Long Run Solution
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Long Range Farm Program
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Author : United States. Congress. House. Committee on Agriculture
language : en
Publisher:
Release Date : 1953
Long Range Farm Program written by United States. Congress. House. Committee on Agriculture and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1953 with Agriculture categories.
Efficient Rent Seeking
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Author : Alan Lockard
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-03-14
Efficient Rent Seeking written by Alan Lockard 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 2013-03-14 with Business & Economics categories.
Some time ago one of the editors (Gordon Tullock) stumbled on a paradox in the competition for rents. He asked a previous research assistant (William Hunter) to work out some examples and gave a seminar on it. For reasons he cannot recall (but probably bad) he titled his talk `Efficient Rent Seeking'. As Editor of Public Choice he was able to publish without a referee. Incidentally, The Journal of Political Economy had turned it down on the grounds that the economy could not be that chaotic, and hence there must be something wrong even if the referee couldn't put his finger on it. There followed a long series of articles, mainly in Public Choice, in which various distinguished scholars proposed solutions to the paradox. The editor responded by finding fault with these solutions. In this case the editor was arguing against interest. He, like the referee for the JPE, believed that the market works, if not perfectly, at least very well. Nevertheless, the paradox resisted and persisted. It was like the paradox of the liar, and indeed in some cases did show exactly that paradox. Eventually everyone, including the editor, grew tired of the matter and the discussion sort of wound down, although it could not be said that it was either solved or even abated. It also began to appear that it had a much larger scope than just competitive rent seeking. Any contest for wealth, privilege, or prestige in which the chances of winning were affected by the investment of the contestants would appear to be subject to the same problem. The sum of the investments in equilibrium might be much less than the prize or much more. It depended on the structure of the contest, but the range of structures seemed to include almost all economic competition. Clearly, from the standpoint of economics, this was a distressing conclusion. Perhaps the whole vast structure of economic analysis rested on faulty foundations. Speaking frankly, neither of the editors thinks the situation is that desperate. We feel that there is a logical solution, even if we do not know what it is. The purpose of this volume is to attempt to get economists to turn to the problem and, hopefully, solve the paradox. We present here a substantial portion of the literature on the matter. We hope that the readers will be stimulated to think about the problem and, even more, we hope they will be able to solve it.
International Macroeconomics
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Author : Victor Argy
language : en
Publisher: Routledge
Release Date : 2013-01-11
International Macroeconomics written by Victor Argy and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-11 with Business & Economics categories.
International Macroeconomics: Theory and Policy offers phenomenal coverage across the entire subject of international macroeconoimics in an open economy context. The book has four objectives: * to describe the evolution of and experiences with global exchange rate regimes * to introduce the reader to a rigorous analysis of open economy models * to apply the model framework to address key policy issues * to review individual country experiences of macro policy
Productivity And Reliability Based Maintenance Management
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Author : Matthew P. Stephens
language : en
Publisher: Purdue University Press
Release Date : 2010
Productivity And Reliability Based Maintenance Management written by Matthew P. Stephens and has been published by Purdue University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.
With its easy-to-read writing style, Productivity and Reliability-Based Maintenance Management provides a strong yet practical foundation on Total Productive Maintenance (TPM). This comprehensive practical guide departs from the wait-failure-emergency repair cycle that plagues many industries today. Instead, this text takes a proactive and productive maintenance approach, focusing on how to avoid failure in the first place. By using real-world case studies in every chapter, the author reinforces the importance of sound and proactive maintenance practices. The use of end-of-chapter problems and discussion questions helps to solidify concepts presented. Productivity and Reliability-Based Maintenance Management is a powerful educational tool for students as well as maintenance professionals and managers. This volume was previously published under the same title in 2004 by Pearson Education, and has been reprinted with permission through an arrangement with the author.
Stochastic Optimal Control International Finance And Debt Crises
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Author : Jerome L. Stein
language : en
Publisher: OUP Oxford
Release Date : 2006-04-06
Stochastic Optimal Control International Finance And Debt Crises written by Jerome L. Stein and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-04-06 with Business & Economics categories.
This book focuses on the interaction between equilibrium real exchange rates, optimal external debt, endogenous optimal growth and current account balances, in a world of uncertainty. The theoretical parts result from interdisciplinary research between economics and applied mathematics. From the economic theory and the mathematics of stochastic optimal control the author derives benchmarks for the optimal debt and equilibrium real exchange rate in an environment where both the return on capital and the real rate of interest are stochastic variables. The theoretically derived equilibrium real exchange rate - the "natural real exchange rate" NATREX - is where the real exchange rate is heading. These benchmarks are applied to answer the following questions. * What is a theoretically based empirical measure of a "misaligned" exchange rate that increases the probability of a significant depreciation or a currency crisis? * What is a theoretically based empirical measure of an "excess" debt that increases the probability of or a debt crisis? * What is the interaction between an excess debt and a misaligned exchange rate? The theory is applied to evaluate the Euro exchange rate, the exchange rates of the transition economies, the sustainability of U.S. current account deficits, and derives warning signals of the Asian crises and debt crises in emerging markets.
Time Series Analysis And Macroeconometric Modelling
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Author : Kenneth Frank Wallis
language : en
Publisher: Edward Elgar Publishing
Release Date : 1995-01-01
Time Series Analysis And Macroeconometric Modelling written by Kenneth Frank Wallis and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-01-01 with Business & Economics categories.
'An excellent reference volume of this author's work, bringing together articles published over a 25 year span on the statistical analysis of economic time series, large scale macroeconomic modelling and the interface between them.' - Aslib Book Guide This major volume of essays by Kenneth F. Wallis features 28 articles published over a quarter of a century on the statistical analysis of economic time series, large-scale macroeconometric modelling, and the interface between them. The first part deals with time-series econometrics and includes significant early contributions to the development of the LSE tradition in time-series econometrics, which is the dominant British tradition and has considerable influence worldwide. Later sections discuss theoretical and practical issues in modelling seasonality and forecasting with applications in both large-scale and small-scale models. The final section summarizes the research programme of the ESRC Macroeconomic Modelling Bureau, a unique comparison project among economy-wide macroeconometric models.
Labor Tax Cuts And Employment
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Author : Mr.Raphael A. Espinoza
language : en
Publisher: International Monetary Fund
Release Date : 2014-07-02
Labor Tax Cuts And Employment written by Mr.Raphael A. Espinoza and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-07-02 with Business & Economics categories.
The paper presents a simple supply side, general equilibrium model to estimate the macroeconomic effects of labor tax cuts. The model assumes that output is produced using capital, unskilled and skilled workers, and public servants. Wage formation for skilled workers features a Blanchflower-Oswald wage curve, while the labor supply for unskilled workers is very elastic around the minimum wage for small changes in employment. The model is calibrated for France and used to estimate the output and employment effects induced by two recent tax reforms: the Crédit d’Impôt pour la Compétitivité et l’Emploi (CICE) and the Pacte de Solidarité Responsabilité (RSP). We find that the tax cuts, if not offset by other fiscal measures, would contribute overall to creating around 200,000 jobs in the short run (600,000 jobs in the long run). Since the model abstracts from demand side effects, the results should be interpreted as providing estimates of the effect of tax measures on potential output and potential employment.
Aviation Cost Allocation Study
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Author :
language : en
Publisher:
Release Date : 1972
Aviation Cost Allocation Study written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1972 with Aeronautics, Commercial categories.
Analyses In Macroeconomic Modelling
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Author : Andrew J. Hughes Hallett
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Analyses In Macroeconomic Modelling written by Andrew J. Hughes Hallett 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.
Macroeconomic Modelling has undergone radical changes in the last few years. There has been considerable innovation in developing robust solution techniques for the new breed of increasingly complex models. Similarly there has been a growing consensus on their long run and dynamic properties, as well as much development on existing themes such as modelling expectations and policy rules. This edited volume focuses on those areas which have undergone the most significant and imaginative developments and brings together the very best of modelling practice. We include specific sections on (I) Solving Large Macroeconomic Models, (II) Rational Expectations and Learning Approaches, (III) Macro Dynamics, and (IV) Long Run and Closures. All of the contributions offer new research whilst putting their developments firmly in context and as such will influence much future research in the area. It will be an invaluable text for those in policy institutions as well as academics and advanced students in the fields of economics, mathematics, business and government. Our contributors include those working in central banks, the IMF, European Commission and established academics.
Handbook On Optimal Growth 1
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Author : Rose-Anne Dana
language : en
Publisher: Springer Science & Business Media
Release Date : 2006-07-01
Handbook On Optimal Growth 1 written by Rose-Anne Dana 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 2006-07-01 with Business & Economics categories.
The problem of e?cient or optimal allocation of resources is a fundamental concern of economic analysis. The theory of optimal economic growth can be viewedasanaspectofthiscentraltheme,whichemphasizesingeneraltheissues arising in the allocation of resources over an in?nite time horizon, and in p- ticular the consumption-investment decision process in models in which there is no natural ”terminal date”. This broad scope of ”optimal growth theory” is one which has evolved over time, as economists have discovered new interp- tations of its central results, as well as new applications of its basic methods. The purpose of this handbook is to provide surveys of some signi?cant results of the theory of optimal growth,as well as the techniques of dynamic optimi- tion theory on which they are based. Armed with the results and methods of this theory, a researcher should be in an advantageous position to apply these versatile methods of analysis to new issues in the area of dynamic economics, as well as to contribute to the further development of the mathematical te- niques of optimization over time. The survey included in this volume all have as a common starting point the seminal contribution of Frank Ramsey (1928).