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Dimensions of Economic Theory and Policy

Edited by Krishnendu Ghosh Dastidar, Hiranya Mukhopadhyay and Uday Bhanu Sinha

Published in print October 2011 | ISBN: 9780198073970
Published online September 2012 | e-ISBN: 9780199081615 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780198073970.001.0001
Dimensions of Economic Theory and Policy

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Anjan Mukherji, arguably one of India's most distinguished economists, is known for his research on the stability of the Walrasian tatonnement, its relation to the weak axiom of revealed preference, the effect of choice of the numeraire and its relation to the Edgeworth-Uzawa barter process. Two of his recent papers, ‘Global Stability Conditions on the Plane: A General Law of Demand’ (2007) and ‘The Stability of a Competitive Economy: A Reconsideration’ (2008), have yielded especially interesting results. This book explores various aspects of economic theory and quantitative techniques as well as their applications and relevance to policymaking. Chapters deal with a wide range of topics such as Markovian equilibria in a dynamic general equilibrium model with heterogeneous consumers, monotone Markov models, multiple equilibria in a dynamic two-country model, observability of chaotic economic dynamics in the Matsuyama model, a simple exposition of learning by doing in endogenous growth theory, economic growth and the quality of teachers in a public education system, wealth effects, investment-led growth cycles, distraction and incentives, liquidity preference and information, coordination in teams, decomposition of accident loss and efficiency of negligence rule, international cartels and spheres of influence, price competition in a mixed duopoly, recommended play versus costly punishments in a laboratory public goods game, and India's monetary policy accommodation during the global crisis. It also examines private investment in human capital and industrial development, focusing on the Indian software industry, and arranged marriage, co-residence and female schooling in India.

Keywords: Anjan Mukherji; economic theory; India; software industry; economic growth; public goods; monetary policy; private investment; incentives; negligence rule

Book.  480 pages.  Illustrated.

Subjects: Microeconomics

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Table of Contents

Introduction<sup>*</sup> in Dimensions of Economic Theory and Policy

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On Some Monotone Markov Models in Dimensions of Economic Theory and Policy

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On Optimal Forest Management in Dimensions of Economic Theory and Policy

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Multiple Equilibria in a Dynamic Two Country Model in Dimensions of Economic Theory and Policy

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Wealth Effects<sup>*</sup> in Dimensions of Economic Theory and Policy

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Investment-led Growth Cycles in Dimensions of Economic Theory and Policy

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