The contribution of disequilibrium models to applied macroeconomics: A critical evaluation for the United Kingdom
Başlık:
The contribution of disequilibrium models to applied macroeconomics: A critical evaluation for the United Kingdom
Yazar:
Walters, Bernard R., author.
ISBN:
9780438083417
Yazar Ek Girişi:
Fiziksel Tanımlama:
1 electronic resource (286 pages)
Genel Not:
Source: Dissertation Abstracts International, Volume: 76-08C.
Özet:
Disequilibrium models have been directed towards two objectives: the provision of rigorous foundations for macroeconomics and the extension of the Keynesian model to incorporate supply influences. The first objective is argued to be unattainable in principle and, therefore, to be unable to provide a realistic standard of evaluation. Evaluation should be in terms of the second objective. The extension of the solution structure of the Keynesian model has provided a range of useful insights but the contribution of this approach to applied macroeconomics must follow from how well these insights can be incorporated into models which are empirically tractable. For this reason a number of models from this tradition are explored against UK data. The Sneesens-Dreze employment model is estimated and found to be congruent with the data. The predictions from this approach are compared with a number of alternative market clearing models of employment determination and found to dominate these alternatives. A model based on the idea of smoothing by aggregation is used to incorporate survey data and found to provide sensible estimates of labour demand and supply. It is concluded that this approach can provide tractable models with results as good as, if not superior to alternatives. The approach can make a useful contribution to applied macroeconomics.
Notlar:
School code: 1543
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Yer Numarası | Demirbaş Numarası | Shelf Location | Lokasyon / Statüsü / İade Tarihi |
---|---|---|---|
XX(686876.1) | 686876-1001 | Proquest E-Tez Koleksiyonu | Arıyor... |
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