عنوان

Regime transitions, spillovers and buffer stocks :

(Number (ISBN

3540540563

(Number (ISBN

9783540540564

Number

b536679

Title Proper

Regime transitions, spillovers and buffer stocks :

General Material Designation

[Book]

Other Title Information

Analysing the Swiss economy by means of a disequilibrium model

First Statement of Responsibility

Peter Stalder

Place of Publication, Distribution, etc.

Berlin

Name of Publisher, Distributor, etc.

Springer-Verlag

Date of Publication, Distribution, etc.

1991

Specific Material Designation and Extent of Item

193 sider

Series Title

Lecture notes in economics and mathematical systems, 360

Text of Note

1. Introduction.- 1.1 Alternative theories of macroeconomic fluctuations.- 1.2 Assessment of the controversy - Motivation of the present study.- 1.3 Scope and limitations of the investigation.- 1.4 Set-up of the paper.- 2. The Micro Model.- 2.1 Spillovers and transactions.- 2.2 Discussion of the spillover elasticities.- 2.3 Regimes.- Appendix: Comparision with other spillover-formulations.- 3. Derivation of the Aggregate Model.- 3.1 Aggregation.- 3.2 Introduction of error terms.- 3.3 Adopting an econometrically tractable approximation.- 3.4 Accuracy of the approximation.- 4. Modified Version: Buffer Role of Inventories and Unfilled Orders.- 5. Specification of the Aggregate Econometric Equations.- 5.1 Labor supply.- 5.2 Demand for domestic output.- 5.3 Notional labor demand, notional goods supply and investment.- 5.3.1 Preliminaries.- 5.3.2 Malinvaud's investment model.- 5.3.3 Adopting a vintage-approach.- 5.3.4 Scrapping of old equipment.- 6. Structure of the Model, Method of Estimation and Dynamic Ncxtensions.- 6.1 Allowing for a trend in labor market mismatch.- 6.2 Summary of the model.- 6.3 Method of estimation.- 6.4 Labor hoarding, partial adjustment and error correction dynamics.- 7. Estimation results.- 7.1 Empirical versions - Models 1 to 4.- 7.2 Model 1: No buffer stocks, `static' labor hoarding.- 7.3 Model 2: No buffer stocks, dynamic labor hoarding.- 7.4 Model 3: Allowing for buffer stocks.- 7.5 Model 4: Inclusion of the investment equation.- 7.6 Interpreting Model 4 - Testing a priori parameter restrictions.- 7.7 Intertemporal substitution in labor supply - Comparison with other studies.- 8. Testing Parameter Stability.- 9. Simulations.- 9.1 Fit of the model (static simulation).- 9.2 Development of the Swiss economy: Regimes and spillovers.- 9.3 The Swiss labor market - A miracle?.- 9.4 Dynamic tracking performance.- 9.5 Simulating short-run and long-run effects of autonomous changes, assessing dynamic stability.- 9.5.1 Short-term impact of a demand shock (Keynesian demand stimulation).- 9.5.2 Reference simulation for examining long-run effects.- 9.5.3 Checking for dynamic stability.- 9.5.4 Long-run effects of permanent and single-period demand shocks.- 9.5.5 Simulation of a permanent wage (and price) reduction.- 10. Summary and Conclusions.- References.

Equilibrium (Economics) -- Mathematical models

Switzerland -- Economic conditions -- 1945- -- Econometric models

Switzerland -- Economic policy -- Econometric models

Peter Stalder

Peter Stalder

Electronic name

[Book]

Y