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Dynamic Factor Demand in a Rationing Context: Theory and Estimation of a Macroeconomic Disequilibrium Model for the Federal Republic of Germany (Studies in Contemporary Economics) - Softcover
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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.
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Dynamic Factor Demand in a Rationing Context : Theory and Estimation of a Macroeconomic Disequilibrium Model for the Federal Republic of Germany
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Dynamic Factor Demand in a Rationing Context (Paperback)
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Springer-Verlag Berlin and Heidelberg GmbH & Co. KG, Heidelberg, 1993
ISBN 10: 3790807125
ISBN 13: 9783790807127
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Paperback. Condition: new. Paperback. A macroeconomic disequilibrium model is developed for the Federal Republic of Germany. Starting with a microeconomic model of a firm's behaviour, the optimal dynamic adjustment of employment and investment is derived. The model of the firm is complemented by an explicit aggregation procedure from which it derives 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, especially for the persistence of high unemployment in the 1980s. A macroeconomic disequilibrium model is developed for theFederal Republic of Germany. Starting with a microeconomicmodel of firm's behaviour, the optimal dynamic adjustment ofemployment and investment is derived. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Seller Inventory # 9783790807127
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Dynamic Factor Demand in a Rationing Context: Theory and Estimation of a Macroeconomic Disequilibrium Model for the Federal Republic of Germany (Studies in Contemporary Economics)
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Dynamic Factor Demand in a Rationing Context : Theory and Estimation of a Macroeconomic Disequilibrium Model for the Federal Republic of Germany
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Dynamic Factor Demand in a Rationing Context: Theory and Estimation of a Macroeconomic Disequilibrium Model for the Federal Republic of Germany (Studies in Contemporary Economics)
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Dynamic Factor Demand in a Rationing Context
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Physica-Verlag, Physica-Verlag HD, Physica Sep 1993, 1993
ISBN 10: 3790807125
ISBN 13: 9783790807127
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Taschenbuch. Condition: Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -A macroeconomic disequilibrium model is developed for theFederal Republic of Germany. Starting with a microeconomicmodel of firm's behaviour, the optimal dynamic adjustment ofemployment and investment is derived. The model of the firmis complemented by an explicite aggregation procedure whichallows to derive macroeconomic relations. The model isestimated with macroeconomic data for the Federal Republicof Germany.An important feature is the consistent introduction ofdynamic adjustment into a model of the firm. A new method isthe particular approach of a delayed adjustment ofemployment and investment.The estimation results show significant underutilizations oflabour and capital and indicate the importance of supplyconstraints for imports and exports. As the most prominentresult, they reveal the importance of the slow adjustment ofemployment and investment for the macroeconomic situation inGermany and especially for the persistence of highunemployment in the eighties. 242 pp. Englisch. Seller Inventory # 9783790807127
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Dynamic Factor Demand in a Rationing Context
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Dynamic Factor Demand in a Rationing Context
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Condition: New. Dieser Artikel ist ein Print on Demand Artikel und wird nach Ihrer Bestellung fuer Sie gedruckt. A macroeconomic disequilibrium model is developed for theFederal Republic of Germany. Starting with a microeconomicmodel of firm s behaviour, the optimal dynamic adjustment ofemployment and investment is derived. The model of the firmis complemented. Seller Inventory # 5309818
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Dynamic Factor Demand in a Rationing Context
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Dynamic Factor Demand in a Rationing Context
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