Overview

This book is concerned with applying the theory of international trade and international capital movements to historical monthly data on external and internal prices, in order to study the mode of international transmission of price changes at a fairly detailed level of disaggregation of commodities into some 20 or 30 groups. The data used are from the few countries that have long series of monthly price indices, such as Germany and Sweden as well as Korea. The econometric methodology includes the estimation of distributed lags and the methodology of optimal aggregation of commodities into groups. The book combines the knowledge of many-commodity many-factor theory of international trade along the Lerner-Samuelson line with the knowledge of econometric techniques such as distributed-lag estimation and optimal aggregation. Major topics addressed include the role of intra-industry trade and the effects of international capital movements on sectoral prices.

Full Product Details

Author:   John Chipman
Publisher:   World Scientific Publishing Co Pte Ltd
Imprint:   World Scientific Publishing Co Pte Ltd
ISBN:  

9789814295079

ISBN 10:   9814295078
Pages:   460
Publication Date:   28 February 2017
Audience:   College/higher education ,  Postgraduate, Research & Scholarly
Format:   Hardback
Publisher's Status:   Unknown
Availability:   Awaiting stock  

Table of Contents

The Aggregation Problem in Econometrics; Statistical Problems Arising in the Theory of Aggregation; Towards the Construction of an Optimal Aggregative Model of International Trade: West Germany, 1963-1975; Internal-External Price Relationships in the West German Economy, 1958-1979; Dynamic Adjustment of Internal Prices to External Price Changes, Federal Republic of Germany, 1958-1979; An Application of Rank-Reduced Distributed-Lag Estimation by Spline Functions; Testing for Reduction of Mean-Square Error by Aggregation in Dynamic Econometric Models; Relative Prices, Capital Movements, and Sectoral Technical Change: Theory and an Empirical Test; Estimation of Net-Import Demand Functions for the Federal Republic of Germany, 1959-1982; A General-Equilibrium Econometric Model of an Open Economy - With Special Reference to the Phenomenon of Intra-Industry Trade; A General-Equilibrium Intertemporal Model of an Open Economy; Intra-Industry Trade, Factor Proportions, and Aggregation; Intra-Industry Trade in a Loglinear Model; Estimating Price Responses of German Imports and Exports; The Stolper-Samuelson Theorem and the Problem of Aggregation; Optimal Industrial Classification; Interpolation of Economic Time Series, with Application to German and Swedish Data; Optimal Industrial Classification by Threshold Accepting; Optimal Aggregation in Linear Time Series Models; Optimal Aggregation in a Model of International Transmission of Price Changes: An Application to the German Classification System;

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