Karl Farmer Books

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.

First monograph (advanced text book) using the overlapping generations approach to the economics of renewable natural resources Clarifies the notion of intergenerational efficiency and applies it to intertemporal equilibria of market economies Enables the reader to derive explicit solutions for intertemporal general equilibria with renewable resources Introduces harvest costs in general equilibrium models