Economic Models: Methods, Theory And Applications

by Dipak R Basu

Overview

Model Building is the most fruitful area of economics, designed to solve real-world problems using all available methods such as mathematical, computational and analytical, without distinction. Wherever necessary, we should not be reluctant to develop new techniques, whether mathematical or computational. That is the philosophy of this volume.The volume is divided into three distinct parts: Methods, Theory and Applications. The Methods section is in turn subdivided into Mathematical Programming and Econometrics and Adaptive Control System, which are widely used in econometric analysis. The impacts of fiscal policy in a regime with independent monetary authority and dynamic models of environmental taxation are considered.In the section on “Modelling Business Organization”, a model of a Japanese organization is presented. Furthermore, a model suitable for an efficient budget management of a health service unit by applying goal programming method is analyzed, taking into account various socio-economic factors. This is followed by a section on “Modelling National Economies”, in which macroeconometric models for the EU member countries are analyzed, to find instruments that stabilize inflation with coordinated action.

Product Details

ISBN-13:	9789812836458
Publisher:	World Scientific Publishing Company, Incorporated
Publication date:	04/20/2009
Pages:	248
Product dimensions:	6.00(w) x 9.00(h) x 0.80(d)

Table of Contents

A Profile Tom Oskar Martin Kronsjo ix

About the Editor xiii

Contributors xv

Introduction xix

Chapter 1 Methods of Modelling: Mathematical Programming 1

Topic 1 Some Unresolved Problems of Mathematical Programming Olav Bjerkholt 3

Chapter 2 Methods of Modeling: Econometrics and Adaptive Control System 21

Topic 1 A Novel Method of Estimation Under Co-Integration Alexis Lazaridis 23

Topic 2 Time Varying Responses of Output to Monetary and Fiscal Policy Dipak R. Basu Alexis Lazaridis 43

Chapter 3 Mathematical Modeling in Macroeconomics 67

Topic 1 The Advantages of Fiscal Leadership in an Economy with Independent Monetary Policies Andrew Hughes Hallet 69

Topic 2 Cheap-Talk Multiple Equilibria and Pareto - Improvement in an Environmental Taxation Games Christophe Deissenberg Pavel &Scheck;ev&ccheck;ík 101

Chapter 4 Modeling Business Organization 119

Topic 1 Enterprise Modeling and Integration: Review and New Directions Nikitas Spiros Koutsoukis 121

Topic 2 Toward a Theory of Japanese Organizational Culture and Corporate Performance Victoria Miroshnik 137

Topic 3 Health Service Management Using Goal Programming Anna-Maria Mouza 151

Chapter 5 Modeling National Economies 171

Topic 1 Inflation Control in Central and Eastern European Countries Fabrizio Iacone Renzo Orsi 173

Topic 2 Credit and Income: Co-Integration Dynamics of the US Economy Athanasios Athanasenas 201

Index 223