Essays on the history of dynamic economic analysis

Molavi Vasséi, Arash

Essays on the history of dynamic economic analysis

dc.contributor.advisor	Hagemann, Harald	de
dc.contributor.author	Molavi Vasséi, Arash	de
dc.date.accepted	2012-06-29
dc.date.accessioned	2024-04-08T08:48:36Z
dc.date.available	2024-04-08T08:48:36Z
dc.date.created	2013-07-23
dc.date.issued	2013
dc.description.abstract	The subsequent three studies in the history of economic analysis ranges over a wide area of subjects. Part one, raises the following questions: To what extent is axiomatic general equilibrium analysis a rational reconstruction of ?Scottish Political Economy? as defined by the writings of David Hume and Adam Smith? How much is gained and how much lost by the axiomatic transformation of the invisible-hand proposition? What are the implications of negative results like the Sonnenschein-Mantel-Debreu demonstrations for the Scottish point of view? Did it reach deadlock, or is there still hope for the dominant trajectory in the history of economics? In contrast to the rich historical literature on the invisible-hand proposition, the present study does not level any paradigmatic criticism at neo-Walrasian analysis. Rather, by focalizing the most important results against the backdrop of Scottish Political Economy, it may inform theory choice within the neo-Walrasian paradigm. Part two translates F.A. Hayek?s informal capital theory into a dynamic equilibrium model. The focus is restricted to Hayek?s largely unrecognized contribution in Utility Analysis and Interest, being restated in The Pure Theory of Capital. The underlying premise is that Hayek adopts infant versions of modern analytical tools during his time at the London School of Economics such that a rational reconstruction of his capital theory by established neoclassical tools is admissible. The major result is that UAI and PTC contain a generalization of the Ramsey-Cass-Koopmans model. In concrete, Hayek provides the solution to an infinite-horizon deterministic social planner optimization problem in a one-sector economy such that the rate of pure time preference encapsulated in the discount factor increases in prospective utility. The endogeneity of myopia is due to intertemporal complementarities and accounted for by the modified Uzawa aggregator. A partial alliance with Frank Knight is established. Part three addresses Ludwig von Mises?s business cycle theory at maturity, as advanced in his opus magnum Human Action. In this work, Mises embeds the business cycle theory which he initially developed in Theorie des Geldes und der Umlaufmittel into the broad context of his methodological convictions. Whereas the initial outline of his cycle theory strongly relies on Böhm-Bawerk?s capital theory, its mature version is built upon a significantly altered framework of real analysis. The paper describes and evaluates the impact of Mises?s praxeology on his conceptualization of real analysis; it provides a simple model to depict and clarify Mises?s outline; it draws implications for his business cycle theory and its core prediction that ?any money-induced traverse by necessity reverses?; it argues that Mises?s core prediction ultimately depends on his barren analytical device; it concludes that Mises?s mature business cycle theory is a regression.	en
dc.description.abstract	Die folgenden drei theoriegeschichtlichen Studien umfassen eine allgemeine Auseinandersetzung mit der Entwicklung dynamischer Analyse in der Wirtschaftswissenschaft. Teil 1 stellt folgende Fragen: Inwieweit ist die axiomatische allgemeine Gleichgewichtsanalyse eine rationale Rekonstruktion der Schottischen Nationalökonomie, definiert durch die werke von David Hume und Adam Smith? War die axiomatische Transformation der Proposition der Unsichtbaren Hand ein Erfolg? Was folgt aus negativen Resultaten wie den Sonnenschein-Mantel-Debreu-Theoreme für die Schottische Nationalökonomie. Teil 2 übersetzt F.A. Hayek's informelle Kapitaltheorie in ein dynamisches Gleichgewichtsmodell. Der fokus beschränkt sich dabei auf seine Beiträge in "Utility Analysis and Interest" sowie "The Pure Theory of Capital". Das Hauptergebnis lautet, dass Hayek eine Verallgemeinerung des Ramsey-Cass-Koopmans -Modells formulierte. Er untersucht dabei das Optimierungproblem eines sozialen Planers über einen unendlichen Horizont bei endogenem Diskontfaktor. Die Rate der reinen Zeitpräferenzrate steigt im erwarteten Nutzen. Es werden Existenz, Eindeutigkeit und Stabilität des Hayek-Systems untersucht und theoriegeschichtlich eingebunden. Teil 3 untersucht die Weiterentwicklung der Österreichischen Konjunkturtheorie durch Ludwig von Mises in dessen Hauptwerk "Human Action". Es werden der Einfluss seiner Erkenntnistheorie auf seine kapitaltheoretischen Argumente untersucht. Im Ergebnis kommt die Arbeit zu dem Schluss, dass die Weiterentwicklung der Österreichischen Konjunkturtheorie einen Rückschritt darstellt, insbesondere relativ zu den Arbeiten von Hayek.	de
dc.identifier.swb	391386093
dc.identifier.uri	https://hohpublica.uni-hohenheim.de/handle/123456789/5721
dc.identifier.urn	urn:nbn:de:bsz:100-opus-8658
dc.language.iso	ger
dc.rights.license	publ-mit-pod	en
dc.rights.license	publ-mit-pod	de
dc.rights.uri	http://opus.uni-hohenheim.de/doku/lic_mit_pod.php
dc.subject	Invisible Hand	en
dc.subject	Smith	en
dc.subject	Hume	en
dc.subject	Scottish Political Economy	en
dc.subject	General equilibrium analysis	en
dc.subject	Hayek	en
dc.subject	Time preference	en
dc.subject	Mises	en
dc.subject	Schottische Nationalökonomie	de
dc.subject	Allgemeine Gleichgewichtsanalyse	de
dc.subject	Mises	de
dc.subject.ddc	330
dc.subject.gnd	Unsichtbare Hand	de
dc.subject.gnd	Smith	de
dc.subject.gnd	Adam	de
dc.subject.gnd	Hume	de
dc.subject.gnd	David	de
dc.subject.gnd	Mandeville	de
dc.subject.gnd	Bernard	de
dc.subject.gnd	Hayek	de
dc.subject.gnd	Friedrich A.	de
dc.subject.gnd	Zeitpräferenz	de
dc.title	Essays on the history of dynamic economic analysis	de
dc.title.dissertation	Essays über die Geschichte dynamischer Analyse in der Ökonomik	de
dc.type.dcmi	Text	de
dc.type.dini	DoctoralThesis	de
local.access	uneingeschränkter Zugriff	en
local.access	uneingeschränkter Zugriff	de
local.bibliographicCitation.publisherPlace	Universität Hohenheim	de
local.export.bibtex	@phdthesis{Molavi Vasséi2013, url = {https://hohpublica.uni-hohenheim.de/handle/123456789/5721}, author = {Molavi Vasséi, Arash}, title = {Essays on the history of dynamic economic analysis}, year = {2013}, school = {Universität Hohenheim}, }
local.export.bibtexAuthor	Molavi Vasséi, Arash
local.export.bibtexKey	Molavi Vasséi2013
local.export.bibtexType	@phdthesis
local.faculty.number	3	de
local.institute.number	520	de
local.opus.number	865
local.university	Universität Hohenheim	de
local.university.faculty	Faculty of Business, Economics and Social Sciences	en
local.university.faculty	Fakultät Wirtschafts- und Sozialwissenschaften	de
local.university.institute	Institute for Economics	en
local.university.institute	Institut für Volkswirtschaftslehre	de
thesis.degree.level	thesis.doctoral

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