Dynamic Factor Demand in a Rationing Context

Name: Dynamic Factor Demand in a Rationing Context
Brand: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
SKU: 9783790807127
Price: 99.88 EUR
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Theory and Estimation of a Macroeconomic Disequilibrium Model for the Federal Republic of Germany

Autor: Werner Smolny

Jazyk:

Väzba: Brožovaná

Vydavateľ: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG

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A macroeconomic disequilibrium model is developed for the§Federal Republic of Germany. Starting with...

Informácie o knihe

Autor

Werner Smolny

Jazyk

Angličtina

Väzba

Kniha - Brožovaná

Vydalo

1993

Stránok

242

EAN

9783790807127

ISBN

3790807125

Enbook ID

05291539

Vydavateľ

Springer-Verlag Berlin and Heidelberg GmbH & Co. KG

Hmotnosť

395

Rozmery

155 x 235 x 16

Kompletný popis

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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Dynamic Factor Demand in a Rationing Context

Theory and Estimation of a Macroeconomic Disequilibrium Model for the Federal Republic of Germany

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