Alfred Greiner and Willi Semmler
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780195328233
- eISBN:
- 9780199869985
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195328233.003.0002
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter presents an overview of the five chapters (Chapter 2-6) in Part I of the book. It discusses the economic models that study the link between economic growth and the environment. It ...
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This chapter presents an overview of the five chapters (Chapter 2-6) in Part I of the book. It discusses the economic models that study the link between economic growth and the environment. It focuses on a class of models in which economic activities lead to environmental degradation, and through this economic activity negatively affects the utility of households or the production activities of firms.Less
This chapter presents an overview of the five chapters (Chapter 2-6) in Part I of the book. It discusses the economic models that study the link between economic growth and the environment. It focuses on a class of models in which economic activities lead to environmental degradation, and through this economic activity negatively affects the utility of households or the production activities of firms.
Peter Politser
- Published in print:
- 2008
- Published Online:
- May 2008
- ISBN:
- 9780195305821
- eISBN:
- 9780199867783
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195305821.003.0004
- Subject:
- Psychology, Cognitive Psychology
This chapter examines the alternative, behavioral economic models of evaluation. These models include diagnostic elements (differences in response to risk vs. ambiguity, attention to the chances of a ...
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This chapter examines the alternative, behavioral economic models of evaluation. These models include diagnostic elements (differences in response to risk vs. ambiguity, attention to the chances of a positive or negative event, sensitivity to changes in probability as well as optimism or pessimism), elements related to management (expectancy-related and goal-related utilities), as well as outcome evaluations (disappointment, elation, and regret, as well as the experienced disutility of waiting for outcomes to occur). In addition, these models considered other factors that can change evaluations, such as learning and context. The investigation of the neural correlates of these behavioral economic parameters of choice clarified why some irrational violations of the axioms or reasons may occur or even be justified. The chapter also describes other forms of inconsistency in evaluation, beyond mere inconsistency with the economic axioms. These include conflicts between remembered, experienced, predictive, expectancy-related, and goal-related utility.Less
This chapter examines the alternative, behavioral economic models of evaluation. These models include diagnostic elements (differences in response to risk vs. ambiguity, attention to the chances of a positive or negative event, sensitivity to changes in probability as well as optimism or pessimism), elements related to management (expectancy-related and goal-related utilities), as well as outcome evaluations (disappointment, elation, and regret, as well as the experienced disutility of waiting for outcomes to occur). In addition, these models considered other factors that can change evaluations, such as learning and context. The investigation of the neural correlates of these behavioral economic parameters of choice clarified why some irrational violations of the axioms or reasons may occur or even be justified. The chapter also describes other forms of inconsistency in evaluation, beyond mere inconsistency with the economic axioms. These include conflicts between remembered, experienced, predictive, expectancy-related, and goal-related utility.
Alfred Greiner and Willi Semmler
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780195328233
- eISBN:
- 9780199869985
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195328233.003.0018
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This concluding chapter presents a synthesis of discussions in the preceding chapters. The first part of the book analyzed in a small-scale model the interrelation between economic growth, the ...
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This concluding chapter presents a synthesis of discussions in the preceding chapters. The first part of the book analyzed in a small-scale model the interrelation between economic growth, the environment, and welfare of a country. The second part of the book studied the interaction of growth and global warming. The third part was concerned with economic growth and renewable and nonrenewable resources as well as with policies to prevent overextraction of those resources.Less
This concluding chapter presents a synthesis of discussions in the preceding chapters. The first part of the book analyzed in a small-scale model the interrelation between economic growth, the environment, and welfare of a country. The second part of the book studied the interaction of growth and global warming. The third part was concerned with economic growth and renewable and nonrenewable resources as well as with policies to prevent overextraction of those resources.
Aman Ullah
- Published in print:
- 2004
- Published Online:
- August 2004
- ISBN:
- 9780198774471
- eISBN:
- 9780191601347
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198774478.001.0001
- Subject:
- Economics and Finance, Econometrics
This book presents a comprehensive and unified treatment of finite sample theory, and its application to estimators and test statistics used in various econometric models. Time series, cross section, ...
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This book presents a comprehensive and unified treatment of finite sample theory, and its application to estimators and test statistics used in various econometric models. Time series, cross section, and panel data models are considered. The results are explored for linear and nonlinear models, as well as models with normal and nonnormal errors. The book contains seven chapters. Chapter 1 presents an introduction to finite sample econometrics. Chapter 2 gives methods of obtaining the moments of econometric statistics. Chapter 3 provides methods for analysing distributions. Finite sample results for various econometric models are discussed in Chapters 4-7.Less
This book presents a comprehensive and unified treatment of finite sample theory, and its application to estimators and test statistics used in various econometric models. Time series, cross section, and panel data models are considered. The results are explored for linear and nonlinear models, as well as models with normal and nonnormal errors. The book contains seven chapters. Chapter 1 presents an introduction to finite sample econometrics. Chapter 2 gives methods of obtaining the moments of econometric statistics. Chapter 3 provides methods for analysing distributions. Finite sample results for various econometric models are discussed in Chapters 4-7.
Paul Stoneman
- Published in print:
- 2010
- Published Online:
- May 2010
- ISBN:
- 9780199572489
- eISBN:
- 9780191722257
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199572489.003.0006
- Subject:
- Business and Management, Innovation
This chapter explores the extent to which soft innovation can usefully be modelled as an economic process driven by economic incentives and subject to economic rationality, and also the extent to ...
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This chapter explores the extent to which soft innovation can usefully be modelled as an economic process driven by economic incentives and subject to economic rationality, and also the extent to which the use of tools and techniques commonly employed in the standard economic analysis of innovation is still relevant in this context. Although useful in many ways, the standard literature upon the determinants of technological innovation is found to be not completely suited to the analysis of soft innovation. This is primarily due to: (i) the fact that soft innovation is mainly concerned with the introduction of new product variants, and thus models with differentiated products are most appropriate; and (ii) partly to do with difficulties in conceptualising, in the context of soft innovation, a basic component of standard models that relates expenditure on R&D to the extent of any advance.Less
This chapter explores the extent to which soft innovation can usefully be modelled as an economic process driven by economic incentives and subject to economic rationality, and also the extent to which the use of tools and techniques commonly employed in the standard economic analysis of innovation is still relevant in this context. Although useful in many ways, the standard literature upon the determinants of technological innovation is found to be not completely suited to the analysis of soft innovation. This is primarily due to: (i) the fact that soft innovation is mainly concerned with the introduction of new product variants, and thus models with differentiated products are most appropriate; and (ii) partly to do with difficulties in conceptualising, in the context of soft innovation, a basic component of standard models that relates expenditure on R&D to the extent of any advance.
Peter Politser
- Published in print:
- 2008
- Published Online:
- May 2008
- ISBN:
- 9780195305821
- eISBN:
- 9780199867783
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195305821.003.0003
- Subject:
- Psychology, Cognitive Psychology
This chapter examines the economic components of the capacity to evaluate outcomes. It considers the diagnostic and management components of anticipation. Possible measures of diagnostic and ...
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This chapter examines the economic components of the capacity to evaluate outcomes. It considers the diagnostic and management components of anticipation. Possible measures of diagnostic and management evaluations as well as their neural correlates and possible disturbances are described. As a starting point for readers, the chapter simplifies the discussion of neurobiological findings and economic models.Less
This chapter examines the economic components of the capacity to evaluate outcomes. It considers the diagnostic and management components of anticipation. Possible measures of diagnostic and management evaluations as well as their neural correlates and possible disturbances are described. As a starting point for readers, the chapter simplifies the discussion of neurobiological findings and economic models.
Alfred Greiner and Willi Semmler
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780195328233
- eISBN:
- 9780199869985
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195328233.003.0013
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter presents some concluding remarks about the economic model presented in Chapters 8-11. Part II of the book studied the interrelation between anthropogenic global warming and economic ...
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This chapter presents some concluding remarks about the economic model presented in Chapters 8-11. Part II of the book studied the interrelation between anthropogenic global warming and economic growth assuming a simple descriptive model of endogenous growth. Using simulations, it was shown that increases in abatement spending may yield a win-win situation. That means a rise in abatement activities both reduces greenhouse gas emissions and raises economic growth. This holds for both the balanced growth rate and for the growth rate of GDP on the transition path.Less
This chapter presents some concluding remarks about the economic model presented in Chapters 8-11. Part II of the book studied the interrelation between anthropogenic global warming and economic growth assuming a simple descriptive model of endogenous growth. Using simulations, it was shown that increases in abatement spending may yield a win-win situation. That means a rise in abatement activities both reduces greenhouse gas emissions and raises economic growth. This holds for both the balanced growth rate and for the growth rate of GDP on the transition path.
Alfred Greiner and Willi Semmler
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780195328233
- eISBN:
- 9780199869985
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195328233.003.0007
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter presents some concluding remarks about the economic models presented in Chapters 2 to 5. An endogenous growth model was presented with public capital and pollution. The uniqueness of ...
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This chapter presents some concluding remarks about the economic models presented in Chapters 2 to 5. An endogenous growth model was presented with public capital and pollution. The uniqueness of this approach compared to the literature on environmental pollution and endogenous growth is the assumption that pollution only affects the utility of the household and not production possibilities directly. Analyses of the model demonstrated the effects of fiscal policy on the long-run balanced growth rate. Variations in both the income tax rate and the pollution tax rate were also shown to have either positive or negative growth effects.Less
This chapter presents some concluding remarks about the economic models presented in Chapters 2 to 5. An endogenous growth model was presented with public capital and pollution. The uniqueness of this approach compared to the literature on environmental pollution and endogenous growth is the assumption that pollution only affects the utility of the household and not production possibilities directly. Analyses of the model demonstrated the effects of fiscal policy on the long-run balanced growth rate. Variations in both the income tax rate and the pollution tax rate were also shown to have either positive or negative growth effects.
Mario Mazzocchi, W. Bruce Traill, and Jason F. Shogren
- Published in print:
- 2009
- Published Online:
- October 2011
- ISBN:
- 9780199213856
- eISBN:
- 9780191695902
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199213856.001.0001
- Subject:
- Economics and Finance, Public and Welfare
The obesity epidemic and the growing debate about what, if any, public health policy should be adopted is the subject of endless debates within the media and in governments around the world. Whilst ...
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The obesity epidemic and the growing debate about what, if any, public health policy should be adopted is the subject of endless debates within the media and in governments around the world. Whilst much has been written on the subject, this book takes a unique approach by looking at the obesity epidemic from an economic perspective. Written in a language accessible to non-specialists, the authors provide a timely discussion of evolving nutrition policies in both the developing and developed world, discuss the factors influencing supply and demand of food supply, and review the evidence for various factors which may explain recent trends in diets, weight, and health. The traditional economic model assumes people choose to be overweight as part of a utility maximisation process that involves choices about what to eat and drink, how much time to spend on leisure, food preparation, and exercise, and choices about appearance and health. Market and behavioural failures, however, such as time available to a person, education, costs imposed on the health system and economic productivity provide the economic rationale for government intervention. The authors explore various policy measures designed to deal with the epidemic and examine their effectiveness within a cost-benefit analysis framework. While providing a sound economic basis for analysing policy decisions, the book also aims to show the underlying limits of the economic framework in quantifying changes in public well-being.Less
The obesity epidemic and the growing debate about what, if any, public health policy should be adopted is the subject of endless debates within the media and in governments around the world. Whilst much has been written on the subject, this book takes a unique approach by looking at the obesity epidemic from an economic perspective. Written in a language accessible to non-specialists, the authors provide a timely discussion of evolving nutrition policies in both the developing and developed world, discuss the factors influencing supply and demand of food supply, and review the evidence for various factors which may explain recent trends in diets, weight, and health. The traditional economic model assumes people choose to be overweight as part of a utility maximisation process that involves choices about what to eat and drink, how much time to spend on leisure, food preparation, and exercise, and choices about appearance and health. Market and behavioural failures, however, such as time available to a person, education, costs imposed on the health system and economic productivity provide the economic rationale for government intervention. The authors explore various policy measures designed to deal with the epidemic and examine their effectiveness within a cost-benefit analysis framework. While providing a sound economic basis for analysing policy decisions, the book also aims to show the underlying limits of the economic framework in quantifying changes in public well-being.
Peter Politser
- Published in print:
- 2008
- Published Online:
- May 2008
- ISBN:
- 9780195305821
- eISBN:
- 9780199867783
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195305821.003.0005
- Subject:
- Psychology, Cognitive Psychology
This chapter begins with a review of the topics discussed in the preceding chapters. It then discusses the need to “remodel” ideas about the sources of choice and the lack of a systematic framework ...
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This chapter begins with a review of the topics discussed in the preceding chapters. It then discusses the need to “remodel” ideas about the sources of choice and the lack of a systematic framework for designing and interpreting experiments in neuroeconomic studies. The chapter concludes that it is currently difficult to match specific neural circuits to particular neuroeconomic parameters. The understanding of any correspondences is likely to change, and some circuits may serve general cognitive functions that do not correspond well to any existing economic models. The complex modular operations of the brain also limit what we can say about the importance of any particular brain structure's role in decision making.Less
This chapter begins with a review of the topics discussed in the preceding chapters. It then discusses the need to “remodel” ideas about the sources of choice and the lack of a systematic framework for designing and interpreting experiments in neuroeconomic studies. The chapter concludes that it is currently difficult to match specific neural circuits to particular neuroeconomic parameters. The understanding of any correspondences is likely to change, and some circuits may serve general cognitive functions that do not correspond well to any existing economic models. The complex modular operations of the brain also limit what we can say about the importance of any particular brain structure's role in decision making.
Viviana A. Zelizer
- Published in print:
- 2010
- Published Online:
- October 2017
- ISBN:
- 9780691139364
- eISBN:
- 9781400836253
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691139364.003.0018
- Subject:
- Sociology, Economic Sociology
This chapter examines some of the recent interdisciplinary attempts to develop theoretical alternatives to purely economic models of the market. The very definition of the market is at stake. In ...
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This chapter examines some of the recent interdisciplinary attempts to develop theoretical alternatives to purely economic models of the market. The very definition of the market is at stake. In contrast to the neoclassical assumption of the market as a universal and exclusive form of economic arrangement, market revisionists define the market as one among many different possible social arrangements, such as barter or gift exchange, that involve economic processes. The market is thus one institutionalized type of social relations involving consumption, production, and exchange. Its essence is the rational calculation of costs and benefits and the regulation of exchange by the price mechanism. The chapter argues that the “multiple markets” model represents the most useful alternative to the neoclassical paradigm of the market.Less
This chapter examines some of the recent interdisciplinary attempts to develop theoretical alternatives to purely economic models of the market. The very definition of the market is at stake. In contrast to the neoclassical assumption of the market as a universal and exclusive form of economic arrangement, market revisionists define the market as one among many different possible social arrangements, such as barter or gift exchange, that involve economic processes. The market is thus one institutionalized type of social relations involving consumption, production, and exchange. Its essence is the rational calculation of costs and benefits and the regulation of exchange by the price mechanism. The chapter argues that the “multiple markets” model represents the most useful alternative to the neoclassical paradigm of the market.
John Knight
- Published in print:
- 2012
- Published Online:
- May 2012
- ISBN:
- 9780199698691
- eISBN:
- 9780191739118
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199698691.003.0002
- Subject:
- Economics and Finance, South and East Asia, Financial Economics
This chapter provides a framework for understanding the chapters to come. It covers models of economic growth, empirical approaches to economic growth, the relationships between the literatures on ...
More
This chapter provides a framework for understanding the chapters to come. It covers models of economic growth, empirical approaches to economic growth, the relationships between the literatures on economic growth and on economic development, and the relationships between economic growth and economic inequality.Less
This chapter provides a framework for understanding the chapters to come. It covers models of economic growth, empirical approaches to economic growth, the relationships between the literatures on economic growth and on economic development, and the relationships between economic growth and economic inequality.
Don Ross
- Published in print:
- 2010
- Published Online:
- May 2010
- ISBN:
- 9780195376685
- eISBN:
- 9780199776306
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195376685.003.0002
- Subject:
- Philosophy, Moral Philosophy
The chapter compares a leading psychological account of procrastination and related phenomena—the picoeconomic framework of George Ainslie—with economic models of self-control lapses generally and ...
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The chapter compares a leading psychological account of procrastination and related phenomena—the picoeconomic framework of George Ainslie—with economic models of self-control lapses generally and procrastination specifically. By “economic,” reference is intended to models that admit of solution by maximizing utility functions and that can be tested econometrically against behavioral or neural processing data. The chapter demonstrates how bargaining games among picoeconomic interests (as Ainslie depicts them) can take two forms. One of these forms corresponds to dual-self models of self-control that have unique Markov Perfect Nash Equilibria as solutions. The other form has yet to be modeled, but promising tools for the job are in place.Less
The chapter compares a leading psychological account of procrastination and related phenomena—the picoeconomic framework of George Ainslie—with economic models of self-control lapses generally and procrastination specifically. By “economic,” reference is intended to models that admit of solution by maximizing utility functions and that can be tested econometrically against behavioral or neural processing data. The chapter demonstrates how bargaining games among picoeconomic interests (as Ainslie depicts them) can take two forms. One of these forms corresponds to dual-self models of self-control that have unique Markov Perfect Nash Equilibria as solutions. The other form has yet to be modeled, but promising tools for the job are in place.
Witham Larry
- Published in print:
- 2010
- Published Online:
- May 2010
- ISBN:
- 9780195394757
- eISBN:
- 9780199777372
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195394757.003.0001
- Subject:
- Religion, Religion and Society
The economic approach has attempted to explain several puzzles in religion, among them the new religions of Japan, blue laws in America, the behavior of Latin American bishops, church giving, Islamic ...
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The economic approach has attempted to explain several puzzles in religion, among them the new religions of Japan, blue laws in America, the behavior of Latin American bishops, church giving, Islamic banking, and why religions prescribe distinctive kinds of clothing. In the economic approach, economists take a simple assumption about rational, calculated behavior in human beings to avoid the complexities of psychology and culture. The economics of religion also follows the approach of “positive economics,” which tests a theory against data, producing case-studies. It adopts a range of economic concepts: opportunity cost, scarcity, constraints, supply and demand, risk and the future, and the operation of clubs, firms, and markets. On the model of micro-economics and macro-economics, the economic approach to religion looks at individuals, households, clubs, firms, and the larger marketplace.Less
The economic approach has attempted to explain several puzzles in religion, among them the new religions of Japan, blue laws in America, the behavior of Latin American bishops, church giving, Islamic banking, and why religions prescribe distinctive kinds of clothing. In the economic approach, economists take a simple assumption about rational, calculated behavior in human beings to avoid the complexities of psychology and culture. The economics of religion also follows the approach of “positive economics,” which tests a theory against data, producing case-studies. It adopts a range of economic concepts: opportunity cost, scarcity, constraints, supply and demand, risk and the future, and the operation of clubs, firms, and markets. On the model of micro-economics and macro-economics, the economic approach to religion looks at individuals, households, clubs, firms, and the larger marketplace.
ANDREW CAPLIN
- Published in print:
- 2008
- Published Online:
- October 2011
- ISBN:
- 9780195328318
- eISBN:
- 9780199851768
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195328318.003.0015
- Subject:
- Economics and Finance, Economic History
As models are often subjected to empirical testing to evaluate their ability to predict economically sound choices, these models are also solved by means of using optimization measures that are ...
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As models are often subjected to empirical testing to evaluate their ability to predict economically sound choices, these models are also solved by means of using optimization measures that are grounded on understanding both the quantitative and qualitative links of the actual choice data to the models. What sets economics apart from the other social sciences is how the decision-theoretic methodology brings about influential positive externalities. Although this aspect of economics seems to be well-organized, others would notice how classical decision theory does not integrate psychological factors. This chapter attempts to illustrate the developments that have furthered the use of nonstandard economic models while also accounting for the new forms of “psychological data” which involves eye movements, neurological responses, and other such indicators in expanding economic theory.Less
As models are often subjected to empirical testing to evaluate their ability to predict economically sound choices, these models are also solved by means of using optimization measures that are grounded on understanding both the quantitative and qualitative links of the actual choice data to the models. What sets economics apart from the other social sciences is how the decision-theoretic methodology brings about influential positive externalities. Although this aspect of economics seems to be well-organized, others would notice how classical decision theory does not integrate psychological factors. This chapter attempts to illustrate the developments that have furthered the use of nonstandard economic models while also accounting for the new forms of “psychological data” which involves eye movements, neurological responses, and other such indicators in expanding economic theory.
Ulrich Glassmann
- Published in print:
- 2009
- Published Online:
- May 2009
- ISBN:
- 9780199551170
- eISBN:
- 9780191720802
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199551170.003.0002
- Subject:
- Business and Management, Political Economy, Innovation
Accounts of the German socio-economic ‘model’ frequently start from an image of how that economy and its institutions operated in the 1980s and early 1990s. Not only has this image become out of ...
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Accounts of the German socio-economic ‘model’ frequently start from an image of how that economy and its institutions operated in the 1980s and early 1990s. Not only has this image become out of date, but the fact that the German system is one which is undergoing continuing change means that it is difficult to depict German institutions in a state of equilibrium. New accounts, or images, have to be presented, not only very differently from the outdated accounts but also as institutions undergoing change. This chapter offers an account of this ‘moving image’, rather than a ‘snapshot’ of contemporary German capitalism, to provide a base for the appraisal of the regional and sectoral variants of that economy that appears in later chapters.Less
Accounts of the German socio-economic ‘model’ frequently start from an image of how that economy and its institutions operated in the 1980s and early 1990s. Not only has this image become out of date, but the fact that the German system is one which is undergoing continuing change means that it is difficult to depict German institutions in a state of equilibrium. New accounts, or images, have to be presented, not only very differently from the outdated accounts but also as institutions undergoing change. This chapter offers an account of this ‘moving image’, rather than a ‘snapshot’ of contemporary German capitalism, to provide a base for the appraisal of the regional and sectoral variants of that economy that appears in later chapters.
Michio Hatanaka
- Published in print:
- 1996
- Published Online:
- November 2003
- ISBN:
- 9780198773535
- eISBN:
- 9780191596360
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198773536.003.0012
- Subject:
- Economics and Finance, Econometrics
This chapter discusses co-integration and the Granger representation theorem. The theoretical structure of the Granger representation theorem is illustrated with economic interpretation by a ...
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This chapter discusses co-integration and the Granger representation theorem. The theoretical structure of the Granger representation theorem is illustrated with economic interpretation by a bivariate process. The economic error-correction model is used to show the type of long-run relationships that be dealt with by the co-integration analysis. The recovery of the parameter of the economic error-correction model from that of the statistical error-correction model is also presented.Less
This chapter discusses co-integration and the Granger representation theorem. The theoretical structure of the Granger representation theorem is illustrated with economic interpretation by a bivariate process. The economic error-correction model is used to show the type of long-run relationships that be dealt with by the co-integration analysis. The recovery of the parameter of the economic error-correction model from that of the statistical error-correction model is also presented.
A. B. Atkinson
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780199532438
- eISBN:
- 9780191714559
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199532438.003.0012
- Subject:
- Economics and Finance, Development, Growth, and Environmental, International
This note presents details of the model used to explain the dynamics of supply and demand.
This note presents details of the model used to explain the dynamics of supply and demand.
Bruno Amable
- Published in print:
- 2003
- Published Online:
- July 2005
- ISBN:
- 9780199261130
- eISBN:
- 9780191602474
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/019926113X.003.0005
- Subject:
- Economics and Finance, Economic Systems
This chapter gathers the results of the analyses of chapter 4, and proposes a cluster analysis of types of capitalism. Empirical clustering patterns are discovered that are interpretable in terms of ...
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This chapter gathers the results of the analyses of chapter 4, and proposes a cluster analysis of types of capitalism. Empirical clustering patterns are discovered that are interpretable in terms of the typology of chapter 3. Specific characteristics concerning political systems, specialization in scientific, technological, and industrial activity, as well as macroeconomic performance are shown to be associated with particular types of capitalism.Less
This chapter gathers the results of the analyses of chapter 4, and proposes a cluster analysis of types of capitalism. Empirical clustering patterns are discovered that are interpretable in terms of the typology of chapter 3. Specific characteristics concerning political systems, specialization in scientific, technological, and industrial activity, as well as macroeconomic performance are shown to be associated with particular types of capitalism.
Antoin E. Murphy
- Published in print:
- 1989
- Published Online:
- November 2003
- ISBN:
- 9780198286820
- eISBN:
- 9780191596681
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198286821.003.0013
- Subject:
- Economics and Finance, History of Economic Thought
Deals with the model building approach of the Essai, the emphasis on markets and entrepreneurs, the circular flow of income, the linking of money to the real economy, the specie flow mechanism, ...
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Deals with the model building approach of the Essai, the emphasis on markets and entrepreneurs, the circular flow of income, the linking of money to the real economy, the specie flow mechanism, traded and non‐traded goods, and the critique of financial innovations.Less
Deals with the model building approach of the Essai, the emphasis on markets and entrepreneurs, the circular flow of income, the linking of money to the real economy, the specie flow mechanism, traded and non‐traded goods, and the critique of financial innovations.
