Böcker av Truman F. Bewley

A deep question in economics is why wages and salaries don't fall during recessions. This is not true of other prices, which adjust relatively quickly to reflect changes in demand and supply. Bewley's findings contradict most theories of wage rigidity and provide fascinating insights into the problems that prevent labor markets from clearing.

The Solutions Manual contains answers to problems in General Equilibrium, Overlapping Generations Models, and Optimal Growth Theory. Truman F. Bewley's book-a cornerstone of microeconomics, general equilibrium theory, and mathematical economics courses-covers the main premises behind insurance, capital theory, growth theory, and social security.

This book presents general equilibrium theory for advanced undergraduate and graduate-level economics students. It discusses economic efficiency, competitive equilibrium, the welfare theorems, the Kuhn-Tucker approach to general equilibrium, the Arrow-Debreu model, and rational expectations equilibrium and the permanent income hypothesis.