Costas Azariadis
Biographic Data
| ID | 5734985 |
|---|---|
| NAME | Costas Azariadis |
| GIVEN NAMES | Costas |
| FAMILY NAME | Azariadis |
| SIGNATURE | AZARIADIS C |
| AFFILIATIONS | University of California, Los Angeles |
| ORCID | 0000-0002-4517-3402 |
| VERIFIED | Yes |
| TOTAL WORKS | 8 |
| TOTAL CITATIONS | 77 |
| WORKS AS AUTHOR | 8 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 1975 |
| LATEST PUBLICATION YEAR | 2005 |
| H-INDEX | 2 |
Chapter 5 Poverty Traps
Reply to Kolmar's Comment
Agency Costs in Dynamic Economic Models
We consider an overlapping generations economy where capital is produced from bank loans under stochastic constant returns to scale, and subject to idiosyncratic shocks whose realisations are costly to verify. Our formulation differs from earlier work in permitting investment projects to be infinitely divisible and private agency costs to be convex. If there are external economies to financial intermediation, then deviations from steady‐state out…
Constitutional “Rules” and Intergenerational Fiscal Policy
Threshold Externalities in Economic Development
Standard one-sector growth models often have the counterfactual implication that economies with access to similar technologies will converge to a common balanced growth path. We propose an elaboration of the Diamond model that permits multiple, locally stable stationary states. This multiplicity is due to increasing social returns to scale in the accumulation of human capital.
Sunspots and Cycles
Because sunspot equilibria seem to be of central importance for an understanding of rational expectations, we seek here to characterize completely a limited class of sunspot equilibria (stationary ones with two possible natural events) in the simplest overlapping generations model of production. We present a sufficient condition for the existence of stationary sunspot equilibria, examine how these are related to strictly periodic equilibria of th…
Prophéties créatrices et persistance des théories
Guesnerie Roger, Aziariadis Costas. Prophéties créatrices et persistance des théories. In: Revue économique, volume 33, n°5, 1982. pp. 787-806
Implicit Contracts and Underemployment Equilibria
This paper studies an industry with demand uncertainty which prompts risk-neutral firms to act both as employers and as insurers of homogeneous, risk-averse laborers. The resulting contractual arrangements turn out, in their simplest form, to be more likely to specify full employment the more of the following conditions prevail: small variability in product price, above-average economy-wide labor demand, highly risk-averse workers, small unemploy…
Implicit Contracts and Underemployment Equilibria
This paper studies an industry with demand uncertainty which prompts risk-neutral firms to act both as employers and as insurers of homogeneous, risk-averse laborers. The resulting contractual arrangements turn out, in their simplest form, to be more likely to specify full employment the more of the following conditions prevail: small variability in product price, above-average economy-wide labor demand, highly risk-averse workers, small unemploy…
Prophéties créatrices et persistance des théories
Guesnerie Roger, Aziariadis Costas. Prophéties créatrices et persistance des théories. In: Revue économique, volume 33, n°5, 1982. pp. 787-806
Constitutional “Rules” and Intergenerational Fiscal Policy
Implicit Contracts and Underemployment Equilibria
This paper studies an industry with demand uncertainty which prompts risk-neutral firms to act both as employers and as insurers of homogeneous, risk-averse laborers. The resulting contractual arrangements turn out, in their simplest form, to be more likely to specify full employment the more of the following conditions prevail: small variability in product price, above-average economy-wide labor demand, highly risk-averse workers, small unemploy…
Prophéties créatrices et persistance des théories
Guesnerie Roger, Aziariadis Costas. Prophéties créatrices et persistance des théories. In: Revue économique, volume 33, n°5, 1982. pp. 787-806
Sunspots and Cycles
Because sunspot equilibria seem to be of central importance for an understanding of rational expectations, we seek here to characterize completely a limited class of sunspot equilibria (stationary ones with two possible natural events) in the simplest overlapping generations model of production. We present a sufficient condition for the existence of stationary sunspot equilibria, examine how these are related to strictly periodic equilibria of th…
Threshold Externalities in Economic Development
Standard one-sector growth models often have the counterfactual implication that economies with access to similar technologies will converge to a common balanced growth path. We propose an elaboration of the Diamond model that permits multiple, locally stable stationary states. This multiplicity is due to increasing social returns to scale in the accumulation of human capital.
Constitutional “Rules” and Intergenerational Fiscal Policy
Agency Costs in Dynamic Economic Models
We consider an overlapping generations economy where capital is produced from bank loans under stochastic constant returns to scale, and subject to idiosyncratic shocks whose realisations are costly to verify. Our formulation differs from earlier work in permitting investment projects to be infinitely divisible and private agency costs to be convex. If there are external economies to financial intermediation, then deviations from steady‐state out…
Reply to Kolmar's Comment
Chapter 5 Poverty Traps
Economics (6 works) · Economic theories and models (4 works) · Economic Theory and Policy (3 works) · Microeconomics (3 works) · Political science (3 works) · Computer Science (2 works) · Economic growth (2 works) · Economic Growth and Productivity (2 works) · Economic Theory and Institutions (2 works) · Financial Literacy, Pension, Retirement Analysis (2 works)