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Author : D. T. Mortensen
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (16 download)
Download or read book Generalised Cost of Adjustment and Dynamic Factor Demand Theory written by D. T. Mortensen and published by . This book was released on 1971 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Dale T. Mortensen
Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (515 download)
Download or read book Generalised Costs of Adjustment and Dynamic Factor Demand Theory written by Dale T. Mortensen and published by . This book was released on 1971 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Tommy Lundgren
Publisher :
ISBN 13 :
Total Pages : 12 pages
Book Rating : 4.:/5 (186 download)
Download or read book A Flexible Specification of Adjustment Costs in Dynamic Factor Demand Models written by Tommy Lundgren and published by . This book was released on 2001 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 12 pages
Book Rating : 4.:/5 (19 download)
Download or read book A Flexibel Specification of Adjustment Cost in Dynamic Factor Demand Models written by and published by . This book was released on 2001 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert S. Pindyck
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.3/5 (9 download)
Download or read book Dynamic Factor Demands Under Rational Expectations written by Robert S. Pindyck and published by . This book was released on 1982 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a dynamic model of the industrial demands for structures, equipment, and blue- and white-collar labor. Our approach is consistent with producers holding rational expectations and optimizing dynamically in the presence of adjustment costs, yet it permits generality of functional form regarding the technology. We represent the technology by atranslog input requirement function that specifies the amount of blue-collar labor (a flexible factor) the firm must hire to produce a level of output given its quantities of three quasi-fixed factors that are subject to adjustment costs: non-production (white-collar) workers, equipment, and structures.A complete description of the production structure is obtained by simultaneously estimating the input requirement function and three stochastic Euler equations.We apply an instrumental variable technique to estimate these equations using aggregate data for U.S. manufacturing. We find that as a fraction of total expenditures, adjustment costs are small in total hut large on the margin,and that they differ considerably across quasi-fixed factors. We also present short- and long-run elasticities of factor demands.
Author : Giuseppe Bertola
Publisher :
ISBN 13 :
Total Pages : 340 pages
Book Rating : 4.:/5 (2 download)
Download or read book Adjustment Costs and Dynamic Factor Demands written by Giuseppe Bertola and published by . This book was released on 1988 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : M. Ishaq Nadiri
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.3/5 ( download)
Download or read book Dynamic Factor Demand Models, Productivity Measurement, and Rates of Return written by M. Ishaq Nadiri and published by . This book was released on 1989 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prucha and Nadiri (1982,1986,1988) introduced a methodology to estimate systems of dynamic factor demand that allows for considerable flexibility in both the choice of the functional form of the technology and the expectation formation process. This paper applies this methodology to estimate the production structure, and the demand for labor, materials, capital and R & D by the U.S. Bell System. The paper provides estimates for short-, intermediate- and long-run price and output elasticities of the inputs, as well as estimates on the rate of return on capital and R & D. The paper also discusses the issue of the measurement of technical change if the firm is in temporary rather than long-run equilibrium and the technology is not assumed to be linear homogeneous The paper provides estimates for input and output based technical change as well as for returns to scale. Furthermore, the paper gives a decomposition of the traditional measure of total factor productivity growth.
Author :
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.:/5 (3 download)
Download or read book The Journal of Agricultural Economics Research written by and published by . This book was released on 1988 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michael K. Wohlgenant
Publisher : Springer Nature
ISBN 13 : 3030731448
Total Pages : 230 pages
Book Rating : 4.0/5 (37 download)
Download or read book Market Interrelationships and Applied Demand Analysis written by Michael K. Wohlgenant and published by Springer Nature. This book was released on 2021-06-28 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook addresses the core issues facing economists concerning price determination in commodity markets, especially food and agricultural commodities. This book hones in on the conceptual basis of the various relationships, with special emphasis on market interrelationships, both horizontally and vertically. This book covers key concepts such as consumer demand theory; quality, heterogeneous goods, and cross section demand; derived demand, marketing margins, and relationship between output and raw material prices; retail-to-farm demand linkages, imperfect competition, and short-run price determination; dynamic consumer demand; and dynamic models of the firm. What makes this textbook of particular use to students is its focus on bridging the gap between theory and empirical analysis. Going from theory to empirics requires that we have data—time series or cross section—that match the theoretical constructs. Often the data match is not perfect, either by definition or how the data are computed. In addition to problems of matching data with theoretical constructs, students and researchers need to know how to specify, estimate, and interpret results within the context of imperfect and often incomplete data. This textbook uses several data sets to illustrate how one might address problems in real-world settings. Furthermore, with exercises at the end of each chapter, students are able to test themselves on their ability to bring theory to life.
Author : Michael Ralph Caputo
Publisher : Cambridge University Press
ISBN 13 : 9780521603683
Total Pages : 596 pages
Book Rating : 4.6/5 (36 download)
Download or read book Foundations of Dynamic Economic Analysis written by Michael Ralph Caputo and published by Cambridge University Press. This book was released on 2005-01-17 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foundations of Dynamic Economic Analysis presents a modern and thorough exposition of the fundamental mathematical formalism used to study optimal control theory, i.e., continuous time dynamic economic processes, and to interpret dynamic economic behavior. The style of presentation, with its continual emphasis on the economic interpretation of mathematics and models, distinguishes it from several other excellent texts on the subject. This approach is aided dramatically by introducing the dynamic envelope theorem and the method of comparative dynamics early in the exposition. Accordingly, motivated and economically revealing proofs of the transversality conditions come about by use of the dynamic envelope theorem. Furthermore, such sequencing of the material naturally leads to the development of the primal-dual method of comparative dynamics and dynamic duality theory, two modern approaches used to tease out the empirical content of optimal control models. The stylistic approach ultimately draws attention to the empirical richness of optimal control theory, a feature missing in virtually all other textbooks of this type.
Author : Daniel S. Hamermesh
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (119 download)
Download or read book A Genral Model of Dynamic Labor Demand written by Daniel S. Hamermesh and published by . This book was released on 1990 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study derives and estimates a dynamic model of factor demand that includes both fixed and quadratic variable costs of adjustment. Using quarterly data on the employment of mechanics at seven airlines, it finds that both types of adjustment costs characterize the dynamic constraints facing employers. Using monthly data covering production-worker employment in seven manufacturing plants, it shows that only fixed costs are important. The apparent diversity of the underlying costs of adjustment means it is difficult to draw useful inferences from macroeconometric estimates. It suggests the importance of examining broader arrays of microeconomic time series describing labor demand.
Author : Ingmar R. Prucha
Publisher :
ISBN 13 :
Total Pages : 43 pages
Book Rating : 4.:/5 (254 download)
Download or read book Formulation and Estimation of Dynamic Factor Demand Equations Under Non-static Expectations written by Ingmar R. Prucha and published by . This book was released on 1982 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper proposes a discrete model of investment behavior that incorporates general nonstatic expectations with a general cost of adjustment technology. The combination of these two features usually leads to a set of highly nonlinear first order conditions for the optimal input plan; the expectational variables work in addition as shift parameters. Consequently, an explicit analytic solution for derived factor demand is in general difficult if not impossible to obtain. Simplifying assumptions on the technology and/or the form of the expectational process are therefore typically made in the literature. In this paper we develop an algorithm for the estimation of flexible forms of derived factor demand equations within the above general setting. By solving the first order conditions numerically at each iteration step this algorithm avoids the need for an explicit analytic solution. In particular we consider a model with a finite planning horizon. The relationship between the optimal input plans of the finite and infinite planning horizon model is explored. Due to the discrete setting of the model the forward looking behavior of investment is brought out very clearly. As a byproduct a consistent framework for the use of anticipation data on planned investment is developed.
Author : Robert E. Lucas
Publisher : U of Minnesota Press
ISBN 13 : 1452901716
Total Pages : 410 pages
Book Rating : 4.4/5 (529 download)
Download or read book Rational expectations and econometric practice. 1 written by Robert E. Lucas and published by U of Minnesota Press. This book was released on 1981 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rational Expectations and Econometric Practice was first published in 1981. Minnesota Archive Editions uses digital technology to make long-unavailable books once again accessible, and are published unaltered from the original University of Minnesota Press editions. Assumptions about how people form expectations for the future shape the properties of any dynamic economic model. To make economic decisions in an uncertain environment people must forecast such variables as future rates of inflation, tax rates, government subsidy schemes and regulations. The doctrine of rational expectations uses standard economic methods to explain how those expectations are formed. This work collects the papers that have made significant contributions to formulating the idea of rational expectations. Most of the papers deal with the connections between observed economic behavior and the evaluation of alternative economic policies. Robert E. Lucas, Jr., is professor of economics at the University of Chicago. Thomas J. Sargent is professor of economics at the University of Minnesota and adviser to the Federal Reserve Bank of Minnesota.
Author : Subhash C. Ray
Publisher : Springer Nature
ISBN 13 : 9811034559
Total Pages : 1797 pages
Book Rating : 4.8/5 (11 download)
Download or read book Handbook of Production Economics written by Subhash C. Ray and published by Springer Nature. This book was released on 2022-06-02 with total page 1797 pages. Available in PDF, EPUB and Kindle. Book excerpt: This three-volume handbook includes state-of-the-art surveys in different areas of neoclassical production economics. Volumes 1 and 2 cover theoretical and methodological issues only. Volume 3 includes surveys of empirical applications in different areas like manufacturing, agriculture, banking, energy and environment, and so forth.
Author : Robert E. Lucas
Publisher : U of Minnesota Press
ISBN 13 : 0816610711
Total Pages : 734 pages
Book Rating : 4.8/5 (166 download)
Download or read book Rational Expectations and Econometric Practice written by Robert E. Lucas and published by U of Minnesota Press. This book was released on 1981 with total page 734 pages. Available in PDF, EPUB and Kindle. Book excerpt: Assumptions about how people form expectations for the future shape the properties of any dynamic economic model. To make economic decisions in an uncertain environment people must forecast such variables as future rates of inflation, tax rates, governme.
Author : D. Peter Broer
Publisher : Springer Science & Business Media
ISBN 13 : 9400944780
Total Pages : 353 pages
Book Rating : 4.4/5 (9 download)
Download or read book Neoclassical Theory and Empirical Models of Aggregate Firm Behaviour written by D. Peter Broer and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Maxwell L. King
Publisher : Routledge
ISBN 13 : 1351140671
Total Pages : 366 pages
Book Rating : 4.3/5 (511 download)
Download or read book Specification Analysis in the Linear Model written by Maxwell L. King and published by Routledge. This book was released on 2018-03-05 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1987. This collection of original papers deals with various issues of specification in the context of the linear statistical model. The volume honours the early econometric work of Donald Cochrane, late Dean of Economics and Politics at Monash University in Australia. The chapters focus on problems associated with autocorrelation of the error term in the linear regression model and include appraisals of early work on this topic by Cochrane and Orcutt. The book includes an extensive survey of autocorrelation tests; some exact finite-sample tests; and some issues in preliminary test estimation. A wide range of other specification issues is discussed, including the implications of random regressors for Bayesian prediction; modelling with joint conditional probability functions; and results from duality theory. There is a major survey chapter dealing with specification tests for non-nested models, and some of the applications discussed by the contributors deal with the British National Accounts and with Australian financial and housing markets.
