Disequilibrium, growth and labor market dynamics: macro perspectives ; with 23 ... tables
Saved in:
| Format: | Book |
|---|---|
| Language: | English |
| Published: |
Berlin ; Heidelberg ; New York ; Barcelona ; Hong Kong ; London
Springer
2000
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Literaturverz. S. 467 - 480 |
| Physical Description: | X, 480 S. graph. Darst. : 24 cm |
| ISBN: | 3540649093 |
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MARC
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| 245 | 1 | 0 | |a Disequilibrium, growth and labor market dynamics |b macro perspectives ; with 23 ... tables |c Carl Chiarella ... |
| 264 | 1 | |a Berlin ; Heidelberg ; New York ; Barcelona ; Hong Kong ; London |b Springer |c 2000 | |
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| 500 | |a Literaturverz. S. 467 - 480 | ||
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| 650 | 4 | |a Ökonometrisches Modell | |
| 650 | 4 | |a Economic development | |
| 650 | 4 | |a Equilibrium (Economics) | |
| 650 | 4 | |a Labor market |x Econometric models | |
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Record in the Search Index
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| adam_text | Contents
1 Introduction: Integrated Macrodynamics 1
1 An Overview on Foundations and Perspectives
2 Disequilibrium, Growth and Labor Market Dynamics: Foundations 13
2.1 Introduction 13
2.2 Effective demand, employment and nominal adjustments 13
2.2.1 Textbook IS LM PC modeling 14
2.2.2 Keynesian IS LM PC analysis 15
2.2.3 Reinterpreting the IS LM PC dynamics 18
2.3 Goods market disequilibrium and quantity adjustments 23
2.3.1 An early modeling of the trade cycle 25
2.3.2 Metzlerian inventory dynamics 33
2.4 Labor market and real wage dynamics 41
2.4.1 The Goodwin growth cycle model 41
2.4.2 Debt deflation and adverse real wage adjustment 48
2.5 Labor market, two Phillips curves and nominal adjustments 52
3 Disequilibrium, Growth and Labor Market Dynamics: Synthesis and Per¬
spectives 61
3.1 Introduction 61
3.2 The working KMG model of fluctuating growth 62
3.3 Integrated macrodynamics in an open economy 75
3.4 Microfoundations and macromechanisms 86
3.5 Macroeconometric model building 96
3.5.1 The national accounts of the model 97
3.5.2 The implied CTD growth model 101
3.5.3 The 18D core dynamics 103
viii
3.5.4 Numerical investigations 106
3.6 Summary and outlook Ill
3.7 Appendices 113
3.7.1 Notation 113
3.7.2 The working model in extensive form 114
II The Working Model: Walrasian, Non Walrasian and New
Keynesian Reformulations
4 Flex Price Approaches: Exceptional Limit Cases? 123
4.1 Introduction 123
4.2 Sluggish adjustments: An extended KMG reference case 124
4.3 Substitution and endogenous technical change 134
4.4 Market clearing: Classical real and dichotomizing nominal dynamics? . . . 143
4.5 Market clearing: Walrasian reformulation and saddle point stability .... 153
4.6 KMG equilibrium growth 168
4.7 Summary 178
4.8 Appendix: Labor market dynamics and classical viability 180
5 Fix Price Approaches: Regime Switching Overstated 189
5.1 Introduction 189
5.2 A Non Walrasian model of monetary growth 191
5.3 From Non Walrasian to Keynesian modeling of monetary growth 196
5.4 Regime switching in KMG growth 201
5.4.1 Supply bottlenecks with positive inventories 201
5.4.2 Exhausted inventories and excessive aggregate demand 212
5.4.3 Numerical analysis 216
5.5 Summary 222
5.6 Solow and Stiglitz (1968): An early Non Walrasian contribution 223
6 Market Imperfections: Basic Integration and Comparison 229
6.1 Introduction 229
6.2 A discrete time KMG reference case 232
6.3 Imperfect competition: Given income distribution 247
6.3.1 Revising the wage price module of KMG growth 250
6.3.2 The 2D stagflation subdynamics: Local analysis 255
ix
6.3.3 Global characteristics of the 2D case 258
6.3.4 Kinked Phillips curves: 2D analysis 260
6.3.5 4D and 6D extensions of the 2D stagflation dynamics 265
6.4 Imperfect competition: Adjusting income distribution 271
6.4.1 Marked up marginal wage costs 272
6.4.2 Profit share targets 277
6.4.3 Markup adjustments 281
6.5 Summary 283
III The Perspective: Theoretical Aspects of Modern Macro
econometric Model Building
7 Applied Disequilibrium Growth Theory 289
7.1 Introduction 289
7.2 A general framework for modeling disequilibrium growth 293
7.2.1 The assumed structure of the economy 293
7.2.2 The structure from the viewpoint of national accounting 297
7.2.3 Aggregate concepts from the system of national accounts 303
7.3 Households 305
7.4 Firms 317
7.5 Government and the monetary authority 323
7.6 Quantity and price adjustment 325
7.7 Asset market dynamics 330
7.8 The foreign sector 332
7.9 A summing up 334
7.10 Macroeconometric model building of the AS AD type: A brief comparison 338
7.11 Appendix A: Notation 346
7.12 Appendix B: Representing technology by nested CES / CET production
functions 349
8 Intensive Forms and Steady State Calculations 353
8.1 Introduction 353
8.2 The real and the financial structure of the economy 356
8.2.1 The real sector 356
8.2.2 The financial sector 358
8.2.3 National accounting 359
X
8.3 Intensive form of the implied 39D dynamics 366
8.4 Steady state calculations 374
8.5 Simplifying assumptions 382
8.6 Intensive form of the implied 22D dynamics 384
8.7 The steady state solution of the 22D dynamics 393
8.8 Concluding observations 401
9 Ways Ahead: Analyzing Structural Macroeconometric Model Building 405
9.1 Introduction 405
9.2 Further simplifying assumptions 406
9.3 The 18D core dynamics of the model 409
9.3.1 The laws of motion 409
9.3.2 Static relationships 412
9.4 Steady state analysis 414
9.4.1 Steady state equations 414
9.4.2 Steady state comparisons 417
9.5 Subsystem analysis and switch oif/on methodology: Some examples .... 418
9.5.1 The 9D real part of the economy 418
9.5.2 A 5D KMG type subdynamics 421
9.5.3 The 5D dynamics with a housing sector 424
9.5.4 The 5D dynamics with Rose goods market effects 424
9.5.5 Nominal dynamics in the real part of the economy 425
9.5.6 The integrated real dynamics of the economy 426
9.6 Adding policy issues to the real dynamics 428
9.6.1 Interest rate policy rules 428
9.6.2 Fiscal policy rules 430
9.6.3 Fiscal and monetary policy rules in interaction 433
9.7 Adding asset price dynamics to the real dynamics 435
9.7.1 Independent bond market dynamics and the real economy 435
9.7.2 Adding exchange rate dynamics to the bond market dynamics . . . 435
9.7.3 Asset markets and real markets: One way routes and interactions . 437
9.8 Numerical investigations of the full 18D dynamics 440
9.9 The Fair model for the US economy 454
9.10 Conclusions and outlook 465
References 467
|
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| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 331 - Labor economics |
| dewey-raw | 331.12 |
| dewey-search | 331.12 |
| dewey-sort | 3331.12 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
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| id | DE-604.BV013038769 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T18:38:05Z |
| institution | BVB |
| isbn | 3540649093 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-008883254 |
| oclc_num | 215881004 |
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| physical | X, 480 S. graph. Darst. : 24 cm |
| publishDate | 2000 |
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| publisher | Springer |
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| spelling | Disequilibrium, growth and labor market dynamics macro perspectives ; with 23 ... tables Carl Chiarella ... Berlin ; Heidelberg ; New York ; Barcelona ; Hong Kong ; London Springer 2000 X, 480 S. graph. Darst. : 24 cm txt rdacontent n rdamedia nc rdacarrier Literaturverz. S. 467 - 480 Wirtschaftsentwicklung Ökonometrisches Modell Economic development Equilibrium (Economics) Labor market Econometric models Ungleichgewichtstheorie (DE-588)4061738-5 gnd rswk-swf Dynamische Makroökonomie (DE-588)4200428-7 gnd rswk-swf Arbeitsmarkt (DE-588)4002733-8 gnd rswk-swf Dynamische Makroökonomie (DE-588)4200428-7 s Ungleichgewichtstheorie (DE-588)4061738-5 s DE-604 Arbeitsmarkt (DE-588)4002733-8 s Chiarella, Carl 1944-2016 Sonstige (DE-588)121195724 oth HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=008883254&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Disequilibrium, growth and labor market dynamics macro perspectives ; with 23 ... tables Wirtschaftsentwicklung Ökonometrisches Modell Economic development Equilibrium (Economics) Labor market Econometric models Ungleichgewichtstheorie (DE-588)4061738-5 gnd Dynamische Makroökonomie (DE-588)4200428-7 gnd Arbeitsmarkt (DE-588)4002733-8 gnd |
| subject_GND | (DE-588)4061738-5 (DE-588)4200428-7 (DE-588)4002733-8 |
| title | Disequilibrium, growth and labor market dynamics macro perspectives ; with 23 ... tables |
| title_auth | Disequilibrium, growth and labor market dynamics macro perspectives ; with 23 ... tables |
| title_exact_search | Disequilibrium, growth and labor market dynamics macro perspectives ; with 23 ... tables |
| title_full | Disequilibrium, growth and labor market dynamics macro perspectives ; with 23 ... tables Carl Chiarella ... |
| title_fullStr | Disequilibrium, growth and labor market dynamics macro perspectives ; with 23 ... tables Carl Chiarella ... |
| title_full_unstemmed | Disequilibrium, growth and labor market dynamics macro perspectives ; with 23 ... tables Carl Chiarella ... |
| title_short | Disequilibrium, growth and labor market dynamics |
| title_sort | disequilibrium growth and labor market dynamics macro perspectives with 23 tables |
| title_sub | macro perspectives ; with 23 ... tables |
| topic | Wirtschaftsentwicklung Ökonometrisches Modell Economic development Equilibrium (Economics) Labor market Econometric models Ungleichgewichtstheorie (DE-588)4061738-5 gnd Dynamische Makroökonomie (DE-588)4200428-7 gnd Arbeitsmarkt (DE-588)4002733-8 gnd |
| topic_facet | Wirtschaftsentwicklung Ökonometrisches Modell Economic development Equilibrium (Economics) Labor market Econometric models Ungleichgewichtstheorie Dynamische Makroökonomie Arbeitsmarkt |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=008883254&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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