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Author: Carl Chiarella
Publisher: Springer Science & Business Media
ISBN: 3662040700
Category : Business & Economics
Languages : en
Pages : 487
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Book Description
In this book on disequilibrium, growth and labor market dynamics we take predominantly a macroeconomic perspective. We present a working model that can easily be varied in different directions in order to subsume innovations in the literature on macroeconomics, old and new, and to contribute to important currently discussed macroeconomic issues. Our working model is set up in a way that there is a close relationship between our presented dynamic models and modern macro econometric models with disequilibrium both in the labor and the goods markets. One of our objectives is, therefore, to narrow the gap between theoretical and applied structural macrodynamic model building. We hope that the book will be a useful reference for all researchers, academic teachers and practitioners of macroeconomic and macro econometric model building who are interested in economic dynamics, independently of whether they use equilibrium or disequilibrium methods in their own research. We base this hope on the fact that our approach contains a number of unique features. The emphasis on the identification and analysis of the basic feedback mechanisms at work in modern macro economies. A detailed study of the partial as well as integrated dynamic interaction between these feedback mechanisms that consti tute the interdependence of markets and sectors of the modern macro economy. The rela tionship between the macroeconomic framework of our working model and the Walrasian, Non-Walrasian and New-Keynesian reformulations of macroeconomics.
Author: Carl Chiarella
Publisher: Springer Science & Business Media
ISBN: 3662040700
Category : Business & Economics
Languages : en
Pages : 487
Get Book
Book Description
In this book on disequilibrium, growth and labor market dynamics we take predominantly a macroeconomic perspective. We present a working model that can easily be varied in different directions in order to subsume innovations in the literature on macroeconomics, old and new, and to contribute to important currently discussed macroeconomic issues. Our working model is set up in a way that there is a close relationship between our presented dynamic models and modern macro econometric models with disequilibrium both in the labor and the goods markets. One of our objectives is, therefore, to narrow the gap between theoretical and applied structural macrodynamic model building. We hope that the book will be a useful reference for all researchers, academic teachers and practitioners of macroeconomic and macro econometric model building who are interested in economic dynamics, independently of whether they use equilibrium or disequilibrium methods in their own research. We base this hope on the fact that our approach contains a number of unique features. The emphasis on the identification and analysis of the basic feedback mechanisms at work in modern macro economies. A detailed study of the partial as well as integrated dynamic interaction between these feedback mechanisms that consti tute the interdependence of markets and sectors of the modern macro economy. The rela tionship between the macroeconomic framework of our working model and the Walrasian, Non-Walrasian and New-Keynesian reformulations of macroeconomics.
Author: Carl Chiarella
Publisher:
ISBN: 9783662040713
Category :
Languages : en
Pages : 496
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Book Description
Author: Charles van Marrewijk
Publisher: Ashgate Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 184
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Book Description
Static disequilibrium economic theory fails to analyse the dynamic effects of market disequilibrium, whereas standard growth theory always assumes markets to be in equilibrium. Both shortcomings can be overcome by disequilibrium growth theory. A problem arises, however, because different short term disequilibrium regimes give rise to differential equations. The dynamic analysis, therefore, has to take into consideration the possibility of regime switching. Various solutions have been put forward for this problem, but they generally do not give unique solutions. The method developed by Filippov gives a unique solution that coincides with the classical solution to differential equations in the interior of the regimes. This approach has been used in several papers in the past decade. This book seeks to fill the gap in the literature on what has been achieved so far.
Author: Richard E. Quandt
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 120
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Book Description
Author: Piero Ferri
Publisher: Springer Science & Business Media
ISBN: 3662008319
Category : Political Science
Languages : en
Pages : 197
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Book Description
Interest in business cycles has had its 'ups and downs'. After a period of almost steady state growth and of economic tranquility, when the business cycle seemed to be obsolete, the turbulence of the 70s and 80s has contributedto a renewed interest in the topic. Important analytical and methodological innovations have also favored the present abundance of contributions. Four innovations are of particular importance: i. microfoundations ii. nonlinearities iii. stochastic variables iv. real aspects. Both Classical macroeconomics and new-Keynesian approaches seem to share these characteristics, which apply both to endogenous and exogenous explanations of the cycle. The distance separating the newer literature from its forebears seems vast. Previously, cycle theory was characterized by a macro approach and utilized nonlinearities either through piecewise 'linear models or with the aid of Classical theorems in the field of dynamic systems. To consider and to compare the old and the new literature on business cycles is one of the goals of this book. To narrow the distance separating them is another goal of this research. We do not try to bridge it, but rather to revisit the former tradition with new tools. Finally, a particular emphasis is put on the 'ceilings and floors' type of literature. One of us has written a D. Phil. thesis with Sir John Hicks, and both have worked with H. P. Minsky. Hicks, along with Goodwin, introdu. ced the concept of ceilings and floors into business cycle analysis, and Minsky made important contributions to the area.
Author: National Academies of Sciences, Engineering, and Medicine
Publisher: National Academies Press
ISBN: 0309440068
Category : Technology & Engineering
Languages : en
Pages : 259
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Book Description
Skilled technical occupationsâ€"defined as occupations that require a high level of knowledge in a technical domain but do not require a bachelor's degree for entryâ€"are a key component of the U.S. economy. In response to globalization and advances in science and technology, American firms are demanding workers with greater proficiency in literacy and numeracy, as well as strong interpersonal, technical, and problem-solving skills. However, employer surveys and industry and government reports have raised concerns that the nation may not have an adequate supply of skilled technical workers to achieve its competitiveness and economic growth objectives. In response to the broader need for policy information and advice, Building America's Skilled Technical Workforce examines the coverage, effectiveness, flexibility, and coordination of the policies and various programs that prepare Americans for skilled technical jobs. This report provides action-oriented recommendations for improving the American system of technical education, training, and certification.
Author: Joyce Jacobsen
Publisher: John Wiley & Sons
ISBN: 1405142308
Category : Business & Economics
Languages : en
Pages : 586
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Book Description
This innovative text grounds the economic analysis of labor markets and employment relationships in a unified theoretical treatment of labor exchange conditions. In addition to providing thorough coverage of standard topics including labor supply and demand, human capital theory, and compensating wage differentials, the text draws on game theory and the economics of information to study the implications of key departures from perfectly competitive labor market conditions. Analytical results are consistently applied to contemporary policy issues and empirical debates. Provides a coherent theoretical framework for the analysis of labor market phenomena Features graphical in-chapter analysis supplemented by technical material in appendices Incorporates numerous end-of-chapter questions that engage the analysis and anticipate subsequent results Includes innovative chapters on employee compensation methods, market segmentation, income inequality and labor market dynamics Balances theoretical, empirical and policy analysis
Author: Christopher A. Pissarides
Publisher: Cambridge University Press
ISBN: 9780521210645
Category : Business & Economics
Languages : en
Pages : 278
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Book Description
Labour economics textbook on labour market adjustment - develops a short-run dynamic system for the economic analysis of problems related to disequilibrium trading, inflation, unemployment, etc., and discussess various aspects of job searching. Bibliography pp. 249 to 254, diagrams, graphs and references.
Author: Pierre-Richard Agénor
Publisher: International Monetary Fund
ISBN: 1451854781
Category : Business & Economics
Languages : en
Pages : 98
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Book Description
This paper examines the role of the labor market in the transmission process of adjustment policies in developing countries. It begins by reviewing the recent evidence regarding the functioning of these markets. It then studies the implications of wage inertia, nominal contracts, labor market segmentation, and impediments to labor mobility for stabilization policies. The effect of labor market reforms on economic flexibility and the channels through which labor market imperfections alter the effects of structural adjustment measures are discussed next. The last part of the paper identifies a variety of issues that may require further investigation, such as the link between changes in relative wages and the distributional effects of adjustment policies.
Author: Mariano Bosch
Publisher: World Bank Publications
ISBN:
Category : Business Cycle
Languages : en
Pages : 43
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Book Description
Abstract: The authors study the dynamics of three developing country labor markets using recent advances in the estimation of continuous time Markov processes. They first examine the flows of workers among five states: three types of paid labor, unemployment, and out of the labor force. The authors find a high degree of commonality in patterns of worker flows among the three countries and attempt to compare the flexibility of the markets by examining an index of overall mobility. Second, they seek to establish whether the issues of advanced country labor markets apply to developing country markets or whether the latter constitute a different phylum. Paralleling the mainstream literature on the role of being out of the labor force as discouraged unemployment, the authors then identify some common stylized facts about the role of the informal self-employed and salaried sectors and to what degree they serve as a holding pattern versus a desirable alternative to formal sector work. In the process, the authors identify very strong differences in mobility patterns between men and women and attempt to shed some light on whether these differences arise from discrimination or perhaps instead the constraints imposed by household responsibilities. Finally, they study labor market adjustment across the business cycle in Mexico and identify patterns of job creation and destruction among the three paid sectors and confirm the mainstream view of the role of out of the labor force as a procyclical phenomenon.
