Gandolfo/Padoan,A DISEQUILIBRIUM MODEL OF REAL AND FINANCIAL ACCUMULATION,1984

Giancarlo Gandolfo, Pietro Carlo Padoan,
A DISEQUILIBRIUM MODEL OF REAL AND FINANCIAL
ACCUMULATION IN AN OPEN ECONOMY.
Theory, Evidence, and Policy Simulations.
Springer-Verlag, Berlino 1984,
brossura, 17x24 cm., pp.172,
Collana Lecture Notes in Economics
and Mathematical Systems,
testo in inglese,
peso: g.300
cod.3341
CONDIZIONI DEL LIBRO: buone,
minime imperfezioni alla copertina,
pagine ingiallite,
sottolineature e note a matita
nel primo capitolo



CONTENTS
PREFACE
Chapter 1
METHODOLOGICAL PROBLEMS 1
1.1 Why "Small" Models 1
1.2 Why Continuous Models 4
1.3 Plan of the Book 11
Chapter 2
THE MODEL 13
2.1 An Overwiew 13
2.2 The Single Equations 14
2.2.1 The Real Sector 19
2.2.2 The Price and Wage Sector 24
2.2.3 The Financial Sector 26
2.2.4 Policy Reaction Functions 29
2.2.5 Final Considerations 34
2.3 Steady-state, Comparative Dynamics, Stability, and Sensi-
tivity 36
Chapter 3
EMPIRICAL RESULTS 42
3.1 Parameter Estimates 42
3.1.1 Adjustment Parameters 43
3.1.2 Elasticities and Other Parameters 51
3.2 Stability and Sensitivity 62
3.3 Predictive Performance 71
Chapter 4
POLICY SIMULATIONS 77
4.1 Introduction 77
4.2 Antiinflationary Policies 78
4.3 Endogenous Exchange Rate Determination 101
4.4 Exogenous Variables Behaviour Altered 108
4.5 Global Strategies 113
APPENDIX I 126
I.1 Derivation of the Steady-state and Comparative Dynamics
Results 126
I.2 Linearization about the Steady-state 133
I.3 On the Elimination of Y 142
APPENDIX II
144
II. 1 Data Sources and Definitions 144
II.1.1 Sources of Data 144
II.1.2 Definition of Series 144
II.2 On the Endogenous Estimation of Productivity 147
II.3 Simulation Procedures 148
II.4 Whither Simulations? 153
REFERENCES 158
AUTHOR INDEX 167
SUBJECT INDEX 169