Karl Farmer – författare

This book represents both a textbook and a monograph. Part I entitled 'Basics' mainly contains textbook material and this is also partly true for Part II. Here the precise de nition and characterization of the not so well-known notion of interg- erational ef ciency within Diamond's two-period overlapping generations model gures prominently. In Part III, a renewable natural resource is introduced in the log-linear Cobb-Douglas overlapping generations model, and the ef ciency c- cepts developed in Part II are applied. The balance among material for a textbook und for a monograph is approximately even. In Part IV research monograph ch- acteristics gain progressively prominence. While this part dealing with intergene- tional equity in perfectly competitive market economies presents already published work, the last part focusing on harvest cost contains still unpublished work. Asthesubtitle ofthepresentbookannounces,ourintentionisto provideanint- duction to the not so widespread overlappinggenerationsapproach to intertemporal resource economics.It is introductory in that utility and production functions are functionally speci ed such that the interested reader can derive explicit solutions to intertemporal general equilibria. However, we do not primarily aim at enhancing the reader's skill of solving general equilibrium models-we rather aim at prov- ing the tools for coping with analytically much more advanced dynamic general equilibriummodelswith renewable natural resources,published in leading journals. This book emerged out of lectures of the rst author within the master programs of the University of Life Sciences in Vienna and at Karl-Franzens-University of Graz.

This textbook guides the reader towards various aspects of growth and international trade in a Diamond-type overlapping generations framework. Using the same model type throughout the book, timely topics such as growth with bubbles, debt reduction in rich countries and policies to mitigate climate change are explored . The first part starts from the “old” growth theory and bridges to the “new” growth theory (including R&D and human capital approaches). The second part presents an intertemporal equilibrium theory of inter and intra-sectoral trade and concludes by analyzing the debt mechanics inducing the huge imbalances among eurozone countries. The book is primarily addressed to graduate students wishing to proceed to the analytically more demanding journal literature.

This book represents both a textbook and a monograph. Part I entitled 'Basics' mainly contains textbook material and this is also partly true for Part II. Here the precise de nition and characterization of the not so well-known notion of interg- erational ef ciency within Diamond's two-period overlapping generations model gures prominently. In Part III, a renewable natural resource is introduced in the log-linear Cobb-Douglas overlapping generations model, and the ef ciency c- cepts developed in Part II are applied. The balance among material for a textbook und for a monograph is approximately even. In Part IV research monograph ch- acteristics gain progressively prominence. While this part dealing with intergene- tional equity in perfectly competitive market economies presents already published work, the last part focusing on harvest cost contains still unpublished work. Asthesubtitle ofthepresentbookannounces,ourintentionisto provideanint- duction to the not so widespread overlappinggenerationsapproach to intertemporal resource economics.It is introductory in that utility and production functions are functionally speci ed such that the interested reader can derive explicit solutions to intertemporal general equilibria. However, we do not primarily aim at enhancing the reader's skill of solving general equilibrium models-we rather aim at prov- ing the tools for coping with analytically much more advanced dynamic general equilibriummodelswith renewable natural resources,published in leading journals. This book emerged out of lectures of the rst author within the master programs of the University of Life Sciences in Vienna and at Karl-Franzens-University of Graz.

Revised and updated for the 2nd edition, this textbook guides the reader towards various aspects of growth and international trade in a Diamond-type overlapping generations framework. Using the same model type throughout the book, timely topics such as growth with bubbles, robots and involuntary unemployment, financial integration and house price dynamics, policies to mitigate climate change and the persistence of religion in a globalized market economy are explored.The first part starts from the “old” growth theory and bridges to the “new” growth theory (including R&D and human capital approaches). The second part presents an intertemporal equilibrium theory of inter- and intra-sectoral trade, investigates innovation, growth and trade and limits to public debt as well as nationally and internationally optimal climate policies. The debt dynamics of the Euro Zone and the origins of intra-EMU and Asian-US trade imbalances are also explored.The book is primarily addressed to upper undergraduate and graduate students wishing to proceed to the analytically more demanding journal literature.

Revised and updated for the 2nd edition, this textbook guides the reader towards various aspects of growth and international trade in a Diamond-type overlapping generations framework. Using the same model type throughout the book, timely topics such as growth with bubbles, robots and involuntary unemployment, financial integration and house price dynamics, policies to mitigate climate change and the persistence of religion in a globalized market economy are explored.The first part starts from the “old” growth theory and bridges to the “new” growth theory (including R&D and human capital approaches). The second part presents an intertemporal equilibrium theory of inter- and intra-sectoral trade, investigates innovation, growth and trade and limits to public debt as well as nationally and internationally optimal climate policies. The debt dynamics of the Euro Zone and the origins of intra-EMU and Asian-US trade imbalances are also explored.The book is primarily addressed to upper undergraduate and graduate students wishing to proceed to the analytically more demanding journal literature.

Revised and updated for the 2nd edition, this textbook guides the reader towards various aspects of growth and international trade in a Diamond-type overlapping generations framework. Using the same model type throughout the book, timely topics such as growth with bubbles, robots and involuntary unemployment, financial integration and house price dynamics, policies to mitigate climate change and the persistence of religion in a globalized market economy are explored.The first part starts from the “old” growth theory and bridges to the “new” growth theory (including R&D and human capital approaches). The second part presents an intertemporal equilibrium theory of inter- and intra-sectoral trade, investigates innovation, growth and trade and limits to public debt as well as nationally and internationally optimal climate policies. The debt dynamics of the Euro Zone and the origins of intra-EMU and Asian-US trade imbalances are also explored.The book is primarily addressed to upper undergraduate and graduate students wishing to proceed to the analytically more demanding journal literature.