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Integrated Macro-Micro-Modelling Under Rational Expectations
This monograph is concerned with the formulation and implementation of ORANI-INT, an intertemporal Computable General Equilibrium (CGE) model of the Australian economy. The aim is to bring together, in a balanced approach, theory and data for the purpose of developing a practical state-of-the-art tool for policy analysis. The modelling approach adopted is motivated by the recent trend in economy-wide modelling to combine the respective strengths of traditional CGE models and modern macroeconomic models. Traditional CGE models typically provide a dissagregate representation of the economy at a single point in time. Such models are useful for analysing issues involving the allocation of resour...
Spatial Change and Interregional Flows in the Integrating Europe
Within the broad frame of regional research in an international perspective, the contributions of this volume present new theoretical, methodological and empirical results as well as political strategies for the following topics: - ecomomic integration in the Baltic rim, - innovation and regional growth, - economic integration, trade and migration, - transport infrastructure and the regions. Most of the topics deal with the long-term integration process in Europe, with a particular focus on the North European and Baltic Sea integration.
Economic Policy and Sustainable Land Use
Since the 1980s many developing countries have implemented macro-economic policy reforms to curb inflation, reduce fiscal deficits and control foreign debt. The policy instruments used, such as exchange rate adjustment, budget cuts, trade policy reforms, public expenditure reviews and privatisation, have different and sometimes opposite consequences for agricultural land use. During the same period awareness was growing that deteriorating soil quality could become a limiting factor to increase or even sustain agricultural production. As a result, food availability and even accessibility for large population groups in developing countries may be jeopardised in the near future. Recently, quant...
Financial Structure and Stability
The basic question of this book is what we can learn from empirical as well as theoretical analysis of financial systems, differing cross-sectional and changing structually over time, with respect to the issue of stability of financial systems. Part I of the book deals with stability issues in a globalizing financial world and addresses topics of convergence, domestic policy, financial bubbles, crises and international coordination. Part II is on banking systems. Country specific adoption and restructuring of (universal but also separation) banking systems are key problems for the industrialized economies, while catching-up is of major concern for the economies in transition. Feeble regional economies and subsidized banking is at the heart of the vivid dispute on public sector banking being taken up in Part III. The last Part is devoted to resource-oriented approaches in quantifiying financial development and risk of sovereign default.
Illegal Immigration and Economic Welfare
Illegal immigration is a problem to not only a labor importing country but also to a labor exporting country, since the implementation of strict immigration policies, i.e., border patrol and employer sanctions, affects both economies. The purpose of this book is to complement previous studies on deportable aliens. The effects of such enforcement policies on the income or welfare of the foreign (labor exporting) country, the home (labor importing) country, and the combined (global) income of the two countries are examined.
Social Security and Solidarity in the European Union
Since the 1970s social security in the European Union has been dominated by attempts at reform and cost control. In the last decade of the twentieth century these attempts have been strengthened by the coming European Economic and Monetary Union (EMU). This book offers an overview of the social security system and its development in Belgium, Denmark, France, Germany, Greece, Ireland, Italy, the Netherlands, Spain and the United Kingdom. The national contributions are preceded by an introduction on the development of social security in Europe till the present day, with special reference to the postwar process of European integration and its effects. The book is concluded by two essays. The first examines the danger and opportunities of European integration for social security. The second discusses ethical aspects: what effect will European integration have on the quality of social security in Europe?
Intellectual Property Rights
This book is the result of the PhD project I started four years ago at Europa-Kolleg Hamburg. I had the great opportunity to work on it for one year at the European University Institute in Florence and to finalise the oeuvre during my stay with the European Commission's Institute for Prospective Technological Studies in Seville. The subject matter of the book is intellectual property rights, patents in particular, and their process of harmonisation in Europe. At the beginning of the work, the intention was not to focus immediately on one narrow field in the huge realm of intellectual property rights but rather to open my mind in order to capture a broad variety of new ideas and concepts in t...
Inside a Modern Macroeconometric Model
As Ken Wallis (1993) has pOinted out, all macroeconomic forecasters and policy analysts use economic models. That is, they have a way of going from assumptions about macroeconomic policy and the international environment, to a prediction of the likely future state of the economy. Some people do this in their heads. Increasingly though, forecasting and policy analysis is based on a formal, explicit model, represented by a set of mathematical equations and solved by computer. This provides a framework for handling, in a consistent and systematic manner, the ever-increasing amounts of relevant information. Macroeconometric modelling though, is an inexact science. A manageable model must focus only on the major driving forces in a complex economy made up of millions of households and fIrms. International economic agencies such as the IMF and OECD, and most treasuries and central banks in western countries, use macroeconometric models in their forecasting and policy analysis. Models are also used for teaching and research in universities, as well as for commercial forecasting in the private sector.
A Theory of Employment in Firms
In a modern economy, production and competition require internal interaction of individuals in firms. The book provides a systematic treatment of the macroeconomic consequenses of this fact. For this purpose the concept of a two-stage monopolistic competition equilibrium is introduced into macroeconomic theory. Firms choose the capacity to organize internal interaction at stage 1 and compete at stage 2. The concept allows a rigorous analysis of the provision of work places and the economic determinants of the employable work force. The book explains why in the equilibrium of a market economy, even under flexible wages, no jobs may be provided for people who are employable from an efficiency point of view. The economic determinants of equilibrium employment covered by the analysis of the book are: New forms of work organization, changes in the skill structure of the labor force, market power of key factors for organization, expectations of investors and international capital movements.
Struggling for Leadership: Antwerp-Rotterdam Port Competition between 1870 –2000
The present volume contains the proceedings of an international conference on the economic history of the seaports of Antwerp and Rotterdam (1870-2000). This venue was held at Antwerp on 10-11 May 2001 and was hosted by the Antwerp Port Authority. This international conference aimed at confronting the development of both ports. In the course of the last century and a half, economic growth in the ports of Antwerp and Rotterdam has been staggering. Maritime economic historians, economists and geographers alike have investigated the development of both ports extensively, but separately. So far, only a limited number of attempts have been made to analyse Rotterdam-Antwerp port history from a comparative perspective. The papers presented at the conference provide a challenging starting point to - certain how and why both ports reacted differently to virtually the same economic and political stimuli. By bringing together both historians, economists and lawyers with different fields of interest, we have attempted to put the history of the ports of Antwerp and Rotterdam in a broader international and comparative perspective.
