The Working of Econometric Models

Front Cover
Cambridge University Press, Nov 30, 1972 - Business & Economics - 339 pages
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.
 

What people are saying - Write a review

We haven't found any reviews in the usual places.

Contents

III
3
IV
5
V
25
VI
47
VII
71
IX
73
X
76
XI
96
XVIII
216
XIX
241
XX
243
XXI
256
XXII
270
XXIII
288
XXIV
301
XXV
303

XII
117
XIII
145
XIV
147
XV
149
XVI
156
XVII
181
XXVI
306
XXVII
318
XXVIII
330
XXIX
337
Copyright

Other editions - View all

Common terms and phrases

Bibliographic information