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Three Papers On Capital Gestation Lags And Their Effects On Investment And The Value Of Capital
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Author :Jonathan N. Millar Publisher :Ann Arbor, Mich. : University Microfilms International ISBN 13 : Total Pages :342 pages Book Rating :4.3/5 (91 download)
Book Synopsis Three Papers on Capital Gestation Lags and Their Effects on Investment and the Value of Capital by : Jonathan N. Millar
Download or read book Three Papers on Capital Gestation Lags and Their Effects on Investment and the Value of Capital written by Jonathan N. Millar and published by Ann Arbor, Mich. : University Microfilms International. This book was released on 2005 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Gestation Lags for Capital, Cash Flows, and Tobins's Q by : Jonathan Millar
Download or read book Gestation Lags for Capital, Cash Flows, and Tobins's Q written by Jonathan Millar and published by . This book was released on 2005 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Investment models typically assume that capital becomes productive almost immediately after purchase and that there is no lead time needed to plan. In the case, marginal q is usually sufficient for investment. This paper develops a model of aggregate investment where competitive firms face no adjustment costs other than building and planning delays. In this context, both Tobin's Q and cash flow can be noisy indicators of investment because some shocks fail to outlast the combined gestation lag. The paper demonstrates some empirical facts that challenge prevailing theories of investment but are consistent with gestation requirements. Regressions using aggregate data suggest that it takes at least four quarters for investment to respond to technology shocks and as many as eight additional quarters before productive capacity is affected. Estimates from structural VARs show that only permanent shocks affect investment, but that cash flow and Q react to both permanent and transitory shocks"--Abstract.
Download or read book Journal of Economic Literature written by and published by . This book was released on 2006-12 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Rational Expectations and Econometric Practice by : Robert E. Lucas
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.
Book Synopsis Integrated Macro-Micro-Modelling Under Rational Expectations by : Michael Malakellis
Download or read book Integrated Macro-Micro-Modelling Under Rational Expectations written by Michael Malakellis and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph is concerned with the formulation and implementation of ORANI-INT, an intertemporal Computable General Equilibrium (CGE) model of the Australian economy. The aim is to bring together, in a balanced approach, theory and data for the purpose of developing a practical state-of-the-art tool for policy analysis. The modelling approach adopted is motivated by the recent trend in economy-wide modelling to combine the respective strengths of traditional CGE models and modern macroeconomic models. Traditional CGE models typically provide a dissagregate representation of the economy at a single point in time. Such models are useful for analysing issues involving the allocation of resources among the various agents identified at a particular point in time. Modern macroeconomic models, on the other hand, usually provide an aggregate representation of the economy over many points in time. Such models are useful for analysing issues involving the allocation of resources across time. A model that combines the strengths of static CGE models and modern macro-dynamic models is amenable to addressing a wide range of policy issues. To demonstrate this point ORANI-INT is used to analyse tariff reform.
Book Synopsis Business Cycles by : Victor Zarnowitz
Download or read book Business Cycles written by Victor Zarnowitz and published by University of Chicago Press. This book was released on 2007-11-01 with total page 613 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents the most complete collection available of the work of Victor Zarnowitz, a leader in the study of business cycles, growth, inflation, and forecasting.. With characteristic insight, Zarnowitz examines theories of the business cycle, including Keynesian and monetary theories and more recent rational expectation and real business cycle theories. He also measures trends and cycles in economic activity; evaluates the performance of leading indicators and their composite measures; surveys forecasting tools and performance of business and academic economists; discusses historical changes in the nature and sources of business cycles; and analyzes how successfully forecasting firms and economists predict such key economic variables as interest rates and inflation.
Book Synopsis Handbook of Bioenergy Economics and Policy: Volume II by : Madhu Khanna
Download or read book Handbook of Bioenergy Economics and Policy: Volume II written by Madhu Khanna and published by Springer. This book was released on 2017-05-22 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt: In its second volume, this book aims to link the academic research with development in the real world and provide a historical and institutional background that can enrich more formal research. The first section will include an assessment of the evolution and the state of the nascent second-generation biofuel as well as a perspective on the evolution of corn ethanol and sugarcane ethanol in Brazil. It will also include a historical and institutional background on the biofuel industry in Brazil that has global lessons, and later, provide a technical overview of major analytical tools used to assess the economic, land use and greenhouse gas implications of biofuel policies at a regional and global level. Additionally, the book analyzes the various drivers for land use change both at a micro-economic level and at a macro-economic level. It presents studies that apply regional and global economic models to examine the effects of biofuel policies in the US, EU and Brazil on regional and global land use, on food and fuel prices and greenhouse gas emissions. These papers illustrate the use of partial and general equilibrium modeling approaches to simulate the effects of various biofuel policies, and includes studies showing the effects of risk aversion, time preferences and liquidity constraints on farmers decision to grow energy crops for biofuel production. By presenting the tools of lifecycle analysis for assessing the direct greenhouse gas intensity of biofuels, this handbook investigates the types of indirect or market mediated effects that can offset or strengthen these direct effects. It will include tools to assess the direct and indirect effects of biofuel production on greenhouse gas emissions in the US and Brazil, and ultimately provide a comprehensive background to understand the state of biofuel in the present and how to analyze their implication.
Book Synopsis Socially Relevant Policy Analysis by : Lance Taylor
Download or read book Socially Relevant Policy Analysis written by Lance Taylor and published by MIT Press. This book was released on 1990 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of work reviews the results of using CGE models since the early 1970s, with an emphasis on models that encompass broad structural factors such as distribution of income and wealth, land tenancy relationships, foreign trade, production, markets, and control of the means of production that are fundamental to the behavior of developing economies. Economist Lance Taylor is an advocate of aggressive government management of developing economies. The models described in this book are are easy to set up and manipulate on microcomputers and should dominate the development debate. Taylor's detailed discussion of structuralist COE models is followed by contributions that take up their application in specific countries.This collection of work reviews the results of using CGE models since the early 1970s, with an emphasis on models that encompass broad structural factors such as distribution of income and wealth, land tenancy relationships, foreign trade, production, markets, and control of the means of production that are fundamental to the behavior of developing economies.Chapters explain the macro constraints on India's economic growth and describe Plan Austral and other heterodox shocks, describe the application of a structuralist model to Nicaragua, to Mexican food consumption policies, and to the food market in Colombia. They discuss a model with portfolio choice for Thailand, resource mobilization through administered prices, and conflicting claims and dynamic inflationary mechanisms in India, short-run energyeconomy interactions in Egypt, policy options for growth and the alleviation of poverty in Sri Lanka, currency devaluation in Mexico, and medium-term growth projections for Kuwait. The book concludes with a manual for a structuralist macro model program.
Book Synopsis Economic Dynamics: Methods and Models by : G Gandolfo
Download or read book Economic Dynamics: Methods and Models written by G Gandolfo and published by Elsevier. This book was released on 1971-01-01 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic Dynamics: Methods and Models aims to give a simple but comprehensive treatment of mathematical methods used in economic dynamics and show how they are utilized to build and to analyze dynamic models. The text also focuses on methods, and every mathematical technique introduced is followed by its application to selected models. The book is divided into three different parts. Part I: Different Equations discusses general principles; first-order, second-order, higher-order equations; simultaneous systems; and their economic applications. Part II: Differential Equations also discusses the same areas as those in Part I, but instead features differential equations, as what the section name suggests. Part III: More Advanced Material covers comparative statistics and the comparative principle; stability of equilibrium and Liapunov's second method; and linear mixed differential and difference equations, as well as its other related topics. The text is recommended for mathematicians and economists who have an idea on advanced mathematics and would like to know more about its applications in economics.
Book Synopsis Rational expectations and econometric practice. 1 by : Robert E. Lucas
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.
Book Synopsis The World Economic Order by : E. Lundberg
Download or read book The World Economic Order written by E. Lundberg and published by Springer. This book was released on 1981-03-19 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis J-Curve of Productivity and Growth by : Mr.Arvind Virmani
Download or read book J-Curve of Productivity and Growth written by Mr.Arvind Virmani and published by International Monetary Fund. This book was released on 2011-07-01 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most estimates of Indian manufacturing productivity find a slowdown in the 1990s. This has puzzled analysts, given that 1990s reforms were deeper and wider than the 1980s reforms that raised the growth rate of the Indian economy by 2 per cent points. This paper tests the hypothesis of the J curve of Productivity and Growth following major liberalization and finds it to be broadly supported by the data: Technological obsolescence, gradual adoption of new technology and learning by doing result in negative effects on measured productivity.
Book Synopsis How Strong are Fiscal Multipliers in the GCC? by : Mr.Raphael A. Espinoza
Download or read book How Strong are Fiscal Multipliers in the GCC? written by Mr.Raphael A. Espinoza and published by International Monetary Fund. This book was released on 2011-03-01 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: The effectiveness of fiscal policy in smoothing the impact of shocks depends critically on the size of fiscal multipliers. This is particularly relevant for the GCC countries given the need for fiscal policy to cushion the economy from large terms of trade shocks in the absence of an independent monetary policy and where fiscal multipliers could be weak dues to substantial leakages through remittances and imports. The paper provides estimates of the size of fiscal multipliers using a variety of models. The focus is on government spending since tax revenues are small. The long-run multiplier estimates vary in the 0.3-0.7 range for current expenditure and 0.6-1.1 for capital spending, depending on the particular specification and estimation method chosen. These estimates fall within the range of fiscal multiplier estimates in the literature for non-oil emerging markets.
Book Synopsis Selected Water Resources Abstracts by :
Download or read book Selected Water Resources Abstracts written by and published by . This book was released on 1969 with total page 1058 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Dynamic Disequilibrium Modeling: Theory and Applications by : William A. Barnett
Download or read book Dynamic Disequilibrium Modeling: Theory and Applications written by William A. Barnett and published by Cambridge University Press. This book was released on 1996-06-13 with total page 556 pages. Available in PDF, EPUB and Kindle. Book excerpt: . The organizers of the ninth symposium, which produced the current proceedings volume, were Claude Hillinger at the University of Munich, Giancarlo Gandolfo at the University of Rome "La Sapienza," A. R. Bergstrom at the University of Essex, and P. C. B. Phillips at Yale University.
Book Synopsis The Climate–Energy–Land Nexus in Indonesia by : Akihisa Mori
Download or read book The Climate–Energy–Land Nexus in Indonesia written by Akihisa Mori and published by Taylor & Francis. This book was released on 2023-12-13 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book extends the framework of the climate-energy-land nexus to elucidate political, economic, social, and institutional factors and causal mechanisms that stringent climate targets bring about, rather than mitigate a disproportional heavy burden on the forest sector in Indonesia. Assessing climate, energy, agricultural, forest, and transmigration policies, and REDD+ and biochar solutions through a multidisciplinary approach, ranging from biological, agricultural, technological, economic, and institutional lenses, the book identifies the political-economic and socio-technical regimes that cause the crosssectoral transfer of responsibility for greenhouse gas emissions to palm-oil-based biofuel, imposing an excess burden on the forest sector and accelerating indirect land-use change. It also proposes possible countermeasures for agricultural and forest sectors, reconfirming that technical applications and integrated policymaking should trigger the socioeconomic changes that will make transformative change happen in Indonesia. As an analysis of the success, or otherwise, of stringent climate targets, policies, and technological and non-technological measures on the reduction of greenhouse gases, this book will be of great interest to students and scholars in the fields of environment & sustainability, Asian studies, energy, environment and agriculture, forestry, and agriculture & environmental sciences. It will also appeal to practitioners and policymakers tackling net-zero emissions and land and forest governance.
Book Synopsis Gestation Lags and the Relationship Between Investment and Q in Regressions by : Jonathan N. Millar
Download or read book Gestation Lags and the Relationship Between Investment and Q in Regressions written by Jonathan N. Millar and published by . This book was released on 2005 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
