The Working of Econometric Models
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Working of Econometric Models by Michio Morishima
Book DescriptionThis 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.
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Book DetailsISBN: 9780521085021
(204mm x 159mm x 24mm)
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 30-Nov-1972
Country of Publication: United Kingdom
Books By Author Michio Morishima
Working of Econometric Models, Paperback (January 2010)
Examines the results of five empirical studies dealing with applications of the general equilibrium models.
Dynamic Economic Theory, Paperback (September 2009)
This book devolops multi-sector general equilibrium theory in the tradition of Hicks's Value and Capital.
Collaborative Development in Northeast Asia, Hardback (October 2000)
This work is concerned with an imaginary world as Joseph A. Schumpter was in "Capitalism, Socialism and Democracy". It explicitly assumes that both "politicians" and "entrepreneurs" are active in making innovations in the political and business worlds respectively.
Japan at Deadlock, Hardback (August 2000)» View all books by Michio Morishima
Since the beginning of the 1990s, Japan's economy has been in decline. This change is investigated through a variety of standpoints, using an in-depth knowledge of the Japanese ethos, national history, educational background, as well as the sociology of the Japanese economy and business world.
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