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Dynamic Economic Theory

Author

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  • Morishima,Michio

Abstract

This book brings together in a single coherent framework a research programme begun by the author in the forties. The main model around which the analysis is built is Hicksian in character, having been drawn in large part from John Hicks's Value and Capital. The model is extended so as to include money and securities. In respect of the theory of the firm the model focuses on demand and supply plans, on inputs and outputs, on inventories, and on dependencies between them. The stability of temporary equilibrium is discussed for linear and non-linear cases. Because the concept of structural stability is important for understanding non-linear cases, it is defined and applied to the case of economic motion generated from the temporary equilibrium analysis. The addenda focus on developments in economic theory following the publication of the main model.

Suggested Citation

  • Morishima,Michio, 1996. "Dynamic Economic Theory," Cambridge Books, Cambridge University Press, number 9780521563246.
    • Handle: RePEc:cup:cbooks:9780521563246
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    Citations

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    Cited by:

    1. Xiaokai Yang, 2006. "The Division Of Labor, Investment And Capital," World Scientific Book Chapters, in: Christis Tombazos & Xiaokai Yang (ed.), Inframarginal Contributions To Development Economics, chapter 16, pages 409-436, World Scientific Publishing Co. Pte. Ltd..
    2. Ricottilli, Massimo, 2015. "Innovation through local interaction, imitation and investment waves," Structural Change and Economic Dynamics, Elsevier, vol. 33(C), pages 58-70.
    3. Johnson, Joseph, 2006. "Paradoxes of Perfect Foresight in General Equilibrium Theory," MPRA Paper 85, University Library of Munich, Germany.
    4. Takashi Negishi, 2005. "Michio Morishima and history: an obituary," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 12(3), pages 553-557.
    5. Simon Glöser-Chahoud & Johannes Hartwig & I. David Wheat & Martin Faulstich, 2016. "The cobweb theorem and delays in adjusting supply in metals' markets," System Dynamics Review, System Dynamics Society, vol. 32(3-4), pages 279-308, July.
    6. Ahmad K. Naimzada & Serena Sordi, 2018. "On controlling chaos in a discrete†time Walrasian tâtonnement process," Metroeconomica, Wiley Blackwell, vol. 69(1), pages 178-194, February.
    7. Woertman, W.H., 2008. "Learning in consumer choice," Other publications TiSEM c467376b-ae4e-49ad-a336-7, Tilburg University, School of Economics and Management.
    8. Giacomo Costa, 2014. "Augusto Graziani on the walrasian capital formation model," STUDI ECONOMICI, FrancoAngeli Editore, vol. 2014(112), pages 31-52.
    9. Di Matteo, Massimo, 2013. "Economic dynamics as a succession of equilibria: The path traveled by Morishima," Structural Change and Economic Dynamics, Elsevier, vol. 24(C), pages 123-129.
    10. Kumar, Amit & Peeta, Srinivas, 2015. "A day-to-day dynamical model for the evolution of path flows under disequilibrium of traffic networks with fixed demand," Transportation Research Part B: Methodological, Elsevier, vol. 80(C), pages 235-256.
    11. PARYS, Wilfried, 2013. "All but one: How pioneers of linear economics overlooked Perron-Frobenius mathematics," Working Papers 2013030, University of Antwerp, Faculty of Business and Economics.
    12. Christian A. Conrad, 2022. "The Effects of Demand and Interest Rates on Investments, Evidence of Overinvestment from Two Behavioral Experiments," Applied Economics and Finance, Redfame publishing, vol. 9(1), pages 19-28, December.
    13. Ahmad K. Naimzada & Serena Sordi, 2016. "On controlling chaos in a discrete tâtonnement process," Department of Economics University of Siena 729, Department of Economics, University of Siena.

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