DYNAMIC GAMES IN MACROECONOMICS

Ngo Long

Chapter 7 in A Survey of Dynamic Games in Economics, 2010, pp 211-241 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThis chapter surveys applications of the theory of dynamic games to macroeconomic policies, growth, and distribution. An earlier survey of this literature was provided by Pohjola (1986). Our main emphasis will be on the more recent literature. In Section 7.1 we focus on macroeconomic policies under rational expectations and international macroeconomic policies. Section 7.2 turns to the questions of wealth distribution, the struggles that determine the endogeneous evolution of property rights regime, and their effects on growth rates. Section 7.3 deals with the conflicts between capitalists and workers, and their effects on economic growth.

Keywords: Dynamic Games; Differential Games; Game Theory; Feedback Control (search for similar items in EconPapers)
Date: 2010
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