Prices, Competition and Equilibrium

This collection of original essays by noted economists was written in honor of William Baumol. The contributors offer new insights into important topics in economics.Contents: MICROECONOMICS: Utility Generated Community Demand, J. Dow and H. Sonnenscheim; Perfect Equilibrium in the Duel,A. Dixit; A General Theory of Monopolistic Competition,J. Stiglitz; MACROECONOMICS: The New Econometrics,A. Blinder; Policy Evaluation and Rational Expectations Models,W. Buiter; Expected Fiscal Policy and the Recession,W. Branson, A. Fraga, R. Johnson; INDUSTRIAL ORGANIZATION: Constraint of the Acquisition Price of Capital Equipment,D. Krupka and L. White; Supervision Technology, Firm Structure and Employees' Welfare,J. Ordover; A Model of Embodied Technical Change,R. Gordon, M. Schankerman, R. Spady; FINANCIAL ECONOMICS: Dividend Payments,J. Cragg; Baumol and Finance,B. Malkiel; Investing in Plant and R&D,J. Bernstein and I. Nadiri; URBAN ECONOMICS: Incentives for Environment Protection,W. Oates; Employment Growth,E. Mills; Models and Policy,E. Bailey