On Time: Lectures on Models of Equilibrium (Churchill Lectures in Economics)
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On Time : Lectures on Models of Equilibrium
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Diamond , Paperback. Be the first to write a review About this product. About this product Product Information These two lectures explore how time is modeled in theoretical analyses of individual industries and of the entire economy. The atemporal Marshallian model is contrasted with an explicit time model with uncertainty about costs at the firm level. The book also examines data on job creation and job destruction; price setting behavior in monopolistic competition and costly search models; data on price changes; and both cyclical and seasonal data on the entire economy.
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