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Efficient Economic Growth (Microeconomic Studies) [Hardcover]

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Item description for Efficient Economic Growth (Microeconomic Studies) by Stefan Homburg...

The book is about the well-known problem that a perfectly competitive economy, even if endowed with perfect foresight, can grow in an efficient manner. The causes of this strange inefficiency are analyzed, and sufficientconditions for efficient economic growth are discussed. The most important contribution is the elaboration of a rather well-known, yet unproved, hypothesis which says that the existence of a nonproducible productive asset, like land, prevents dynamic inefficiency. This is shown to hold outside steady state growth paths. Applications of the theoretical concepts and results are straightforward and are discussed in detail. The applications include the efficient use of exhaustible resources over time, the possibility of "bubbles" in financial markets, the theory of interest rates, and questions concerning optimal social security.

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Item Specifications...

Pages   106
Est. Packaging Dimensions:   Length: 9.5" Width: 6.5" Height: 0.5"
Weight:   0.7 lbs.
Binding  Hardcover
Release Date   Feb 18, 1992
Publisher   Springer
ISBN  3540549951  
ISBN13  9783540549956  

Availability  57 units.
Availability accurate as of May 25, 2017 01:38.
Usually ships within one to two business days from La Vergne, TN.
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Product Categories

1Books > Subjects > Business & Investing > Biographies & Primers > Policy & Current Events
2Books > Subjects > Business & Investing > Economics > Development & Growth
3Books > Subjects > Business & Investing > Economics > Economic Policy & Development
4Books > Subjects > Business & Investing > Economics > General
5Books > Subjects > Business & Investing > Economics > Natural Resources

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