Dynamic Economic Theory [Paperback]

This book devolops multi-sector general equilibrium theory in the tradition of Hicks's Value and Capital.This book brings together in a single coherent framework a research programme begun by the author over 40 years ago. It aims to develop multi-sector general equilibrium theory in the tradition of Hicks's Value and Capital, and extends the proto-type model so as to accommodate the analysis of the monetary sector as well as production and consumption. The stability of temporary equilibrium is examined for both linear and non-linear cases along with the economic path that the theory generates.This book brings together in a single coherent framework a research programme begun by the author over 40 years ago. It aims to develop multi-sector general equilibrium theory in the tradition of Hicks's Value and Capital, and extends the proto-type model so as to accommodate the analysis of the monetary sector as well as production and consumption. The stability of temporary equilibrium is examined for both linear and non-linear cases along with the economic path that the theory generates.This book brings together in a single coherent framework a research program begun by the author over forty years ago. It aims to develop multisector general equilibrium theory in the tradition of Hicks's Value and Capital, and extends the prototype model to accommodate the analysis of the monetary sector as well as production and consumption. The stability of temporary equilibrium is examined for both linear and nonlinear cases along with the economic path that the theory generates.1. The method of economic analysis; 2. Households' and firms' economic behaviour; 3. Stability conditions for temporary equilibrium: the linear case; 4. Stability conditions for temporary equilibrium: the non-linear case; 5. Comparative dynamics; Appendices; Mathematical notes.'Dynamic Economic Theory is largely a retrospective commentary on the development of this strand of economics over the last half-century. Itlc<