The Wicksellian Differential is derived from Knut Wicksell's theory of interest and is an approximation of the extent of disequilibrium in an economy. Formula: Wicksellian Differential = Natural Rate of Interest - Money Rate of Interest Wicksell argued in Interest and Prices that the equilibrium of a credit economy could be ascertained by comparing the money rate of interest to the natural rate of interest. In modern terminology this equates to comparing the cost of capital with the return on capital. In economies where the natural rate is higher than the money rate, credit growth will drive a positive disequilibrium in an economy. When the natural rate of interest is lower than the money rate, the demand for credit dries up leading to a negative disequilibrium and capital destruction. Wicksell also argued that prices would be stable when the two rates of interest were in equilibrium, an idea that was subsequently demonstrated to have been flawed by Gunnar Myrdal and Friedrich Hayek in the late 1920s and early 1930s. The Wicksellian Differential therefore provides an alternative estimation of the extent of disequilibrium in a credit-based economy to more standard Taylor Rule approaches which attempt to estimate deviations from a general equilibrium based on the fluctuations in output and the general price level. (Wikipedia).
Math: Partial Differential Eqn. - Ch.1: Introduction (6 of 42) Partial Derivative Understood
Visit http://ilectureonline.com for more math and science lectures! In this video I will further explain what is partial differential equation by using a graphical example to explain what is a partial derivative of the equation u=f(x,y)=xy^2. Next video in this series can be seen at: ht
From playlist PARTIAL DIFFERENTIAL EQNS CH1 INTRODUCTION
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This video explains how to solve a Bernoulli differential equation. http://mathispower4u.com
From playlist Bernoulli Differential Equations
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This video provides an example of how to solve an Bernoulli Differential Equation. The solution is verified graphically. Library: http://mathispower4u.com
From playlist Bernoulli Differential Equations
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How to Solve a Bernoulli Differential Equation
From playlist Differential Equations
Ex: Solve a Bernoulli Differential Equation Using Separation of Variables
This video explains how to solve a Bernoulli differential equation. http://mathispower4u.com
From playlist Bernoulli Differential Equations
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From playlist Multivariable Calculus
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From playlist Multivariable Calculus
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From playlist Differentiation (A2/Advanced)
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From playlist Differentiation Application - Differentials and Tangent Line Approximations
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