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

Smolny, Dr. Werner

 
9783790807127: 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
ISBN 10: 3790807125 ISBN 13: 9783790807127
Verlag: Springer, 1993

Inhaltsangabe

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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Verlag
Springer
Erscheinungsdatum
1993
Sprache
Englisch
ISBN 10 
3790807125
ISBN 13 
9783790807127
Einband
Taschenbuch
Anzahl der Seiten
252
Kontakt zum Hersteller
Nicht verfügbar
Verantwortliche Person
Nicht verfügbar

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9780387914589: 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)

Vorgestellte Ausgabe

ISBN 10:  0387914587 ISBN 13:  9780387914589
Verlag: Springer Verlag, 1993
Softcover