Towards Operational Disequilibrium Macro Economics

Most re cent contributions to disequilibrium theory have a high level of abstraction.


Author: J.C. Siebrand

Publisher: Springer Science & Business Media

ISBN: 9789401735612

Category: Business & Economics

Page: 169

View: 244

Most re cent contributions to disequilibrium theory have a high level of abstraction. Empirical studies explicitly based on disequilibrium are still relatively scarce. However, empirical macro economics anticipated the theoretical development, and amalgamated classical and Keynesian elements often without a clear-cut formal base. Now a theoretical integration of neo-classical and neo-Keynesian economics seems under way. There is a renewed interest in the micro-economic foundations of macroeconomics with a special focus on the behaviour of economic agents operating in non-clearing markets. In some instances these theoretical developments offer an ex post justification for empirical macro-economic practices. Generally however, they call for new ways of empirical macro-economic model building. This study operates on the border line between empirical macro economics and theoretical disequilibrium macro-economic theory. Our interest in macro-economic disequilibrium originates from the empirical side. Foreign trade relations for several countries revealed significant pressure of demand effects. Hence, the spillover of excess demand in domestic markets to foreign markets seemed a rather general phenomenon. This fact could be explained by a theory that states that actual demand for products from domestic ftrms will gene rally and systematically differ from the ex ante demand as suggested by equilibrium analysis. This latter demand concept comes close to Clower's 'notional demand' and Patinkin's 'potential demand'.

The Econometrics of Disequilibrium Models

Employment , Labour Supply and Real Wages in Market Disequilibrium , " Journal of Macroeconomics 3 , 335-54 . Siebrand , J. C. ( 1979 ) . Towards Operational Disequilibrium Macro Economics ( The Hague : Martin Nijhoff ) .


Author: Vijay Kumar Lal Srivastava

Publisher: Greenwood Publishing Group

ISBN: 0313268983

Category: Business & Economics

Page: 187

View: 868

This work is an accessible examination of the nature of various estimation methods written for those who have limited knowledge of economic theory. Some of the relatively simple methods can be implemented by using existing software packages. It reviews the Walrasian general equilibrium theory, compares the two genuine alternative frameworks for analyzing economic phenomena, and aids in establishing a necessary methodological consistency between analytical philosophy and the estimation methods in applied work on disequilibrium economics.

Macroeconomics An Introduction to the Non Walrasian Approach

European Economic Review 17, 27–50. Schulz, N. (1983). On the global uniqueness of fixprice equilibria. Econometrica 51, 47–68. Siebrand, J. C. (1979). Towards Operational Disequilibrium Macro Models. Nijhoff, The Hague.


Author: Jean-Pascal Benassy

Publisher: Academic Press

ISBN: 9781483268460

Category: Business & Economics

Page: 264

View: 420

Macroeconomics: An Introduction to the Non-Walrasian Approach provides the approach to macroeconomic theory based on the non-Walrasian method. This book presents the microeconomic concepts that can be applied in a simple and relevant manner to the fundamental topics of macroeconomic theory. Organized into five parts encompassing 14 chapters, this book begins with an overview of the fundamental concepts, describing the functioning of nonclearing markets, the role of expectations, the setting of prices by decentralized agents, and the derivation of optimal demand and supplies. This text then studies various non-Walrasian equilibrium concepts. Other chapters compare the classical and Keynesian theories of unemployment in the framework of a model. This book discusses as well the asymmetric price flexibility into the basic model. The final chapter deals with a dynamic model with explicit expectations, which allows a comparison of the employment effects of various expectations schemes and their realism. This book is a valuable resource for economists.

Disequilibrium Macroeconomic Models

Sato , K. ( 1975 ) , Production function and aggregation , Contributions to Economic Analysis , V. 90 , North - Holland , New York . Siebrand , J. C. ( 1979 ) , Towards operational disequilibrium macroeconomics , Martinus Nijhoff ...


Author: Jean-Paul Lambert

Publisher: CUP Archive

ISBN: 052132209X

Category: Business & Economics

Page: 177

View: 257

Plans and Disequilibria in Centrally Planned Economies

Portes, R., R. E. Quandt, D. Winter and S. Yeo (1983), Macroeconomic planning and disequilibrium: estimates for Poland ... Siebrand, J. C. (1979), Towards operational disequilibrium macroeconomics (Martinus Nijhoff, The Hague).


Author: W. Charemza

Publisher: Elsevier

ISBN: 9781483297477

Category: Business & Economics

Page: 198

View: 357

The purpose of this study is to investigate interrelations between planning mechanisms and disequilibria in a case where the planning decisions are centralized and are exogenously given to enterprises. The first introductory chapter is intended to provide an understanding of Poland's economic situation during the period under research. In the next five chapters the basic model, describing the households-planners relations in terms of consumption, labour, money and plans are derived, estimated, used for calculation of excess demands, for simulation of some monetary policies, and, finally, for providing optimal control experiments in which consumption excess demand is minimized on a reasonable level of the consumption volume. In the next two chapters the basic model is gradually extended, and the last chapter summarizes the results by formulating a more effective macroeconomic policy.

Current Developments in the Interface Economics Econometrics Mathematics

... disequilibrium analysis of the labour market", Rotterdam University Press, Rotterdam, 1976, and J.C. Siebrand, "Towards operational disequilibrium macroeconomics", Martinus Nijhoff, The Hague, Boston, London, 1979.


Author: Michiel Hazewinkel

Publisher: Springer Science & Business Media

ISBN: 9789400979338

Category: Business & Economics

Page: 352

View: 884

This book contains the Proceedings of a symposium that was held in Rotterdam from 12 to 15 January 1982 to celebrate the 25-th anniversary of the Econometric Institute of the Erasmus University. The subject of the symposium, developments in econometrics and related fields, was particularly appropriate for the occasion. In 25 years the research carried out at the Econometric Institute developed from the original seminal work in econometrics, carried out under the supervision of the first director H. Theil, to embrace related areas such as mathematical economics, operations research, systems theory and other branches of mathematics, statistics and probability theory. To review the state of the art in these areas, thirteen leading experts were invited to deliver a lecture at the symposium; their contributions form .the backbone of this book. Together, they illustrate the wide range and scope of the current scientific activity in these fields. The thirteen authoritative surveys should be of great value to researchers and students alike, who want to become acquainted with recent ideas, current trends and future developments in their chosen fields of interest. Each contribution is preceded by an introduction to the author and his work and followed by a summary of the discussion that followed the lecture. A special chapter is devoted to the history of the Econometric Institute.

Econometric Modelling in Theory and Practice

Riley, J.G. (1975), Competitive signalling', Journal of Economic Theory, 10, 175–186. 38. Rosen S. (1974), Hedonic prices ... Siebrand, J.C. (1979), Towards Operational Disequilibrium Macro-Economics, Martinus Nijhoff, The Hague. 44.


Author: J.E.J. Plasmans

Publisher: Springer Science & Business Media

ISBN: 9789400974821

Category: Business & Economics

Page: 234

View: 802

Proceedings of a Franco-Dutch Conference held at Tilburg University, April 1979

Theory and Practice of International Trade Linkage Models

SIEBRAND, J.C. (1972), "Potential demand and external trade", De Economist, 120 : 260-295. SIEBRAND, J.C. (1979), Towards operational disequilibrium macro economics, Martinus Nijhoff, The Hague. SIEGEL, S. (1956), Nonparametric ...


Author: A. Italianer

Publisher: Springer Science & Business Media

ISBN: 9789400944725

Category: Business & Economics

Page: 408

View: 997

This book was mainly written while I stayed at the Catholic University of Louvain. Professor Anton P. Barten was the one who did not only give me a warm welcome in Louvain, but also supported my research with most valuable comments and constructive criticisms. In addition I benefitted from dis cussions with Erik Schokkaert, Denis de Crombrugghe and Jo Baras on various subjects, such as the small-sample correction of Chapter 9. The arduous task of transferring my neat handwriting into a readable typescript was excellently taken care of by Brs. E. Crabbe and notably Brs. F. Duij sens, even after working hours. Mrs. A. Molders prevented me of making serious abuse of the English language. My admiration for Carien, finally, is an exponential function of the patience and enthusiasm with which she sup ported my research. Chapter I is a general introduction to the subject of linkage models, and it contains few mathematical elaborations. Chapters 2 to 4 use more, but elementary, mathematics, and treat several aspects related to the deriva tion, interpretation and estimation of linkage models. Chapter 2 deals vii tll the theory of import allocation models, Chapter J treats the problem of defining and interpreting elasticities of substitution, while Chapter 4 is concerned with the econometric problems related to the estimation of mul tivariate models with linear restrictions, such as import allocation models.

Microsimulation Modelling of the Corporate Firm

Exploring Micro-Macro Economic Relations Frank W. van Tongeren. Riet, A.G. van (1987), ... Siebrand, J.C. (1979), Towards operational disequilibrium macro models, The Hague, Martinus Nijhoff. Silverberg, G. (1987), Technical progress, ...


Author: Frank W. van Tongeren

Publisher: Springer Science & Business Media

ISBN: 9783642520686

Category: Business & Economics

Page: 278

View: 155

My interest in microsimulation started to develop when I was exposed to the works of Guy Orcutt and his associates on microsimulation of households in the USA, and those of Gunnar Eliasson and his associates on simulatio~ of Swedish firms. Their approaches promised the exciting possibility to represent an by simulating the behaviour of individual microeconomic entire economic system units on a computer. The construction of a large scale microsimulation model seemed to be a worthwhile adventure which could yield much more detailed results than existing models. It was also evident that microsimulation of firms is a relatively underdeveloped area, in spite of the large number of operational microsimulation models of households in the USA and Europe. Developing the computer implementation has been an integral part of the research. Translating initially vague ideas into mathematical formulae and subsequently into a structured computer language provides a testing ground for 10Bical consistency of ideas. When writing this book I have purposefully abstained from describing the computer program and dedicated solution algorithms. The reason is that the book is primarily directed towards readers interested in economics and therefore uses the language of economics and not that of computer science. The simulation model has been programmed for the personal computer in Turbo Pascal. Sophisticated memory management techniques have lifted constraints on the number of firms which can be simulated on the PC.

Key to Economic Science and Managerial Sciences

79 10 308 Mue 338.5.01 PRICE THEORIES / MACRO ECONOMICS / FOREIGN TRADE THEORY / EMPLOYMENT / NETHERLANDS . Siebrand , J.C./ Towards operational disequilibrium macro economics . Netherlands , The Hague , Nijhoff , 1979. 181p . A5 Bibl .




ISBN: PSU:000049869040

Category: Economics


View: 707

Semi-monthly review (with annual indexes) of abstracts on economics, finance, trade, industry, foreign aid, management, marketing, labour.