Integrated Macro-Micro-Modelling Under Rational Expectations: With an Application to Tariff Reform in Australia

Integrated Macro-Micro-Modelling Under Rational Expectations: With an Application to Tariff Reform in Australia

by Michael Malakellis

Paperback(Softcover reprint of the original 1st ed. 2000)

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Product Details

ISBN-13: 9783790812749
Publisher: Physica-Verlag HD
Publication date: 03/30/2000
Series: Contributions to Economics
Edition description: Softcover reprint of the original 1st ed. 2000
Pages: 280
Product dimensions: 6.10(w) x 9.25(h) x 0.36(d)

Table of Contents

Introduction: Scope and Purpose: Introduction.- State of the Art.- Contributions of this Book.- Organisation of the Remainder of this Book.- An Overview of ORANI-INT: Introduction.- Nomenclature of Intertemporal Modelling.- The Structure of ORANI-INT.- Chapter Summary.- The Theoretical Structure of ORANI-INT: Introduction.- Industry Behavior.- Final Demands.- Zero Pure Profits Conditions.- Market Clearing Conditions.- Miscellaneous Equations.- Chapter Summary.- Appendices: The Log-Linear Form of the ORANI-INT Equation System; The Intertemporal Budget Constraint; Alternative Investment Specifications, The Implications of the Irreversibility Constraint of Investment; A Note on Divisia Indexes.- Solution Method: Introduction.- Alternative Solution Methods.- The ORANI-INT Solution Algorithm.- Modelling Sign Constraints.- Chapter Summary.- Generating the Control Path Solution: Introduction.- Constructing an Intertemporal Base Solution.- The Control Scenarios.- Chapter Summary.- Appendix: The ORANI-13 Database.- ORANI-INT's Simulation Properties with and without Forward-Looking Behavior: Introduction.- An Overview of the Illustrative Experiments.- Interpretation of Results.- The Benchmark Experiment.- The Full Intertemporal Experiment.- The Surprise Experiment.- Chapter Summary.- Should Tariff Reductions be Announced?: Introduction.- Simulating the Tariff Reduction Strategies.- Simulation Results.- Summary and Conclusions.- Summary and Conclusions: Introduction.- Model Development.- Applications.- An Agenda for Future Research.- Final Comments.

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