Sometimes Controversial Opinions.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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