Neoclassical Theory and Empirical Models of Aggregate Firm Behaviour

Language: English

Published by Springer, 2011

9401084947 / 9789401084949

Series: Book 54 of 54 - Advanced Studies in Theoretical and Applied Econometrics

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Druck auf Anfrage Neuware - Printed after ordering - I. Introduction.- 1.1 Scope and significance.- 1.2 Methodological considerations.- 1.2.1 The use of theoretical restrictions in empirical macro-models.- 1.2.2 Research programmes in economics.- 1.2.3 Decisionmaking and rationality.- 1.2.4 Rationality and information.- 1.3 An outline of the remaining chapters.- II. Some elements from the neoclassical research programme of the firm.- 2.1 Introduction.- 2.2 Keynesian theories of the firm.- 2.3 The neoclassical programme.- 2.3.1 Factor demand studies.- 2.3.2 Vintage technology models.- 2.3.3 Investment theory and economic scrap.- 2.3.4 Dynamics of the neoclassical model.- 2.3.5 Utilization of quasi-fixed factors.- 2.3.6 Market theories of investment.- 2.3.7 Output markets and prices.- 2.4 An outline of the structure of the models of this study.- 2.4.1 A model with a homogeneous capital stock.- 2.4.2 A putty-clay model.- III. A neoclassical model of a firm subject to a putty-putty technology.- 3.1 The market- and information structure.- 3.2 The production structure.- 3.3 The full model.- 3.4 Existence of an optimal policy.- 3.5 Necessary conditions for an optimal policy.- 3.5.1 The steady-state solution.- 3.5.2 The dynamic adjustment path.- 3.5.2.1 The short-term problem.- 3.5.2.2 The medium-term problem.- 3.6 Approximate solutions.- 3.7 Comparison with the stock adjustment specification.- Appendix 3a.- Appendix 3b.- Appendix 3c.- Appendix 3d.- Appendix 3e.- IV. Vintage technologies and the theory of the firm.- 4.1 Introduction.- 4.2 The structure of putty-clay models.- 4.2.1 Existence.- 4.2.2 Properties of an optimal policy.- 4.2.3 The steady-state.- 4.2.4 Approximate solution procedures.- 4.3 A general putty-clay model.- 4.3.1 Necessary conditions for an optimal policy.- 4.3.2 The steady-state solution.- 4.3.3 Discussion of the model.- 4.3.4 A solution method by shadow price approximation.- Appendix 4a.- V Estimation and empirical testing of the putty-putty model.- 5.1 Discrete-time adaptions.- 5.2 The construction of the expectations.- 5.3 Estimation.- 5.4 Model specification tests.- 5.5 Model characteristics.- 5.5.1 Stochastic stability.- 5.5.2 Feedback effects.- 5.5.3 Multiplier analysis.- 5.6 Trends and fluctuations.- Appendix 5a.- Appendix 5b Data sources and definitions.- Appendix 5c Summary of the putty-putty model.- VI. Estimation and testing of the putty-clay model.- 6.1 Discrete-time adaptions.- 6.2 Estimation.- 6.3 Model specification tests.- 6.4 Model characteristics.- 6.4.1 Stochastic stability.- 6.4.2 Feedback effects.- 6.4.3 Multiplier analysis.- 6.5 Trends and fluctuations.- Appendix 6a Summary of the putty-clay model.- VII. Summary and conclusion.- 7.1 Summary.- 7.2 Conclusion.- List of symbols.- References.- Author index.…

Seller Inventory # 9789401084949

Title
Neoclassical Theory and Empirical Models of Aggregate Firm Behaviour
Author
D. Peter Broer
Publisher
Springer
Publication year
2011
Condition
Neu
Binding
Taschenbuch
Language
English
ISBN 10
9401084947
ISBN 13
9789401084949
Item weight
546 grams
Dimensions
235x155x20 mm
Series
Book 54 of 54: Advanced Studies in Theoretical and Applied Econometrics

AHA-BUCH GmbH

Einbeck, Germany

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