Integrated Macro Micro Modelling Under Rational Expectations

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Integrated Macro Micro Modelling Under Rational Expectations

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Author : Michael Malakellis
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06

Integrated Macro Micro Modelling Under Rational Expectations written by Michael Malakellis and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.

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 resources among the various agents identified at a particular point in time. Modern macroeconomic models, on the other hand, usually provide an aggregate representation of the economy over many points in time. Such models are useful for analysing issues involving the allocation of resources across time. A model that combines the strengths of static CGE models and modern macro-dynamic models is amenable to addressing a wide range of policy issues. To demonstrate this point ORANI-INT is used to analyse tariff reform.

Integrated Macro Micro Modelling Under Rational Expectations

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Author : Michael Malakellis
language : en
Publisher:
Release Date : 2000-02-17

Integrated Macro Micro Modelling Under Rational Expectations written by Michael Malakellis and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-02-17 with categories.

This book provides a comprehensive account of the theoretical structures, database, computation and application of ORANI-INT. ORANI-INT is a multi-period elaboration of ORANI, a well-known computable general equilibrium model of the Australian economy. The implications of assuming that expectations are model consistent are contrasted with those of the alternative assumption that expectations are static. A generic algorithm for solving a wide range of economic models is described in detail. The algorithm is portable because it is implemented in GEMPACK, a commercially available software package. The major application reported in the book addresses the issue whether tariff reform policies should be announced ahead of their implementation. Many of the multisectoral models used throughout the world are static. The methodology presented in the book demonstrates that such models can be easily embedded into an intertemporal framework.

Handbook Of Computable General Equilibrium Modeling

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Author : Peter B. Dixon
language : en
Publisher: Newnes
Release Date : 2013-11-14

Handbook Of Computable General Equilibrium Modeling written by Peter B. Dixon and has been published by Newnes this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-11-14 with Business & Economics categories.

In this collection of 17 articles, top scholars synthesize and analyze scholarship on this widely used tool of policy analysis, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top US graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view. - Presents coherent summaries of CGE theories that inform major model types - Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results - Shows how CGE modeling has made a contribution to economic policy

Financial Structure And Stability

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Author : Alexander Karmann
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06

Financial Structure And Stability written by Alexander Karmann and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.

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

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Author : Chisato Yoshida
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06

Illegal Immigration And Economic Welfare written by Chisato Yoshida and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Social Science categories.

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

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Author : Joos P.A. van Vugt
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06

Social Security And Solidarity In The European Union written by Joos P.A. van Vugt and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Political Science categories.

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?

Utility And Production

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Author : Pablo Coto-Millán
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06

Utility And Production written by Pablo Coto-Millán and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.

This book is different from the first edition. There are three entirely new chapters: 2,6 and 9. I have also included new sections in chapters 1,4 and 8. Moreover, the remaining chapters, 3, 5 and 7, have been revised and updated. In chapters 2 and 6 I felt it was necessary to include the main alternative theories ofconsumer and company behaviour along with the neo-classical models. The book contains four chapters oftheory - 1, 2, 5 and 6 - and four chapters with theoretical and empirical applications - 3, 4, 7 and 8. Finally, chapter nine looks at choices made under conditions ofuncertainty. September 2002 P. Coto-Millan Preface to the First Edition Grateful acknowledgment is made to CICYT (Comision Interministerial de Ciencia y Tecnologia), National Plan R+D, Projects N-TXT96-2467 and N TXT98-1453 for its fmancial support. This text presents the economic theories on Utility and Production. In addition, such theories are used to explain the real problems of consumers and fIrms and several studies carried out by the author are displayed. Some collaboration by other professors of Economics is mentioned in the corresponding footnotes. The responsibility for errors and omissions, however, rests entirely upon the author. In chapters 1 and 4 of the book I try to present the theory of Utility and Production. Chapter 3 presents new functional forms and two empirical applications, on demand functions and systems. In chapters 2 and 5, the main theorems and properties presented in chapters 1 and 4 are applied.

Economic Modeling Of Water

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Author : Glyn Wittwer
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-03-14

Economic Modeling Of Water written by Glyn Wittwer and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03-14 with Business & Economics categories.

The book details the innovative TERM (The Enormous Regional Model) approach to regional and national economic modeling, and explains the conversion from a comparative-static to a dynamic model. It moves on to an adaptation of TERM to water policy, including the additional theoretical and database requirements of the dynamic TERM-H2O model. In particular, it examines the contrasting economic impacts of water buyback policy and recurring droughts in the Murray-Darling Basin. South-east Queensland, where climate uncertainty has been borne out by record-breaking drought and the worst floods in living memory, provides a chapter-length case study. The exploration of the policy background and implications of TERM’s dynamic modeling will provide food for thought in policy making circles worldwide, where there is a pressing need for solutions to similarly intractable problems in water management.

Econometric Modelling Of European Money Demand

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Author : Engelbert Plassmann
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06

Econometric Modelling Of European Money Demand written by Engelbert Plassmann and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.

The introduction of a single European currency constitutes a remarkable instance of internationalization of monetary policy. Whether a concomitant internationalization can be detected also in the econometric foundations of monetary policy is the topic dealt with in this book. The basic theoretical ingredients comprise a data-driven approach to econometric modelling and a generalized approach to cross-sectional aggregation. The empirical result is a data-consistent structural money demand function isolated within a properly identified, dynamic macroeconomic system for Europe. The book itself evolved from a research project within the former Son derforschungsbereich SFB 178 "Internationalization of the Economy" at the University of Konstanz. Its finalization entails a due amount of gratitude to be extended into several directions: I am personally indebted, first of all, to my academic supervisor, Professor Dr. Nikolaus Laufer, for originally inspiring this work and for meticulously perusing its eventual result. Professor Dr. Win fried Pohlmeier, as a second supervisor, provided valuable confidence bounds around an earlier draft. The comments of both supervisors contributed substantially to the present shape of the book. I am institutionally indebted to the University of Konstanz, notably its Faculty of Economics and Statistics, for continuous provision of an excellent research environment, and to the Deutsche Forschungsgemeinschaft in Bonn for generous sponsorship of the former SFB, whose financial support dur ing that period is gratefully acknowledged. I am also indebted to Dresdner Bank AG Frankfurt, Risk Methodology Trading, for benign tolerance of all distractions associated with the preparation of the final manuscript.

Spatial Change And Interregional Flows In The Integrating Europe

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Author : Johannes Bröcker
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06

Spatial Change And Interregional Flows In The Integrating Europe written by Johannes Bröcker and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.

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.