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Journal articles on the topic 'Dynamic economics'

Author: Grafiati

Published: 10 March 2023

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1

Stantcheva, Stefanie. "Dynamic Taxation." Annual Review of Economics 12, no. 1 (August 2, 2020): 801–31. http://dx.doi.org/10.1146/annurev-economics-100119-013035.

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This article reviews recent advances in the study of dynamic taxation, considering three main approaches: the dynamic Mirrlees, the parametric Ramsey, and the sufficient statistics approaches. In the first approach, agents’ heterogeneous abilities to earn income are private information and evolve stochastically over time. Dynamic taxes are not restricted ex ante and are set for redistribution and insurance considerations. Capital is taxed only in order to improve incentives to work. Human capital is optimally subsidized if it reduces posttax inequality and risk on balance. The Ramsey approach specifies ex ante restricted tax instruments and adopts quantitative methods, which allow it to consider more complex and realistic economies. Capital taxes are optimal when age-dependent labor income taxes are not possible. The newer and tractable sufficient statistics approach derives robust tax formulas that depend on estimable elasticities and features of the income distributions. It simplifies the transitional dynamics thanks to a newly defined criterion, the utility-based steady-state approach, which prevents the government from exploiting sluggish responses in the short run. Capital taxes are here based on the standard equity-efficiency trade-off.

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2

Sent, Esther-Mirjam. "Enginering Dynamic Economics." History of Political Economy 29, suppl_1 (January 1, 1997): 41–62. http://dx.doi.org/10.1215/00182702-1997-suppl_1009.

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3

Rosen, Sherwin. "Dynamic Animal Economics." American Journal of Agricultural Economics 69, no. 3 (August 1987): 547–57. http://dx.doi.org/10.2307/1241690.

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4

Baranzini, Mauro L. "Methods of dynamic economics." Journal of Economic Behavior & Organization 10, no. 2 (September 1988): 248–51. http://dx.doi.org/10.1016/0167-2681(88)90049-2.

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5

Kapoor, Madhavi, and Vijita Aggarwal. "Tracing the economics behind dynamic capabilities theory." International Journal of Innovation Science 12, no. 2 (May 4, 2020): 187–201. http://dx.doi.org/10.1108/ijis-05-2019-0050.

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Purpose The purpose of this paper is to trace the evolution of dynamic capabilities theory in the primal theories of economics and strategic management. Then a comprehensive research framework is proposed to grapple with the dynamics of the contemporary global markets, incorporating the quintessential elements of the theory, i.e. absorptive capability, innovation capability and adoptive capability. Design/methodology/approach The paper is conceptual in nature. It tries to review various economic systems of the world since 1770s till the present era. It also evaluates various theories of international business against dynamic capabilities theory and thus proposes various propositions for future empirical testing. Findings The study has delineated various theories tracing in them the roots of dynamic capabilities. Capitalism, communism and socialism is explained to reach the present state of world economy. Various theories such as the theory of creative destruction, transaction-cost approach, resource-based view and knowledge-based view of the firm have been elaborated to identify their features and shortcomings. Finally, the contemporary theory of dynamic capabilities has been elucidated to integrate the shortcomings of the previous theories. A research framework has also been proposed to overcome the recent criticism of the dynamic capabilities theory of having under-specified constructs. Originality/value Very few studies have elaborated various economic systems and theories to trace the evolution of dynamic capabilities theory. Thus, this study is original in nature and the proposed research model is also novel which induces further empirical evidence as proposed by the authors.

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6

Wilen, James E. "Economics of Spatial‐Dynamic Processes." American Journal of Agricultural Economics 89, no. 5 (December 2007): 1134–44. http://dx.doi.org/10.1111/j.1467-8276.2007.01074.x.

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7

Stern, Nicholas. "Towards a dynamic public economics." Journal of Public Economics 86, no. 3 (December 2002): 335–39. http://dx.doi.org/10.1016/s0047-2727(01)00192-x.

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8

Brock, William A., Anastasios Xepapadeas, and Athanasios N. Yannacopoulos. "Optimal agglomerations in dynamic economics." Journal of Mathematical Economics 53 (August 2014): 1–15. http://dx.doi.org/10.1016/j.jmateco.2014.04.005.

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9

Wirl, Franz. "Dynamic policy games in economics." European Journal of Political Economy 6, no. 1 (August 1990): 143–46. http://dx.doi.org/10.1016/0176-2680(90)90042-h.

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Byrne, Patrick. "ECOLOGY, ECONOMY AND REDEMPTION AS DYNAMIC: THE CONTRIBUTIONS OF JANE JACOBS AND BERNARD LONERGAN." Worldviews: Global Religions, Culture, and Ecology 7, no. 1-2 (2003): 5–26. http://dx.doi.org/10.1163/156853503321916192.

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AbstractBernard Lonergan, S.J. and Jane Jacobs have devoted much of their intellectual careers to thinking out the dynamic natural-human environment. Lonergan and Jacobs worked in very different lines of research - systematic theology and urban economics, respectively. Despite predictable differences in their thought, there are also remarkable commonalities in their analyses. Both thinkers have argued that the same dynamic principles that govern the functioning of natural ecologies are also to be found when human social and economic systems function well, but are absent when human systems go wrong. Both have argued that the violation of principles that pertain to natural ecologies is destructive not only of the natural environment, but of communal and economic well-being as well. Jacobs came to prominence with the 1961 publication of her classic, The Death and Life of Great American Cities. She has since gone on to extend her analysis to the unique characteristics of urban economics in several books and articles. In her most recent book The Nature of Economies (2000), Jacobs draws the results of her previous work on urban economic patterns into a synthesis with recent insights into biological systems. She argues that exactly the same principles (or "processes" as she prefers to call them) that sustain vital, evolving natural ecologies also underpin robust and dynamic economies. Where Jacobs's work gives a richly detailed account of the processes shared alike by natural and human systems, Lonergan developed a parallel, integral account of natural processes, human social and economic organization, and the "economy of salvation." In his classic work, Insight, Lonergan argues that the dynamics of human innovations and self-correction correspond in striking ways to the emergence, growth, development, and decline in the natural order. Unlike natural ecologies, however, the possibilities of genuine social and economic development are distorted, Lonergan argues, by the forces of "bias." In his role of theologian, Lonergan goes on to explore how divine grace heals the distorted dynamics of natural and human ecologies.

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Rust, John. "Has Dynamic Programming Improved Decision Making?" Annual Review of Economics 11, no. 1 (August 2, 2019): 833–58. http://dx.doi.org/10.1146/annurev-economics-080218-025721.

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Dynamic programming (DP) is a powerful tool for solving a wide class of sequential decision-making problems under uncertainty. In principle, it enables us to compute optimal decision rules that specify the best possible decision in any situation. This article reviews developments in DP and contrasts its revolutionary impact on economics, operations research, engineering, and artificial intelligence with the comparative paucity of its real-world applications to improve the decision making of individuals and firms. The fuzziness of many real-world decision problems and the difficulty in mathematically modeling them are key obstacles to a wider application of DP in real-world settings. Nevertheless, I discuss several success stories, and I conclude that DP offers substantial promise for improving decision making if we let go of the empirically untenable assumption of unbounded rationality and confront the challenging decision problems faced every day by individuals and firms.

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Golosov, Mikhail, and Aleh Tsyvinski. "Policy Implications of Dynamic Public Finance." Annual Review of Economics 7, no. 1 (August 2015): 147–71. http://dx.doi.org/10.1146/annurev-economics-080614-115538.

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Becker, Otwin, and Ulrike Leopold-Wildburger. "Optimal dynamic control of predator–prey models." Central European Journal of Operations Research 28, no. 2 (November 2, 2019): 425–40. http://dx.doi.org/10.1007/s10100-019-00656-7.

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Abstract This paper combines work to use a decision support tool for sustainable economic development, while acknowledging interdependent dynamics of population density, and interferences from outside. We get new insights derived from experimental approaches: analytical models (optimal dynamic control of predator–prey models) provide optimal dynamic strategies and interventions, depending on different objective functions. Our economic experiments are able to test the applicability of these strategies, and in how far decision-makers can learn to improve decision-making by repeated applications. We aim to analyse a sustainable environment with diametrical goals to harvest as much as possible while allowing optimal population growth. We find interesting insights from those who manage the dynamic system. With the methodology of experimental economics, the experiment at hand is developed to analyse the capability of individual persons to handle a complex system, and to find an economic, stable equilibrium in a neutral setting. We have developed a most interesting simulation model, where it will turn out that prices play a less important role than availability of the goods. This aspect could become a new important aspect in economics in general and in sustainable environments especially.

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Berry, Steven T., and Giovanni Compiani. "Empirical Models of Industry Dynamics with Endogenous Market Structure." Annual Review of Economics 13, no. 1 (August 5, 2021): 309–34. http://dx.doi.org/10.1146/annurev-economics-081720-120019.

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This article reviews recent developments in the study of firm and industry dynamics, with a special emphasis on the econometric endogeneity of market structure. The endogeneity of market structure follows from the presence of serially correlated unobservable shocks to the profitability of firms’ dynamic decisions, a feature common to many empirical settings. Methods that ignore endogeneity can lead to misleading parameter estimates and misleading counterfactual results. We pay particular attention to extensions of standard two-step methods that leverage instrumental variables to address endogeneity in both single-agent and oligopoly models. A first step set-identifies dynamic policy functions together with serial correlation parameters, and a second step quickly solves for profit function parameters using an extension of existing forward-simulation methods. We discuss how these new methods provide a general solution to initial-conditions problems and how they can yield practical estimation strategies.

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Lybbert, Travis J., Francisco B. Galarza, John McPeak, Christopher B. Barrett, Stephen R. Boucher, Michael R. Carter, Sommarat Chantarat, Aziz Fadlaoui, and Andrew Mude. "Dynamic Field Experiments in Development Economics: Risk Valuation in Morocco, Kenya, and Peru." Agricultural and Resource Economics Review 39, no. 2 (April 2010): 176–92. http://dx.doi.org/10.1017/s1068280500007231.

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The effective design and implementation of interventions that reduce vulnerability and poverty require a solid understanding of underlying poverty dynamics and associated behavioral responses. Stochastic and dynamic benefit streams can make it difficult for the poor to learn the value of such interventions to them. We explore how dynamic field experiments can help (i) intended beneficiaries to learn and understand these complicated benefit streams, and (ii) researchers to better understand how the poor respond to risk when faced with nonlinear welfare dynamics. We discuss and analyze dynamic risk valuation experiments in Morocco, Peru, and Kenya.

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Kozhukhіvska, Raisa, Nataliya Parubok, Nataliya Petrenko, Svitlana Podzihun, and Irina Udovenko. "Methods of assessment of efficiency of creating regional innovative clusters for dynamic development of economics." Investment Management and Financial Innovations 14, no. 3 (November 20, 2017): 302–12. http://dx.doi.org/10.21511/imfi.14(3-2).2017.01.

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The deployment of a systemic economic crisis in Ukraine was conditioned by the aggravation of the socio-economic situation in certain regions and the build-up of structural deformations in the economy and the preservation of an inefficient model of production organization. This situation requires the search for a new model of economic growth, which is based on the use of competitive advantages of regions and a combination of industrial, scientific and managerial potential of the domestic economy. Clustering is a form of internal integration that can provide both sustainability and a synergistic effect of counteracting global competition for today. The research of the foundations of the formation of a modern cluster theory is a significant theoretical and practical interest for the further development of a successful model of cluster policy in Ukraine. In addition, the important place in this judgment is the fact that this theory is in the stage of active formation and development. The purpose of the article is to study, analyze and develop the methods of assessment of efficiency of creating regional innovative clusters for dynamic development of economics. The article considers the methods of quantitative evaluation of clusters performance based on the analysis of effects of reducing transaction expenses, capital value, marketing expenses, innovation diffusion and employment of infrastructure in common. It was established that the application of innovative cluster approach is one of the most efficient tools in the fulfillment of tasks of enterprise modernization and ensuring the development of innovative sectors of economy. Cluster effects for regional economies are relative and, in general, can be used for estimating total cluster effect. The suggested variants of assessment of potential cluster effects will provide opportunities of carrying out a more complete cluster estimation and selection of the most efficient projects for increasing the efficiency of regional innovation clusters and dynamic development of economics.

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Nelson, Richard R., and Sidney G. Winter. "Evolutionary Theorizing in Economics." Journal of Economic Perspectives 16, no. 2 (May 1, 2002): 23–46. http://dx.doi.org/10.1257/0895330027247.

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This paper reviews the case for an evolutionary approach to problems of economic analysis, ranging from the details of individual firm behavior in the short run through industrial dynamics to the historical evolution of institutions and technologies. We draw upon a substantial body of recent research contributions. We characterize micro behavior as governed by skills and routines that are shaped by learning and selection. We then consider major areas of application of evolutionary thinking, including the analysis of competitive processes in technologically dynamic industries and the evolution of institutions and technologies.

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18

Pomini, Mario. "ECONOMIC DYNAMICS AND THE CALCULUS OF VARIATIONS IN THE INTERWAR PERIOD." Journal of the History of Economic Thought 40, no. 1 (February 15, 2018): 57–79. http://dx.doi.org/10.1017/s1053837217000116.

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Analogies with rational mechanics played a pivotal role in the search for formal models in economics. In the period between the two world wars, a small group of mathematical economists tried to extend this view from statics to dynamics. The main result was the extensive application of calculus of variations to obtain a dynamic representation of economic variables. This approach began with the contributions put forward by Griffith C. Evans, a mathematician who, in the first phase of his scientific career, published widely in economics. Evans’s research was further developed by his student Charles Roos. At the international level, this dynamic approach found its main followers in Italy, within the Paretian tradition. During the 1930s, Luigi Amoroso, the leading exponent of the Paretian School, made major contributions, along with his student Giulio La Volpe, that anticipated the concept of temporary equilibrium. The analysis of the application of the calculus of variations to economic dynamics in the interwar period raises a set of questions on the application of mathematics designed to study mechanics and physics to economics.

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19

He, Ji-Huan, Chun-Hui He, and Hamid M. Sedighi. "Evans model for dynamic economics revised." AIMS Mathematics 6, no. 9 (2021): 9194–206. http://dx.doi.org/10.3934/math.2021534.

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20

Safiullin, N. Z., and B. L. Safiullin. "Static and dynamic models in economics." Journal of Physics: Conference Series 1015 (May 2018): 032117. http://dx.doi.org/10.1088/1742-6596/1015/3/032117.

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21

Dolfsma, Wilfred. "Towards a dynamic (Schumpeterian) welfare economics." Research Policy 34, no. 1 (February 2005): 69–82. http://dx.doi.org/10.1016/j.respol.2004.11.002.

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22

McCauley, Joseph L. "Making dynamic modeling effective in economics." Physica A: Statistical Mechanics and its Applications 355, no. 1 (September 2005): 1–9. http://dx.doi.org/10.1016/j.physa.2005.02.064.

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23

Tarasova, Valentina V., and Vasily E. Tarasov. "Concept of dynamic memory in economics." Communications in Nonlinear Science and Numerical Simulation 55 (February 2018): 127–45. http://dx.doi.org/10.1016/j.cnsns.2017.06.032.

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24

Potts, Jason, and Stuart Thomas. "Toward a new (evolutionary) economics of sports." Sport, Business and Management: An International Journal 8, no. 1 (March 12, 2018): 82–96. http://dx.doi.org/10.1108/sbm-04-2017-0023.

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Purpose The purpose of this paper is to propose a new classification of rules-driven sports and technology-driven sports that suggests different models of how sports develop. This paper outlines some key aspects of an evolutionary view of sports economics research and, separately, an institutional view of sports economic research. Design/methodology/approach This paper is a conceptual/theoretical piece rather than an empirical analysis of a research question. The authors scaffold a proposed analytic framework that is a combination of evolutionary economics and new institutional economics. Findings A new dynamic approach to the study of sports industries is called for. The authors observe that sports and sports industries exhibit dynamic qualities but in the study of sports there is no analogue of “industrial dynamics” as in economics. What is missing is the field of “evolutionary sports dynamics.” To build this, the authors frame a new evolutionary approach to the study of the sports economy and sports industries – by examining the evolution of sports, their industries, and the complex industrial ecosystems they operate in, through the lens of institutional and evolutionary economics. Originality/value The paper establishes a theoretical basis for a “New Economics of Sports” – as a shift in the types of questions that sports economics seeks to answer. These are away from “sports statics” – as a branch of applied economics of industrial organization and optimal allocation of sports resources (ala Rottenberg, 1956; Neale, 1964) – and toward concern with the economics of “sports dynamics.” The prime questions are less with the optimal organization of existing sports, and more toward understanding the origin of new sports and the evolutionary life cycles of sports.

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Gates, Carolyn L. "Vietnam's Economic Transformation and Convergence with the Dynamic ASEAN Economies." Comparative Economic Studies 42, no. 4 (December 2000): 7–43. http://dx.doi.org/10.1057/ces.2000.22.

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Caballero, Ricardo J., and Eduardo M. R. A. Engel. "Dynamic (S, s) Economies." Econometrica 59, no. 6 (November 1991): 1659. http://dx.doi.org/10.2307/2938284.

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Perona, Eugenia. "Birth and Early History of Nonlinear Dynamics in Economics." Revista de Economía y Estadística 43, no. 2 (December 1, 2005): 29–60. http://dx.doi.org/10.55444/2451.7321.2005.v43.n2.3817.

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Since the 1980s, nonlinear dynamic modelling is becoming a popular methodology in economics. However, it is not as new as many researchers seem to believe. Before the linear approach dominated economic theory around the 1950s, many economists were actively involved in the development of nonlinear models, this tendency being particularly strong during the period 1930-1950. The main objective of this essay is to offer a systematic and comprehensive survey of the early developments in nonlinear dynamics in economics, ranging form Frisch’s original impulse and propagation model in 1933, to Goodwin’s formalisation of the limit cycle in 1951.

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Arellano, Manuel, and Stéphane Bonhomme. "Nonlinear Panel Data Methods for Dynamic Heterogeneous Agent Models." Annual Review of Economics 9, no. 1 (August 2, 2017): 471–96. http://dx.doi.org/10.1146/annurev-economics-063016-104346.

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Arcidiacono, Peter, and Paul B. Ellickson. "Practical Methods for Estimation of Dynamic Discrete Choice Models." Annual Review of Economics 3, no. 1 (September 2011): 363–94. http://dx.doi.org/10.1146/annurev-economics-111809-125038.

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30

McDonald, Nicola J., and Garry W. McDonald. "Towards a Dynamic Equilibrium-Seeking Model of a Closed Economy." Systems 8, no. 4 (November 4, 2020): 42. http://dx.doi.org/10.3390/systems8040042.

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Economics has long been concerned with the development of tools to help understand and describe the interactions among economic actors including the circular flow of economic resources. This paper expands our available toolkit of models, by describing a novel dynamic equilibrium-seeking model of a closed economy. The model retains many of the key features of state-of-the-art Computable General Equilibrium (CGE) models including economic interdependence, input substitution, nested production functions, and so on. A distinguishing feature of this model is that it adopts price-related balancing feedback loops that simulate the self-regulating behaviour of a dynamic economic system. Our modelling shows not only equilibrium states (as per conventional CGE models), but the transition path toward an often-changing equilibrium. This facilitates the investigation of out-of-equilibrium dynamics and behaviour adaptation typical of largescale disruption events.

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Onour, Ibrahim. "Dynamics of Crude Oil Price Change and Global Food Commodity Prices." Finance & Economics Review 3, no. 1 (April 28, 2021): 38–50. http://dx.doi.org/10.38157/finance-economics-review.v3i1.248.

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Purpose: This study investigates the effect of crude oil price fluctuations (price change as well as volatility) on wheat, sugar, corn, and fertilizers price changes. Methods: The study employs Markov switching dynamic regression, Dynamic Conditional Correlation (DCC), and Generalized Autoregressive Conditional Hetrosekadicity (GARCH) on monthly data covering the period from January 1988 to April 2018. Results: The findings of the research support evidence of two states. State 1, pertains to the low volatility of crude oil price, and state 2 belong to the case of the high volatility of crude oil prices. Our results indicated that at state 1, an increase in crude oil prices leads to a decline in food commodity prices, while in state 2, an increase in crude oil price levels causes an increase in food commodity prices. Results of Dynamic Conditional Correlation (DCC) GARCH estimates indicate the coefficients of oil price levels are significant and positively associated with the conditional volatility of the four commodity prices. Implications: The findings of the research imply that volatility in global food commodity prices is not due to oil price volatility but due to the oil price levels attained at extreme points. Originality: The paper investigates the impact of different volatility levels of crude oil prices on global food commodity prices.

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Amir, R., and A. Hadim. "Some structured dynamic programs arising in economics." Computers & Mathematics with Applications 24, no. 8-9 (October 1992): 209–18. http://dx.doi.org/10.1016/0898-1221(92)90199-r.

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33

Martin, John. "Supporting Dynamic Economic Adjustment." National Institute Economic Review 250 (November 2019): R15—R21. http://dx.doi.org/10.1177/002795011925000112.

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Executive SummaryEconomic policymaking in the UK has historically focussed more on the demand side than on the supply side of the economy. Yet it is on the supply side – the way in which an economy adapts to change while growing productive capacity on a sustainable basis – that medium- to long-term economic performance largely depends. There is an urgent need now to rebalance policy by focussing, in particular, on measures to enhance labour-force productivity, including radically enhanced support for training and skills development.This does not involve wholesale structural reform of the economic framework. The UK benefits from having one of the most flexible economies in the OECD, with competitive product markets, relatively low labour costs and historically high employment levels, accompanied by a so-far-successful adoption of an escalating minimum wage. We suggest that in the post-Brexit era politicians would do well to avoid changes in the regulatory regime that would create undue misalignments with EU standards. Nevertheless, the concomitants of the UK's form of flexibility are a dismal performance on productivity and stagnating living standards. Productivity is now actually falling quarter on quarter ten years after the last economic downturn – a position unprecedented in the past 250 years. This problem must be addressed if the UK is to progress towards fulfilling its economic potential.Central to this are both so-called Active Labour Market Policies (ALMPs) to provide people who have become unemployed with new skills that help them remain in the workforce, and investments in effective upskilling of mid-career and older workers. ALMPs can help raise average per capita income over time, yet UK spending on this area is well under half the OECD average and a fraction of the sums spent in the more successful Nordic economies, Germany, Austria, Switzerland, and Australia. The UK's many attempts to develop new training and apprenticeship schemes in recent decades have been dogged by poor quality and a lack of support from employers and labour unions. This needs to change: we propose a concerted effort to raise UK spending on ALMPs to the OECD average, especially for 16–24 year-olds. Improving labour-force mobility – for example by radically improving availability of affordable housing – is also critical. Structural reforms of this kind will require sustained political effort and support.

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Kamihigashi, Takashi, and John Stachurski. "Seeking ergodicity in dynamic economies." Journal of Economic Theory 163 (May 2016): 900–924. http://dx.doi.org/10.1016/j.jet.2016.03.006.

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Vincent, Daniel R. "Dynamic Auctions." Review of Economic Studies 57, no. 1 (January 1990): 49. http://dx.doi.org/10.2307/2297542.

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Anderson, Axel, and Lones Smith. "Dynamic Deception." American Economic Review 103, no. 7 (December 1, 2013): 2811–47. http://dx.doi.org/10.1257/aer.103.7.2811.

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We characterize the unique equilibrium of a competitive continuous time game between a resource-constrained informed player and a sequence of rivals who partially observe his action intensity. Our game adds noisy monitoring and impatient players to Aumann and Maschler (1966), and also subsumes insider trading models. The intensity bound induces a novel strategic bias and serial mean reversion by uninformed players. We compute the duration of the informed player's informational edge. The uninformed player's value of information is concave if the intensity bound is large enough. Costly obfuscation by the informed player optimally rises in the public deception. (JEL D82, D83, G14)

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37

Sayer, Stuart. "Dynamic Macroeconomics." Journal of Economic Surveys 11, no. 3 (September 1997): 321–34. http://dx.doi.org/10.1111/1467-6419.00036.

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38

Honryo, Takakazu. "Dynamic persuasion." Journal of Economic Theory 178 (November 2018): 36–58. http://dx.doi.org/10.1016/j.jet.2018.08.007.

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Moroz, Yevhen, Mykola Galaburda, Alevtyna Kudinova, and Pavlo Galeta. "DYNAMICS AND METHODOLOGICAL ASPECTS OF ECONOMIC TRANSFORMATION." Financial and credit activity problems of theory and practice 1, no. 48 (February 28, 2023): 229–37. http://dx.doi.org/10.55643/fcaptp.1.48.2023.3954.

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Emphasis is placed on the dynamics and methodological aspects of economic transformation. It is noted that consideration of the dynamic theory in economics continued in science for several centuries, and this issue remains relevant. The concept of "transformation" together with its content and essence has been studied. The study was conducted using a comparative method in order to define categories of "statics" and "dynamics". The difference between these terms was established by constructing a comparative table. The content and nature of dynamic theory as an integral component of the transformation process is considered. The relationship and interdependence between dynamic theory and economic transformation are defined. The results of the study proved the influence of time series on the relevance of the study of the causes of economic growth. It is emphasized that the analysis of macroeconomic indicators has significant importance, taking into account the influence of time series in terms of economic transformation. A conclusion is drawn regarding the presence of interdependence between the type of economic dynamics and the type of structural shifts which occur during the process of post-socialist transformation. In Ukraine, these structural shifts took the form of bifurcation points, which meant a turning point and a new round of development. The nature of bifurcation points in terms of post-socialist transformation is considered in detail. Thanks to the dynamic theory, bifurcation points that have developed in terms of the post-socialist transformation in Ukraine have been determined. Conclusions are made regarding the current situation of the socio-economic system of Ukraine in the context of post-socialist transformation.

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Bianchi, Patrizio, and Sandrine Labory. "Dynamic gravitation and structural dynamics: From Smith to Modern theory." Structural Change and Economic Dynamics 60 (March 2022): 90–98. http://dx.doi.org/10.1016/j.strueco.2021.11.009.

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41

Manfredi, Piero, and Luciano Fanti. "Cycles in dynamic economic modelling." Economic Modelling 21, no. 3 (May 2004): 573–94. http://dx.doi.org/10.1016/j.econmod.2003.08.003.

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Miftakhova, Alena, Karl Schmedders, and Malte Schumacher. "Computing Economic Equilibria Using Projection Methods." Annual Review of Economics 12, no. 1 (August 2, 2020): 317–53. http://dx.doi.org/10.1146/annurev-economics-080218-025711.

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The analysis of dynamic economic models routinely leads to the mathematical problem of determining an unknown function for which no closed-form solution exists. Economists must then resort to methods of numerical approximation when analyzing such models. Among the computational methods that have been successfully applied in economics and finance, one set of techniques stands out due to its flexibility and robustness: projection methods. In this article, we describe the basic steps of these methods for several different applications, surveying many successful applications of projection methods to dynamic economic models. Importantly, we emphasize that the ever-increasing complexity and dimensionality of dynamic models have made the previously used simpler methods obsolete and the applications of projection methods all but mandatory. We closely examine the most recent endeavors in the literature on solving economic models with projection methods.

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ZHANG, WEIBIN. "Economic Growth with Tourism and Environmental Change." International Journal of Economics Development Research (IJEDR) 1, no. 2 (May 5, 2020): 110–35. http://dx.doi.org/10.37385/ijedr.v1i2.53.

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The main purpose of this study is to examine dynamic interactions between economic growth, environmental change, and tourism. Although tourism is playing an increasingly important role in different economies, there are only a few theoretical models to dynamic economic and environmental issues with endogenous tourism. On the basis of the Solow-Uzawa growth model, the neoclassical growth model with environmental change, and ideas from tourism economics, we develop a three-sector growth model. The industrial and service sectors are perfectly competitive. The environment sector is financially supported by the government. We introduce taxes not only on producers, but also on consumers’ incomes from wage, land, and interest of wealth, consumption of goods and services, and housing. We simulate the motion of the national economy and examine effects of changes in some parameters. The comparative dynamic analysis with regard to the rate of interest, the price elasticity of tourism, the global economic condition, the total productivity of the service sectors, and the propensity to save provides some important insights into the complexity of open economies with endogenous wealth and environment.

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Scalas, Enrico, and Ubaldo Garibaldi. "A Dynamic Probabilistic Version of the Aoki–Yoshikawa Sectoral Productivity Model." Economics: The Open-Access, Open-Assessment E-Journal 3, no. 2009-15 (2009): 1. http://dx.doi.org/10.5018/economics-ejournal.ja.2009-15.

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Huang, Ling, and Martin D. Smith. "The Dynamic Efficiency Costs of Common-Pool Resource Exploitation." American Economic Review 104, no. 12 (December 1, 2014): 4071–103. http://dx.doi.org/10.1257/aer.104.12.4071.

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We conduct the first empirical investigation of common-pool resource users' dynamic and strategic behavior at the micro level using real-world data. Fishermen's strategies in a fully dynamic game account for latent resource dynamics and other players' actions, revealing the profit structure of the fishery. We compare the fishermen's actual and socially optimal exploitation paths under a time-specific vessel allocation policy and find a sizable dynamic externality. Individual fishermen respond to other users by exerting effort above the optimal level early in the season. Congestion is costly instantaneously but is beneficial in the long run because it partially offsets dynamic inefficiencies. (JEL D24, Q21, Q22)

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KAYIKÇI, Fazıl, and Mustafa KESGİN. "Contributions of Institutional Economics to Economic Thought." Yildiz Social Science Review 8, no. 1 (July 21, 2022): 52–64. http://dx.doi.org/10.51803/yssr.1146878.

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It is seen that interest in the effects of human behavior on economic events and phenomena has been increasing in recent years. In this context, institutions where behaviors become a set of formal-informal rules that determine the boundaries of choice for the stakeholders of the society from thought to action and form the framework of individual action by gaining stability, are of great importance in terms of developing an economic thinking system compatible with the real world. With its dynamic perspective on economic events and phenomena, the institutional economic tradition has revealed important discoveries by evaluating the effects of institutions on the economic order from different perspectives and closed a major gap in this area. With this study, the historical adventure of institutional economics, which started with the pioneering studies that Thorstein B. Veblen put forward based on the Darwinian evolution approach, has been discussed from the perspective of old and new institutional economics. By presenting the contributions of the prominent representatives of the tradition to economic thought through labor included in the analysis, it is aimed to open a door from the perspective of institutionalized behavior to studies on the economic impact of human behavior. In addition, the evaluations for the sustainability of the institutional tradition were discussed, and the advantages and disadvantages of the tradition in question were emphasized within the framework of today's prevailing economic approach.

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Bakshi, Gurdip, and Zhiwu Chen. "Stock valuation in dynamic economies." Journal of Financial Markets 8, no. 2 (May 2005): 111–51. http://dx.doi.org/10.1016/j.finmar.2005.01.001.

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SCHENK-HOPPÉ, KLAUS REINER. "RANDOM DYNAMICAL SYSTEMS IN ECONOMICS." Stochastics and Dynamics 01, no. 01 (March 2001): 63–83. http://dx.doi.org/10.1142/s0219493701000059.

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This paper surveys recent advances in the application of random dynamical systems theory in economics. It illustrates the usefulness of this framework for modeling and analysis of economic phenomena with stochastic components, mainly focusing on stochastic dynamic models of economic growth. The paper also highlights some directions for further applications and interdisciplinary research on random dynamical systems.

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Aliprantis, C. D., and G. Camera. "A CORRESPONDENCE-THEORETIC APPROACH TO DYNAMIC OPTIMIZATION." Macroeconomic Dynamics 13, S1 (May 2009): 97–117. http://dx.doi.org/10.1017/s1365100509080134.

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This paper introduces a method of optimization in infinite-horizon economies based on the theory of correspondences. The proposed approach allow us to study time-separable and non-time-separable dynamic economic models without resorting to fixed point theorems or transversality conditions. When our technique is applied to the standard time-separable model it provides an alternative and straightforward way to derive the common recursive formulation of these models by means of Bellman equations.

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Vinayagathasan, Thanabalasingam. "Inflation and economic growth: A dynamic panel threshold analysis for Asian economies." Journal of Asian Economics 26 (June 2013): 31–41. http://dx.doi.org/10.1016/j.asieco.2013.04.001.

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