Dynamic Factor Demand in a Rationing Context: Theory and Estimation of a Macroeconomic Disequilibrium Model for the Federal Republic of Germany
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 whi...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Heidelberg
Physica-Verlag HD
1993
|
| Ausgabe: | 1st ed. 1993 |
| Schriftenreihe: | Studies in Contemporary Economics
|
| Schlagworte: | |
| Online-Zugang: | BTU01 Volltext |
| Zusammenfassung: | 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 |
| Beschreibung: | 1 Online-Ressource (VIII, 242 p) |
| ISBN: | 9783642515125 |
| DOI: | 10.1007/978-3-642-51512-5 |
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| 520 | |a 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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| author | Smolny, Werner |
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| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| doi_str_mv | 10.1007/978-3-642-51512-5 |
| edition | 1st ed. 1993 |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T15:15:38Z |
| indexdate | 2024-07-10T08:56:10Z |
| institution | BVB |
| isbn | 9783642515125 |
| language | English |
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| spelling | Smolny, Werner Verfasser aut Dynamic Factor Demand in a Rationing Context Theory and Estimation of a Macroeconomic Disequilibrium Model for the Federal Republic of Germany by Werner Smolny 1st ed. 1993 Heidelberg Physica-Verlag HD 1993 1 Online-Ressource (VIII, 242 p) txt rdacontent c rdamedia cr rdacarrier Studies in Contemporary Economics 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 Economic Theory/Quantitative Economics/Mathematical Methods Economic theory Faktornachfrage (DE-588)4121247-2 gnd rswk-swf Mikroökonomische Fundierung (DE-588)4206633-5 gnd rswk-swf Ungleichgewichtsmodell (DE-588)4139160-3 gnd rswk-swf Dynamische Makroökonomie (DE-588)4200428-7 gnd rswk-swf Deutschland Bundesrepublik (DE-588)4011889-7 gnd rswk-swf Deutschland (DE-588)4011882-4 gnd rswk-swf Deutschland Bundesrepublik (DE-588)4011889-7 g Dynamische Makroökonomie (DE-588)4200428-7 s Ungleichgewichtsmodell (DE-588)4139160-3 s Mikroökonomische Fundierung (DE-588)4206633-5 s Faktornachfrage (DE-588)4121247-2 s DE-604 Deutschland (DE-588)4011882-4 g Erscheint auch als Druck-Ausgabe 9783790807127 Erscheint auch als Druck-Ausgabe 9783642515132 https://doi.org/10.1007/978-3-642-51512-5 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Smolny, Werner Dynamic Factor Demand in a Rationing Context Theory and Estimation of a Macroeconomic Disequilibrium Model for the Federal Republic of Germany Economic Theory/Quantitative Economics/Mathematical Methods Economic theory Faktornachfrage (DE-588)4121247-2 gnd Mikroökonomische Fundierung (DE-588)4206633-5 gnd Ungleichgewichtsmodell (DE-588)4139160-3 gnd Dynamische Makroökonomie (DE-588)4200428-7 gnd |
| subject_GND | (DE-588)4121247-2 (DE-588)4206633-5 (DE-588)4139160-3 (DE-588)4200428-7 (DE-588)4011889-7 (DE-588)4011882-4 |
| title | Dynamic Factor Demand in a Rationing Context Theory and Estimation of a Macroeconomic Disequilibrium Model for the Federal Republic of Germany |
| title_auth | Dynamic Factor Demand in a Rationing Context Theory and Estimation of a Macroeconomic Disequilibrium Model for the Federal Republic of Germany |
| title_exact_search | Dynamic Factor Demand in a Rationing Context Theory and Estimation of a Macroeconomic Disequilibrium Model for the Federal Republic of Germany |
| title_exact_search_txtP | Dynamic Factor Demand in a Rationing Context Theory and Estimation of a Macroeconomic Disequilibrium Model for the Federal Republic of Germany |
| title_full | Dynamic Factor Demand in a Rationing Context Theory and Estimation of a Macroeconomic Disequilibrium Model for the Federal Republic of Germany by Werner Smolny |
| title_fullStr | Dynamic Factor Demand in a Rationing Context Theory and Estimation of a Macroeconomic Disequilibrium Model for the Federal Republic of Germany by Werner Smolny |
| title_full_unstemmed | Dynamic Factor Demand in a Rationing Context Theory and Estimation of a Macroeconomic Disequilibrium Model for the Federal Republic of Germany by Werner Smolny |
| title_short | Dynamic Factor Demand in a Rationing Context |
| title_sort | dynamic factor demand in a rationing context theory and estimation of a macroeconomic disequilibrium model for the federal republic of germany |
| title_sub | Theory and Estimation of a Macroeconomic Disequilibrium Model for the Federal Republic of Germany |
| topic | Economic Theory/Quantitative Economics/Mathematical Methods Economic theory Faktornachfrage (DE-588)4121247-2 gnd Mikroökonomische Fundierung (DE-588)4206633-5 gnd Ungleichgewichtsmodell (DE-588)4139160-3 gnd Dynamische Makroökonomie (DE-588)4200428-7 gnd |
| topic_facet | Economic Theory/Quantitative Economics/Mathematical Methods Economic theory Faktornachfrage Mikroökonomische Fundierung Ungleichgewichtsmodell Dynamische Makroökonomie Deutschland Bundesrepublik Deutschland |
| url | https://doi.org/10.1007/978-3-642-51512-5 |
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