Overview

This book is unique. It gives a clear and systematic account of the economic basis of every equation in a major 100-equation macro model, plus full documentation of parameters and simulation properties. Results are explained in detail with the help of miniature models that capture the important macrodynamics as well as the steady-state properties of the model. Microeconomic underpinnings are stressed throughout. This book will be particularly useful to practitioners of policy economics and forecasting, as well as to upper-level undergraduate and graduate students in economics and econometrics.

Full Product Details

Author:   Alan A. Powell ,  Christopher W. Murphy
Publisher:   Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
Imprint:   Springer-Verlag Berlin and Heidelberg GmbH & Co. K
Edition:   2nd rev. and enlarged ed. 1997
Dimensions:   Width: 15.50cm , Height: 2.60cm , Length: 23.50cm
Weight:   1.870kg
ISBN:  

9783540631460

ISBN 10:   3540631461
Pages:   455
Publication Date:   19 August 1997
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   In Print  
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Table of Contents

1 — Setting the Scene.- 1 How to Use this Book.- 2 Distinguishing Features of MM.- 3 Principal Mechanisms in MM.- 2 — Structural Form of MM.- 4 Overview of Part Two.- 5 Wage Behaviour.- 6 Labour Force Participation.- 7 Private Consumption Behaviour.- 8 Behaviour of the Rental Price of Housing.- 9 Production of Housing Rental Services and Investment in Dwellings.- 10 The Enterprise Production Block of the Business Sector.- 11 Business Fixed Investment.- 12 Business Sector Employment.- 13 Import Supply and Demand.- 14 Aggregate Export Supply.- 15 Disaggregation of Export Supply.- 16 Overseas Demand for ‘Commodity’ Exports.- 17 Inventory Investment in ‘Commodity’ Exports.- 18 Demand for Non-‘Commodity’ Exports.- 19 Domestic Good Inventory Investment.- 20 Price Dynamics for the Domestic Good.- 21 Sales of the Domestic Good; Miscellaneous Identities for Investment and Capital.- 22 The Government Sector.- 23 Financial Markets.- 24 National-Accounting, Stock-Flow and Miscellaneous Identities.- 3 — Simulations with MM.- 25 Introduction to the Simulations.- 26 Monetary Shocks.- 27 A Fiscal Shock.- 4 — New Horizons.- 28 MM2 — A Fully Integrated Macro-CGE Model.- References.- Author and Personal Names Index.- Tables.- Figures.- Exercises.

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