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" Regime transitions, spillovers and buffer stocks : "
Peter Stalder
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BL
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| Record Number
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716995
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b536679
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| Main Entry
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Peter Stalder
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| Title & Author
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Regime transitions, spillovers and buffer stocks : : Analysing the Swiss economy by means of a disequilibrium model\ Peter Stalder
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| Publication Statement
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Berlin: Springer-Verlag, 1991
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| Series Statement
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Lecture notes in economics and mathematical systems, 360
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| Page. NO
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193 sider
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| ISBN
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3540540563
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: 9783540540564
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| Contents
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1. Introduction.- 1.1 Alternative theories of macroeconomic fluctuations.- 1.2 Assessment of the controversy - Motivation of the present study.- 1.3 Scope and limitations of the investigation.- 1.4 Set-up of the paper.- 2. The Micro Model.- 2.1 Spillovers and transactions.- 2.2 Discussion of the spillover elasticities.- 2.3 Regimes.- Appendix: Comparision with other spillover-formulations.- 3. Derivation of the Aggregate Model.- 3.1 Aggregation.- 3.2 Introduction of error terms.- 3.3 Adopting an econometrically tractable approximation.- 3.4 Accuracy of the approximation.- 4. Modified Version: Buffer Role of Inventories and Unfilled Orders.- 5. Specification of the Aggregate Econometric Equations.- 5.1 Labor supply.- 5.2 Demand for domestic output.- 5.3 Notional labor demand, notional goods supply and investment.- 5.3.1 Preliminaries.- 5.3.2 Malinvaud's investment model.- 5.3.3 Adopting a vintage-approach.- 5.3.4 Scrapping of old equipment.- 6. Structure of the Model, Method of Estimation and Dynamic Ncxtensions.- 6.1 Allowing for a trend in labor market mismatch.- 6.2 Summary of the model.- 6.3 Method of estimation.- 6.4 Labor hoarding, partial adjustment and error correction dynamics.- 7. Estimation results.- 7.1 Empirical versions - Models 1 to 4.- 7.2 Model 1: No buffer stocks, `static' labor hoarding.- 7.3 Model 2: No buffer stocks, dynamic labor hoarding.- 7.4 Model 3: Allowing for buffer stocks.- 7.5 Model 4: Inclusion of the investment equation.- 7.6 Interpreting Model 4 - Testing a priori parameter restrictions.- 7.7 Intertemporal substitution in labor supply - Comparison with other studies.- 8. Testing Parameter Stability.- 9. Simulations.- 9.1 Fit of the model (static simulation).- 9.2 Development of the Swiss economy: Regimes and spillovers.- 9.3 The Swiss labor market - A miracle?.- 9.4 Dynamic tracking performance.- 9.5 Simulating short-run and long-run effects of autonomous changes, assessing dynamic stability.- 9.5.1 Short-term impact of a demand shock (Keynesian demand stimulation).- 9.5.2 Reference simulation for examining long-run effects.- 9.5.3 Checking for dynamic stability.- 9.5.4 Long-run effects of permanent and single-period demand shocks.- 9.5.5 Simulation of a permanent wage (and price) reduction.- 10. Summary and Conclusions.- References.
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| Subject
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Equilibrium (Economics) -- Mathematical models
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| Subject
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Switzerland -- Economic conditions -- 1945- -- Econometric models
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| Subject
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Switzerland -- Economic policy -- Econometric models
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| LC Classification
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HC397.P484 1991
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| Added Entry
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Peter Stalder
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