Dynamic Factor Demand in a Rationing Context is popular PDF and ePub book, written by Werner Smolny in 2012-12-06, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Dynamic Factor Demand in a Rationing Context can be Read Online from any device for your convenience.
Dynamic Factor Demand in a Rationing Context Book PDF Summary
A macroeconomic disequilibrium model is developed for the Federal Republic of Germany. Starting with a microeconomic model of firm's behaviour, the optimal dynamic adjustment of employment and investment is derived. The model of the firm is complemented by an explicite aggregation procedure which allows to derive macroeconomic relations. The model is estimated with macroeconomic data for the Federal Republic of Germany. An important feature is the consistent introduction of dynamic adjustment into a model of the firm. A new method is the particular approach of a delayed adjustment of employment and investment. The estimation results show significant underutilizations of labour and capital and indicate the importance of supply constraints for imports and exports. As the most prominent result, they reveal the importance of the slow adjustment of employment and investment for the macroeconomic situation in Germany and especially for the persistence of high unemployment in the eighties.
Detail Book of Dynamic Factor Demand in a Rationing Context PDF
- Author : Werner Smolny
- Release : 06 December 2012
- Publisher : Springer Science & Business Media
- ISBN : 9783642515125
- Genre : Business & Economics
- Total Page : 248 pages
- Language : English
- PDF File Size : 12,6 Mb
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