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Structural change in macroeconomic models : theory and estimation

Structural change in macroeconomic models : theory and estimation

Material type
단행본
Personal Author
Vilares, Manuel J. (Manuel Jose)
Title Statement
Structural change in macroeconomic models : theory and estimation / by Manuel J. Vilares.
Publication, Distribution, etc
Dordrecht ;   Boston :   Martinus Nijhoff ;   Hingham, MA, USA :   Distributors for the United States and Canada, Kluwer Academic,   1986.  
Physical Medium
x, 260 p. : ill. ; 25 cm.
Series Statement
Advanced studies in theoretical and applied econometrics ;v. 6.
ISBN
9024732778
General Note
Originally presented as author's thesis, University of Dijon.  
Bibliography, Etc. Note
Bibliography: p. 247-260.
Subject Added Entry-Topical Term
Econometric models.
Subject Added Entry-Geographic Name
Portugal --Economic conditions --1974- --Econometric models.
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001 000000120880
005 19981102095208.0
008 851203s1986 ne a b 000 0 eng
010 ▼a 85029834
020 ▼a 9024732778
040 ▼a DLC ▼c DLC
049 1 ▼l 412651854
050 0 ▼a HB141 ▼b .V55 1986
082 0 0 ▼a 330.9469/0028 ▼2 19
090 ▼a 339.0724 ▼b V697s
100 1 ▼a Vilares, Manuel J. ▼q (Manuel Jose)
245 1 0 ▼a Structural change in macroeconomic models : ▼b theory and estimation / ▼c by Manuel J. Vilares.
260 ▼a Dordrecht ; ▼a Boston : ▼b Martinus Nijhoff ; ▼a Hingham, MA, USA : ▼b Distributors for the United States and Canada, Kluwer Academic, ▼c 1986.
300 ▼a x, 260 p. : ▼b ill. ; ▼c 25 cm.
440 0 ▼a Advanced studies in theoretical and applied econometrics ; ▼v v. 6.
500 ▼a Originally presented as author's thesis, University of Dijon.
504 ▼a Bibliography: p. 247-260.
650 0 ▼a Econometric models.
651 0 ▼a Portugal ▼x Economic conditions ▼y 1974- ▼x Econometric models.

Holdings Information

No. Location Call Number Accession No. Availability Due Date Make a Reservation Service
No. 1 Location Main Library/Western Books/ Call Number 339.0724 V697s Accession No. 412651854 Availability Available Due Date Make a Reservation Service B M

Contents information

Table of Contents

1. Macroeconometric Models with Quantity Rationing.- 1.1. Non-Walrasian Economic Concepts.- 1.1.1. Institutional framework: the rationing scheme.- 1.1.2. Perceived and expected constraints.- 1.1.3. Effective demand and notional demand. The spill-over effects.- 1.1.4. Equilibrium with rationing and the formalisation in terms of equilibrium.- 1.2. A Reference Macroeconomic Model.- 1.2.1. The general framework.- 1.2.1.1. The accounting framework.- 1.2.1.2. The assumptions about rationing.- 1.2.2. The microeconomic foundations.- 1.2.2.1. Households' behaviour.- - Derivation of the utility function UH.- - Consumption and labour supply functions.- - An example.- - A graphical illustration.- 1.2.2.2. Firms' behaviour.- 1.2.3. The complete model.- 1.2.3.1. The determination of production and employment.- 1.2.3.2. The model's answer to exogenous shocks and the importance of the typology of regimes.- 1.3. A Theoretical Framework for the Study of Structural Changes.- 1.4. The Problems in Specifying a Macroeconometric Model with Quantity Rationing.- 1.4.1. The rationing scheme in the labour market.- 1.4.2. The specification of spill-over effects.- 1.4.3. The exiguity of the accounting framework.- 1.5. A Survey of the Macroeconometric Models with Quantity Rationing.- Conclusion.- Notes.- 2: The Suggested Model.- 2.1. General Structure and Overview.- 2.1.1. The assumptions regarding the behaviour of agents.- 2.1.2. The determination of production and employment.- 2.1.3. The interpretation scheme and the regime typology.- 2.1.4. The fundamental role of production function.- 2.2. The Specfication of the Production Function.- 2.2.1. The choice of the specification.- 2.2.2. The specification adopted.- 2.2.2.1. Formalization and meaning of the variables.- 2.2.2.2. Obsolescence: The scrapping condition.- 2.2.3. The functioning of the production function in the Keynesian regime case.- 2.3. The Specification of the Complete Model.- 2.3.1. Block 1-Demand.- 2.3.2. Block 2-Production capacity.- 2.3.3. Block 3-Labour supply.- 2.3.4. Block 4-Effective production and employment.- 2.4. Structural Change and External Disequilibria.- 2.4.1. Structural change.- 2.4.2. External disequilibria.- Conclusion.- Notes.- 3. Econometric Study of Models with Unknown Points of Structural Change.- 3.1. A Survey of the Estimation Techniques in the Case of Two-regime Regression Models.- 3.1.1. The general formulation of switching regression models (SRM) and the adopted notation.- 3.1.2. The SRM typology.- 3.1.2.1. SRM with stochastic assignment.- - The log-likelihood function (L).- - The direct maximisation of L not being advisable.- - leads to the utilisation of other approaches.- 3.1.2.2. SRM with deterministic assignment.- - The structural change tests in a particularly interesting case.- - The general case.- 3.1.2.3. SRM with mixed assignment.- 3.1.3. Application to the estimation of quantity rationing models (QRM).- 3.1.3.1. QRM with stochastic assignment.- - A complex liklihood function.- - which is not appropriate for optimisation methods.- 3.1.3.2. QRM with deterministic assignment.- - A non-dijferentiable likelihood function.- - ... leads, in general, to the utilisation of approximations.- 3.1.3.3. Some considerations about the choice of the stochastic specification in a macroeconometric rationing model.- 3.2. The Estimation Method Suggested.- 3.2.1. The complete model.- 3.2.2. The estimation difficulties.- 3.2.2.1. The problem of endogenous variables not statistically observed.- 3.2.2.2. The existence of the min operator.- 3.2.2.3.The non-derivability of the production function.- 3.2.3. The estimation procedure.- 3.2.4. The justification of the estimation method.- 3.2.4.1. Consistent estimators.- 3.2.4.2. An estimation of Clay-Clay model without restrictive assumptions.- - The current estimations of the Clay-Clay model.- - Comparative analysis.- Conclusion.- Notes.- 4. Empirical Application: A Study of the Economic Consequences of the Portuguese Revolution o


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