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A Disequilibrium Model of Real and Financial Accumulation in an Open Economy
This is the fourth version of a model that five years ago we set out to build and estimate along the lines of the continuous time approach clarified In chapter 1. Previous versions appeared in journal articles and conference proceedings, where the space is notoriously limited. Therefore we welcome the possibility of publishing a book-length treatment of this fourth version, so that we can describe its theoretical and empirical aspects in some detail. Although we have worked closely together and accept joint responsibility for the whole book, chs. 1 and 2 and appendix I have been written by G. Gandolfo, whilst chs. ] and 4 and appendix II have been written by P.c. Padoan. Different parts of t...
Dynamic Factor Demand in a Rationing Context
A macroeconomic disequilibrium model is developed for the Federal Republic of Germany. Starting with a microeconomic model of firm's behaviour, the optimal dynamic adjustment of employment and investment is derived. The model of the firm is complemented by an explicite aggregation procedure which allows to derive macroeconomic relations. The model is estimated with macroeconomic data for the Federal Republic of Germany. An important feature is the consistent introduction of dynamic adjustment into a model of the firm. A new method is the particular approach of a delayed adjustment of employment and investment. The estimation results show significant underutilizations of labour and capital and indicate the importance of supply constraints for imports and exports. As the most prominent result, they reveal the importance of the slow adjustment of employment and investment for the macroeconomic situation in Germany and especially for the persistence of high unemployment in the eighties.
Stabilization Policy in France and the Federal Republic of Germany
The object of this book is to compare the macroeconomic characteristics of the French and German economies. It focusses on the effect of stabilization policy and of international disturbances and tries to find out the trade-offs of economic policy. The study is based on a simulation analysis using large-scale econometric models of the two countries. Instead of using models as black boxes the dynamic structures are compared in considerable detail. This entails decomposing the models into blocs of strategic sets of equations. Comparing bloc by bloc allows one to distinguish between the contribution of various economic processes (price-wage dynamics, monetary mechanism, multiplier-accelerator interaction) to macroeconomic performance. Main features: Franco-German comparison of macroeconomic response to policy measures and international shocks; Evaluation of policy trade-offs; Detailed institutional and historical background to macro-policy in France and Germany.
Empirical Approaches to Fiscal Policy Modelling
Alberto Heimler and Daniele Meulders In the last decade the modelling of the interrelationship between public finance and the rest of the economy has seen substantial advances, reflected in many of the papers delivered to the Applied Econometrics Association Conference held at Confindustria, Rome, on 30 November and 1 December 1989. In particular, the development of the literature on applied general-equilibrium modelling has found most of its applications in the field of taxation, enlarging and completing the estimation of the welfare loss due to distortionary taxes. In this context an important extension has been the introduction of overlapping-generation models. Furthermore, it has become ...
Dimensions of Environmental and Ecological Economics
Besides Covering The Paradigamatic Bases Of Environmental, Ecological And Natural Resource Economics, This Book Discusses The Economic Dimensions Of And Approaches To Pollution, Environmental And Ecosystem Management, Biodiversity, Global Warming, Energy And Resource Use, And Sustainable Development.
Macroeconometric Models
This book gives a comprehensive description of macroeconometric modeling and its development over time. The first part depicts the history of macroeconometric model building, starting with Jan Tinbergen's and Lawrence R. Klein's contributions. It is unique in summarizing the development and specific structure of macroeconometric models built in North America, Europe, and various other parts of the world. The work thus offers an extensive source for researchers in the field. The second part of the book covers the systematic characteristics of macroeconometric models. It includes the household and enterprise sectors, disequilibria, financial flows, and money market sectors.
Econometric Modelling in Theory and Practice
Proceedings of a Franco-Dutch Conference held at Tilburg University, April 1979
Surrealism
Dal. Picasso. Ernst. Magritte. Maddox. Breton. Artaud, Fondane, Masson--all are to be found in this gallery of surrealist artists. Focussing on surrealist visuality--defined as the visual expression of internal perception or, in Andr Breton's words, internal representation--the contributors to this handsomely illustrated volume shed new light on one of the twentieth century's most exciting cultural movements.
