The Economics of Inaction 在线电子书 pdf 下载 txt下载 epub 下载 mobi 下载 2024

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Nancy L. Stokey 作者

Princeton University Press

译者

2008-10-20 出版日期

320 页数

USD 49.50 价格

Hardcover

丛书系列

9780691135052 图书编码

The Economics of Inaction 在线电子书图书标签: 经济学 econ 金融 macroeconomics macro Economics

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The Economics of Inaction 在线电子书 epub 下载 mobi 下载 pdf 下载 txt 下载 2024

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The Economics of Inaction 在线电子书图书描述

In economic situations where action entails a fixed cost, inaction is the norm. Action is taken infrequently, and adjustments are large when they occur. Interest in economic models that exhibit "lumpy" behavior of this kind has exploded in recent years, spurred by growing evidence that it is typical in many important economic decisions, including price setting, investment, hiring, durable goods purchases, and portfolio management. In "The Economics of Inaction", leading economist Nancy Stokey shows how the tools of stochastic control can be applied to dynamic problems of decision making under uncertainty when fixed costs are present.Stokey provides a self-contained, rigorous, and clear treatment of two types of models, impulse and instantaneous control. She presents the relevant results about Brownian motion and other diffusion processes, develops methods for analyzing each type of problem, and discusses applications to price setting, investment, and durable goods purchases. This authoritative book will be essential reading for graduate students and researchers in macroeconomics.

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