General Equilibrium, Overlapping Generations Models, and Optimal Growth Theory

This book presents an original exposition of general equilibrium theory for advanced undergraduate and graduate-level students of economics. It contains detailed discussions of economic efficiency, competitive equilibrium, the first and second welfare theorems, the Kuhn-Tucker approach to general equilibrium, the Arrow-Debreu model, and rational expectations equilibrium and the permanent income hypothesis. Truman Bewley also treats optimal growth and overlapping generations models as special cases of the general equilibrium model. He uses the model and the first and second welfare theorems to explain the main ideas of insurance, capital theory, growth theory, and social security. It enables him to present a unified approach to portions of macro- as well as micro-economic theory. The book contains problems sets for most chapters.

ISBN 0674022882   Pages 624 ISBN13 9780674022881 (What's this?)   Volumes 1 Publisher Harvard University Press   Weight (grammes) 1056 Imprint Harvard University Press   Published in Cambridge, Mass Format Hardback   Height (mm) 235 Publication date 02 Mar 2007   Width (mm) 162 Library of Congress 2006043512   Spine width (mm) 38 DEWEY 339.5   Academic level Professional / Scholarly DEWEY edition DC22

1		Why study general equilibrium?		1
2		The general equilibrium model		8
3		Economic efficiency		17
4		Competitive equilibrium		85
5		The welfare theorems		160
6		The Kuhn-Tucker approach to general equilibrium theory		195
7		Arrow-Debreu equilibrium		229
8		Rational expectations equilibrium and the permanent income hypothesis		282
9		Samuelson's overlapping generations model		360
10		The one-sector growth and diamond overlapping generations models		449
11		A critical assessment		590

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