Quantitative economic policy: essays in honour of Andrew Hughes Hallett
Saved in:
| Format: | Book |
|---|---|
| Language: | English |
| Published: |
Berlin [u.a.]
Springer
2008
|
| Series: | Advances in computational economics
20 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XVIII, 376 S. |
| ISBN: | 9783540746836 3540746838 |
Staff View
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Record in the Search Index
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| adam_text |
Contents
List of Contributors
.xv
Quantitative Economic Policy
-
Theory and Applications:
Introduction and Overview
.1
Reinhard Neck,
Christian
Richter
and Peter Mooslechner
1
Andrew Hughes Hallett at sixty
.1
2
The theory of quantitative economic policy and its applications
.2
3
The challenge of policy coordination in the EMU and beyond
.4
4
Overview of the contributions to the Festschrift
.8
5
Concluding remarks
.13
References
.13
Theory of Quantitative Economic Policy
Towards a New Theory of Economic Policy: Continuity and
Innovation
.15
Nicola Acocella and Giovanni
Di Bartolomeo
1
Introduction
.15
2
The Tinbergen-Theil approach and the Lucas critique
.16
2.1
The classical approach to the theory of economic policy
.16
2.2
Critique of the classical theory of economic policy
.18
2.3
Policy games and the neutrality proposition
.18
3
Towards a "new" theory
.20
3.1
Two fundamental propositions
.20
3.2
Extensions
.22
4
Conclusions
.23
Appendix
.24
A.I The static case
.24
A.2 The dynamic case
.27
Acknowledgement
.30
References
.31
viii Contents
If the Representative Agent is Used, Should He Be Believed?
Aggregation, Welfare and the Role of
Microfoundations
in
Quantitative Economic Policy
.35
John Lewis
1
Introduction
.35
2
Unrealistic assumptions in economics
.37
3
Assumption creep
.41
4
The problem of appraisal
.44
5
Conclusion
.47
Disclaimer
.48
References
.48
Time Consistency,
Subgame
Perfectness, Solution Concepts and
Information Patterns in Dynamic Models of Stabilization Policies
.51
Engelbert
J.
Dockner
and
Reinhard Neck
1
Introduction
.51
2
The analytical framework
.52
2.1
A dynamic model of decentralized stabilization policies
.52
2.2
Solution concepts and properties of equilibrium solutions
.57
3
Open-loop equilibrium solutions
.65
3.1
The open-loop Nash equilibrium solution
.65
3.2
The open-loop Stackelberg equilibrium solution
.66
3.3
(Open-loop) Pareto solutions
.69
4
Feedback equilibrium solutions
.72
4.1
The feedback Nash equilibrium solution
.72
4.2
The feedback Stackelberg equilibrium solution
.75
4.3
Some remarks on the "Cohen-Michel solution"
.76
5
A numerical example
.78
6
Concluding remark
.82
Appendix
.83
A.I Proof of Theorem
1.83
A.2 Proof of Theorem
2.87
A.3 Proof of Theorem
3.92
A.4 Proof of Theorem
5.94
A.5 Proof of Theorem
6.96
A.6 Proof of Theorem
7.97
Acknowledgement
.99
References
.99
Contents ix
Models
of Endogenous Coalition Formation Between Fiscal and
Monetary Authorities in the Presence of a Monetary Union
.103
Tomasz
Michalak, Jacob Engwerda, Joseph
Plasmans,
Bas
van Aarle and
Giovanni
Di Bartolomeo
1
Introduction
.103
2
Basic definitions and notation
.105
2.1
Per-membership partition function
.107
2.2
Externalities from coalition formation
.108
3
Simultaneous games
-
MU setting
.109
3.1
Open-membership game
.109
3.2
Restricted open-membership game
.111
3.3
Exclusive-membership game for an MU
.112
3.4
Relations between the
OMG(MU),
the
ROMG(MU)
and the
EMG(MU)
.114
4
Sequential negotiation game
.114
5
Social optimum and indices
.117
6
Aspects of policy coordination in EMU
.119
7
The basic economic framework
.122
8
Numerical solutions of the model
.123
8.1
Symmetric baseline model
.124
8.2
Structural asymmetric setting
.131
9
Concluding remarks
.133
References
.135
Fiscal Policy
Fiscal Federalism, Risk Sharing and the Persistence of Shocks
.137
Scott Davis
1
Introduction
.137
2
The model
.140
2.1
Preferences
.141
2.2
Production technology
.141
2.3
Resource constraints
.142
2.4
Shock process
.144
3
The results
.145
3.1
Consumption volatility arising from output volatility
.145
3.2
Pass through of output fluctuations to fluctuations in
consumption
.148
4
Summary and conclusions
.150
Appendix
.151 |
| adam_txt |
Contents
List of Contributors
.xv
Quantitative Economic Policy
-
Theory and Applications:
Introduction and Overview
.1
Reinhard Neck,
Christian
Richter
and Peter Mooslechner
1
Andrew Hughes Hallett at sixty
.1
2
The theory of quantitative economic policy and its applications
.2
3
The challenge of policy coordination in the EMU and beyond
.4
4
Overview of the contributions to the Festschrift
.8
5
Concluding remarks
.13
References
.13
Theory of Quantitative Economic Policy
Towards a New Theory of Economic Policy: Continuity and
Innovation
.15
Nicola Acocella and Giovanni
Di Bartolomeo
1
Introduction
.15
2
The Tinbergen-Theil approach and the Lucas critique
.16
2.1
The classical approach to the theory of economic policy
.16
2.2
Critique of the classical theory of economic policy
.18
2.3
Policy games and the neutrality proposition
.18
3
Towards a "new" theory
.20
3.1
Two fundamental propositions
.20
3.2
Extensions
.22
4
Conclusions
.23
Appendix
.24
A.I The static case
.24
A.2 The dynamic case
.27
Acknowledgement
.30
References
.31
viii Contents
If the Representative Agent is Used, Should He Be Believed?
Aggregation, Welfare and the Role of
Microfoundations
in
Quantitative Economic Policy
.35
John Lewis
1
Introduction
.35
2
Unrealistic assumptions in economics
.37
3
Assumption creep
.41
4
The problem of appraisal
.44
5
Conclusion
.47
Disclaimer
.48
References
.48
Time Consistency,
Subgame
Perfectness, Solution Concepts and
Information Patterns in Dynamic Models of Stabilization Policies
.51
Engelbert
J.
Dockner
and
Reinhard Neck
1
Introduction
.51
2
The analytical framework
.52
2.1
A dynamic model of decentralized stabilization policies
.52
2.2
Solution concepts and properties of equilibrium solutions
.57
3
Open-loop equilibrium solutions
.65
3.1
The open-loop Nash equilibrium solution
.65
3.2
The open-loop Stackelberg equilibrium solution
.66
3.3
(Open-loop) Pareto solutions
.69
4
Feedback equilibrium solutions
.72
4.1
The feedback Nash equilibrium solution
.72
4.2
The feedback Stackelberg equilibrium solution
.75
4.3
Some remarks on the "Cohen-Michel solution"
.76
5
A numerical example
.78
6
Concluding remark
.82
Appendix
.83
A.I Proof of Theorem
1.83
A.2 Proof of Theorem
2.87
A.3 Proof of Theorem
3.92
A.4 Proof of Theorem
5.94
A.5 Proof of Theorem
6.96
A.6 Proof of Theorem
7.97
Acknowledgement
.99
References
.99
Contents ix
Models
of Endogenous Coalition Formation Between Fiscal and
Monetary Authorities in the Presence of a Monetary Union
.103
Tomasz
Michalak, Jacob Engwerda, Joseph
Plasmans,
Bas
van Aarle and
Giovanni
Di Bartolomeo
1
Introduction
.103
2
Basic definitions and notation
.105
2.1
Per-membership partition function
.107
2.2
Externalities from coalition formation
.108
3
Simultaneous games
-
MU setting
.109
3.1
Open-membership game
.109
3.2
Restricted open-membership game
.111
3.3
Exclusive-membership game for an MU
.112
3.4
Relations between the
OMG(MU),
the
ROMG(MU)
and the
EMG(MU)
.114
4
Sequential negotiation game
.114
5
Social optimum and indices
.117
6
Aspects of policy coordination in EMU
.119
7
The basic economic framework
.122
8
Numerical solutions of the model
.123
8.1
Symmetric baseline model
.124
8.2
Structural asymmetric setting
.131
9
Concluding remarks
.133
References
.135
Fiscal Policy
Fiscal Federalism, Risk Sharing and the Persistence of Shocks
.137
Scott Davis
1
Introduction
.137
2
The model
.140
2.1
Preferences
.141
2.2
Production technology
.141
2.3
Resource constraints
.142
2.4
Shock process
.144
3
The results
.145
3.1
Consumption volatility arising from output volatility
.145
3.2
Pass through of output fluctuations to fluctuations in
consumption
.148
4
Summary and conclusions
.150
Appendix
.151 |
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| id | DE-604.BV022715935 |
| illustrated | Not Illustrated |
| index_date | 2024-07-02T18:28:28Z |
| indexdate | 2024-09-23T12:21:09Z |
| institution | BVB |
| isbn | 9783540746836 3540746838 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-015921719 |
| oclc_num | 233787211 |
| open_access_boolean | |
| owner | DE-355 DE-BY-UBR DE-703 DE-20 DE-M382 DE-945 DE-188 |
| owner_facet | DE-355 DE-BY-UBR DE-703 DE-20 DE-M382 DE-945 DE-188 |
| physical | XVIII, 376 S. |
| publishDate | 2008 |
| publishDateSearch | 2008 |
| publishDateSort | 2008 |
| publisher | Springer |
| record_format | marc |
| series | Advances in computational economics |
| series2 | Advances in computational economics |
| spelling | Quantitative economic policy essays in honour of Andrew Hughes Hallett Reinhard Neck ..., eds. Berlin [u.a.] Springer 2008 XVIII, 376 S. txt rdacontent n rdamedia nc rdacarrier Advances in computational economics 20 Mathematisches Modell Wirtschaftsentwicklung Econometrics Economic development Planning Mathematical models Quantitative Methode (DE-588)4232139-6 gnd rswk-swf Wirtschaftspolitik (DE-588)4066493-4 gnd rswk-swf Fiskalpolitik (DE-588)4071234-5 gnd rswk-swf Ökonometrie (DE-588)4132280-0 gnd rswk-swf Geldpolitik (DE-588)4019902-2 gnd rswk-swf (DE-588)4143413-4 Aufsatzsammlung gnd-content (DE-588)4016928-5 Festschrift gnd-content Wirtschaftspolitik (DE-588)4066493-4 s Quantitative Methode (DE-588)4232139-6 s DE-604 Fiskalpolitik (DE-588)4071234-5 s Ökonometrie (DE-588)4132280-0 s Geldpolitik (DE-588)4019902-2 s Neck, Reinhard 1951- Sonstige (DE-588)124914357 oth Hughes Hallett, Andrew 1947- (DE-588)124833969 hnr Advances in computational economics 20 (DE-604)BV023549942 20 Digitalisierung UB Regensburg application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015921719&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Quantitative economic policy essays in honour of Andrew Hughes Hallett Advances in computational economics Mathematisches Modell Wirtschaftsentwicklung Econometrics Economic development Planning Mathematical models Quantitative Methode (DE-588)4232139-6 gnd Wirtschaftspolitik (DE-588)4066493-4 gnd Fiskalpolitik (DE-588)4071234-5 gnd Ökonometrie (DE-588)4132280-0 gnd Geldpolitik (DE-588)4019902-2 gnd |
| subject_GND | (DE-588)4232139-6 (DE-588)4066493-4 (DE-588)4071234-5 (DE-588)4132280-0 (DE-588)4019902-2 (DE-588)4143413-4 (DE-588)4016928-5 |
| title | Quantitative economic policy essays in honour of Andrew Hughes Hallett |
| title_auth | Quantitative economic policy essays in honour of Andrew Hughes Hallett |
| title_exact_search | Quantitative economic policy essays in honour of Andrew Hughes Hallett |
| title_exact_search_txtP | Quantitative economic policy essays in honour of Andrew Hughes Hallett |
| title_full | Quantitative economic policy essays in honour of Andrew Hughes Hallett Reinhard Neck ..., eds. |
| title_fullStr | Quantitative economic policy essays in honour of Andrew Hughes Hallett Reinhard Neck ..., eds. |
| title_full_unstemmed | Quantitative economic policy essays in honour of Andrew Hughes Hallett Reinhard Neck ..., eds. |
| title_short | Quantitative economic policy |
| title_sort | quantitative economic policy essays in honour of andrew hughes hallett |
| title_sub | essays in honour of Andrew Hughes Hallett |
| topic | Mathematisches Modell Wirtschaftsentwicklung Econometrics Economic development Planning Mathematical models Quantitative Methode (DE-588)4232139-6 gnd Wirtschaftspolitik (DE-588)4066493-4 gnd Fiskalpolitik (DE-588)4071234-5 gnd Ökonometrie (DE-588)4132280-0 gnd Geldpolitik (DE-588)4019902-2 gnd |
| topic_facet | Mathematisches Modell Wirtschaftsentwicklung Econometrics Economic development Planning Mathematical models Quantitative Methode Wirtschaftspolitik Fiskalpolitik Ökonometrie Geldpolitik Aufsatzsammlung Festschrift |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015921719&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| volume_link | (DE-604)BV023549942 |
| work_keys_str_mv | AT neckreinhard quantitativeeconomicpolicyessaysinhonourofandrewhugheshallett AT hugheshallettandrew quantitativeeconomicpolicyessaysinhonourofandrewhugheshallett |