The Working of Econometric ModelsCambridge University Press, 1972 M11 30 - 339 páginas This book reports the results of five empirical studies undertaken in the early seventies by a collaboration headed by Professor Morishima. It deals with applications of the general equilibrium models whose theoretical aspects have been one of Professor Morishima's main interests. Four main econometric models are constructed for the USA, the UK, and Japan. These are used as a basis for the discussion of various topics in economic theory, such as: the existence and stability or instability of the neoclassical path of full employment growth equilibrium and a von Neumann-type path of balanced growth at constant proces; the antimony between price-stability and full employment; the Samuelson-LeChatelier principle; the theory of the balanced-budget multiplier; the three Hicksian laws of the gross substitutes system; the Brown-Jones super-multipliers of international trade, and so on. In addition, this 1972 work makes a quantitative evaluation for the US economy of monetary and fiscal policies as short-run measures for achieving full employment; the effectiveness of built-in flexibility of taxes in the UK economy is discussed; and estimates are made of the rapid decrease in disguised unemployment in post-war Japan. |
Contenido
III | 3 |
IV | 5 |
V | 25 |
VI | 49 |
VII | 73 |
IX | 75 |
X | 78 |
XI | 98 |
XIX | 218 |
XX | 243 |
XXIII | 245 |
XXIV | 258 |
XXV | 272 |
XXVI | 290 |
XXVII | 303 |
XXIX | 305 |
Otras ediciones - Ver todas
The Working of Econometric Models M. Morishima,Y. Murata,T. Nosse,M. Saito Sin vista previa disponible - 2010 |
Términos y frases comunes
actual aggregate agriculture analysis assume average Bank of Japan billion yen budget built-in flexibility C₁ calculated capital cent ceteris paribus column computed constant consumption function corresponding disguised unemployment econometric Economic elasticity employment ratio endogenous equation estimated excluding exogenous demand exports Əlog Fabricated metals factor cost figures final demand fixed investment forestry formula Goldberger government expenditure gross national income growth equilibrium HMSO impact multipliers imports income at factor income tax input coefficients input-output table investment Japan Leontief inverse long-run marginal propensity matrix ment Ministry of Labour multiplier effect national income nonmetal normalized prices obtained outlay tax P₁ partial multipliers period personal income Petroleum price changes production function propensity to consume rate of growth relative prices relative wages respectively sector Statistics supermultiplier tax rates tax yield trade values variables w₁ wage rate Y₁ ΙΟ Ο.ΟΙ