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Author: Roger John Bowden
Publisher: North-Holland
ISBN:
Category : Business & Economics
Languages : en
Pages : 348
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Book Description
Author: Roger John Bowden
Publisher: North-Holland
ISBN:
Category : Business & Economics
Languages : en
Pages : 348
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Book Description
Author: C.M. Davis
Publisher: Springer Science & Business Media
ISBN: 9400908237
Category : Business & Economics
Languages : en
Pages : 504
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Book Description
The centrally planned economies (CPEs) of the Soviet Union and Eastern Europe have experienced severe imbalances in domestic and external markets over the past several decades. As a result, they have been chronically afflicted by problems such as excess demand, repressed inflation, deficits of commodities, queues, waiting lists, and forced savings. Economists have responded to these phenomena by developing appropriate theoretical and empirical models of CPEs. Of particular note have been the pioneering studies of Richard Portes on disequilibrium econometric models and Janos Kornai on the shortage economy. Each approach has attracted followers who have produced numerous, innovative macro- and microeconomic models of Poland, Czechoslovakia, the German Democratic Republic, Hungary, and the USSR. These models have proved to be of considerable value in the analysis of the causes, consequences and remedies of disequilibrium phenomena. Inevitably, the new research has also generated controversies both between and within the schools of shortage and disequilibrium modelling, concerning the fundamental nature of the socialist economy, theoretical concepts and definitions, the specification of models, estimation techniques, interpretation of empirical findings, and policy recommend ations. Furthermore, the research effort has been energetic but incomplete, so many gaps exist in the field.
Author: Tönu Puu
Publisher: Springer
ISBN: 3319744151
Category : Business & Economics
Languages : en
Pages : 306
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Book Description
This book discusses mathematical models for various applications in economics, with a focus on non-linear dynamics. Based on the author’s over 50 years of active work in the field, the book has been inspired by models from the period between 1920 and 1950. Following a brief introduction to economics for mathematicians and other modelers, it assembles a repository of useful specific functions for global dynamic modeling. Furthermore, twelve “research stubs” – outlined research agendas that have not yet been fully worked on – are suggested for further study and could even be expanded to entire research projects. The book is a valuable resource, particularly for young scientists who are skilled in mathematical and computational techniques and are looking for applications in economics.
Author: Kaliappa Kalirajan
Publisher: Routledge
ISBN: 1351774883
Category : Business & Economics
Languages : en
Pages : 232
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Book Description
This title was first published in 2003. This text presents a new approach to incorporating regional details on production in a disequilibrium macroeconometric model. The early studies on disequilibrium dealt with either partial-adjustment models or models involving excess demand or supplies in markets. In this study the authors consider a different type of disequilibrium model - one in which econometric analysis makes use of the varying coefficients stochastic production frontier approach, which permits estimation and analysis of production efficiencies of individual producers. The book also presents an innovative approach to production modelling in macro econometric models as it provides a useful framework for incorporating production efficiencies and regional details of production in the macro models. It is a pioneering study that combines the stochastic frontier approach with macro econometric modelling. Primarily focused on India, it also provides insights into problems in modelling economies of other developing countries.
Author: Richard E. Quandt
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 120
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Book Description
Author: Hans-Jürg Büttler
Publisher: Springer Science & Business Media
ISBN: 3642483402
Category : Business & Economics
Languages : en
Pages : 124
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Book Description
This monograph grew out of a project which was sponsored by the Swiss National Foundation ("Schweizerischer Nationalfonds") under grant no. 4. 636-0. 83. 09. Yithin this project, prediction-oriented estimation methods for the canonical econometric disequilibrium model were developed. The present monograph deals with the application of these estimation techniques to three aggregative markets of the Swiss economy. Parts of the monograph have been presented at various places: the estimation techniques described in chapter 3 at the European Meeting of the Econometric Society, Madrid 1984; the application to residential investment described in chapter 4 at a symposium on housing policy at the University of Mannheim, 1984; the empirical study on the money stock described in chapter 5 at the Symposium on Money, Banking and Insurance held at the University of Karlsruhe, 1984, as well as at a joint seminar of the University of Basle and the Bank for International Settlements (BIS), 1985; and, finally, the empirical study on the aggregate labor market described in chapter 6 at a seminar of the University of ZUrich, 1985. Comments from toe seminar participants, in particular from Palle S. Andersen (BIS) who served as a discussant, Pascal Bridel (Swiss National Bank, SNB), Franz Ettlin (SNB), and Kurt Schiltknecht (Nordfinanz-Bank, Zurich) are gratefully acknowledged, without implying any responsibility on their part. The methodological part described in chapters 2 and 3 is contributed by G. Frei and B.
Author: Ray C. Fair
Publisher: Harvard University Press
ISBN: 9780674831803
Category : Business & Economics
Languages : en
Pages : 504
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Book Description
This book gives a practical, applications-oriented account of the latest techniques for estimating and analyzing large, nonlinear macroeconomic models. Ray Fair demonstrates the application of these techniques in a detailed presentation of several actual models, including his United States model, his multicountry model, Sargent's classical macroeconomic model, autoregressive and vector autoregressive models, and a small (twelve equation) linear structural model. He devotes a good deal of attention to the difficult and often neglected problem of moving from theoretical to econometric models. In addition, he provides an extensive discussion of optimal control techniques and methods for estimating and analyzing rational expectations models. A computer program that handles all the techniques in the book is available from the author, making it possible to use the techniques with little additional programming. The book presents the logic of this program. A smaller program for personal microcomputers for analysis of Fair's United States model is available from Urban Systems Research & Engineering, Inc. Anyone wanting to learn how to use large macroeconomic models, including researchers, graduate students, economic forecasters, and people in business and government both in the United States and abroad, will find this an essential guidebook.
Author: Ray C. FAIR
Publisher: Harvard University Press
ISBN: 0674036638
Category : Business & Economics
Languages : en
Pages : 314
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Book Description
Macroeconomics tries to describe and explain the economywide movement of prices, output, and unemployment. The field has been sharply divided among various schools, including Keynesian, monetarist, new classical, and others. It has also been split between theorists and empiricists. Ray Fair is a resolute empiricist, developing and refining methods for testing theories and models. The field cannot advance without the discipline of testing how well the models approximate the data. Using a multicountry econometric model, he examines several important questions, including what causes inflation, how monetary authorities behave and what are their stabilization limits, how large is the wealth effect on aggregate consumption, whether European monetary policy has been too restrictive, and how large are the stabilization costs to Europe of adopting the euro. He finds, among other things, little evidence for the rational expectations hypothesis and for the so-called non-accelerating inflation rate of unemployment (NAIRU) hypothesis. He also shows that the U.S. economy in the last half of the 1990s was not a new age economy.
Author: Richard E. Quandt
Publisher: Edward Elgar Publishing
ISBN: 9781782543176
Category : Business & Economics
Languages : en
Pages : 876
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Book Description
Professor Richard Quandt has made a major contribution to the development of economics in the 20th century. The range and significance of his work has long required a collection of his essays which will allow his contribution to be assessed as a whole. Despite an early interest in microeconomic theory, Richard Quandt has devoted most of his career to econometrics and, in particular, modal split estimation. More recently his work has focused on the econometrics of disequilibrium models with reference to both free market and planned economies. As well as outlining his many articles in microtheory, general econometrics, disequilibrium modeling, financial economics and the economics of planned economies, this collection should have a particular value for all scholars interested in the emergence of the new economies in Eastern Europe, a subject to which Professor Quandt has applied himself in recent years. This book includes an introduction by Professor Quandt describing his early life in Budapest and the circumstances which led him to study economics in America.
Author: Alvin E. Roth
Publisher: Cambridge University Press
ISBN: 1107782430
Category : Business & Economics
Languages : en
Pages : 288
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Book Description
Two-sided matching provides a model of search processes such as those between firms and workers in labor markets or between buyers and sellers in auctions. This book gives a comprehensive account of recent results concerning the game-theoretic analysis of two-sided matching. The focus of the book is on the stability of outcomes, on the incentives that different rules of organization give to agents, and on the constraints that these incentives impose on the ways such markets can be organized. The results for this wide range of related models and matching situations help clarify which conclusions depend on particular modeling assumptions and market conditions, and which are robust over a wide range of conditions. 'This book chronicles one of the outstanding success stories of the theory of games, a story in which the authors have played a major role: the theory and practice of matching markets ... The authors are to be warmly congratulated for this fine piece of work, which is quite unique in the game-theoretic literature.' From the Foreword by Robert Aumann
