Comparative statics
In economics, comparative statics is the comparison of two different economic outcomes, before and after a change in some underlying exogenous parameter. As a type of static analysis it compares two different equilibrium states, after the process of adjustment (if any). It does not study the motion towards equilibrium, nor the process of the change itself. For models of stable equilibrium rates of change, such as the neoclassical growth model, comparative dynamics is the counterpart of comparative statics (Eatwell, 1987).
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- enIn economics, comparative statics is the comparison of two different economic outcomes, before and after a change in some underlying exogenous parameter. As a type of static analysis it compares two different equilibrium states, after the process of adjustment (if any). It does not study the motion towards equilibrium, nor the process of the change itself. For models of stable equilibrium rates of change, such as the neoclassical growth model, comparative dynamics is the counterpart of comparative statics (Eatwell, 1987).
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- Has abstract
- enIn economics, comparative statics is the comparison of two different economic outcomes, before and after a change in some underlying exogenous parameter. As a type of static analysis it compares two different equilibrium states, after the process of adjustment (if any). It does not study the motion towards equilibrium, nor the process of the change itself. Comparative statics is commonly used to study changes in supply and demand when analyzing a single market, and to study changes in monetary or fiscal policy when analyzing the whole economy. Comparative statics is a tool of analysis in microeconomics (including general equilibrium analysis) and macroeconomics. Comparative statics was formalized by John R. Hicks (1939) and Paul A. Samuelson (1947) (Kehoe, 1987, p. 517) but was presented graphically from at least the 1870s. For models of stable equilibrium rates of change, such as the neoclassical growth model, comparative dynamics is the counterpart of comparative statics (Eatwell, 1987).
- Hypernym
- Comparison
- Is primary topic of
- Comparative statics
- Label
- enComparative statics
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- American Stock Exchange
- Andreu Mas-Colell
- Category:Comparative statics
- Comparative dynamics
- Cramer's Rule
- Demand curve
- Derivative
- Determinant
- Economic equilibrium
- Economics
- Envelope theorem
- Exogenous variable
- File:Supply-and-demand.svg
- Fiscal policy
- Foundations of Economic Analysis
- General equilibrium
- Implicit function theorem
- Jacobian matrix
- Lattice (order)
- Linear approximation
- Macroeconomics
- Market (economics)
- Marshallian demand function
- Microeconomics
- Model (economics)
- Monetary policy
- Monotone comparative statics
- Multiplier (economics)
- Neoclassical growth model
- New Palgrave: A Dictionary of Economics
- Operational research
- Parameter
- Paul A. Samuelson
- Qualitative economics
- Sir John Richard Hicks
- Stability theory
- Static analysis
- Supply and demand
- Time derivative
- Total differentiation
- Value and Capital
- SameAs
- Comparatieve statica
- Comparative statics
- Estática comparativa
- Estática comparativa
- Komparative Statik
- m.0388wf
- Q1416996
- S5rM
- Statica comparata
- 比較静学
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- Category:Comparative statics
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