Pub. Date:
Springer New York
Multisector Growth Models: Theory and Application / Edition 1

Multisector Growth Models: Theory and Application / Edition 1


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The primary objective of this book is to advance the state of the art in specifying and ?tting to data structural multi-sector dynamic macroeconomic models, and empirically implementing them. The fundamental construct upon which we build is the Ramsey model. A most attractive feature of this model is the insights it provides into the dynamics of an economy in tr- sition to long-run equilibrium. With some exceptions, Ramsey models are highly aggregated – typically single sector models. However, interest often lies in understanding the forces of e- nomic growth across multiple sectors of an economy and on how policy impacts likely play out over time. Such analyses call for moredisaggregatedmodelsthatcanbe?ttocountryorregional data.Thisbookshowshowto:(i)extendthebasicmodeltom- tiple sectors, (ii) how to adapt the basic model to account for policy instruments, and (iii) ?t the model to data, and obtain equilibrium values both forward and backward in time from the data points to which the model is initially ?t.

Product Details

ISBN-13: 9780387773575
Publisher: Springer New York
Publication date: 10/13/2009
Edition description: 2010
Pages: 330
Product dimensions: 6.10(w) x 9.25(h) x 0.03(d)

Table of Contents

Introduction: Orientation and Focus.- The Preliminaries.- The Two Sector Ramsey Model.- The Three-Sector Ramsey Model.- Extensions to the Three-Sector Model.- The Extended Three-Sector Model.- A Three-Sector #x2013; Two-Country World.- Data Issues and the Social Accounting Matrix.- Solution Methods in Transition Dynamics.

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