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Dynamic Factor Demand in a Rationing Context

Dynamic Factor Demand in a Rationing Context

Dynamic Factor Demand in a Rationing Context
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Dynamic Factor Demand in a Rationing Context Papeback -

by Werner Smolny

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Physica-Verlag , pp. 252 . Papeback. New.
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Details

  • Title Dynamic Factor Demand in a Rationing Context
  • Author Werner Smolny
  • Binding Papeback
  • Condition New
  • Pages 242
  • Volumes 1
  • Language ENG
  • Publisher Physica-Verlag
  • Publication date pp. 252
  • Illustrated Yes
  • Features Bibliography, Illustrated
  • Bookseller's Inventory # 658558472
  • ISBN 9783790807127 / 3790807125
  • Weight 0.79 lbs (0.36 kg)
  • Dimensions 9.21 x 6.14 x 0.53 in (23.39 x 15.60 x 1.35 cm)
  • Category Business / Economics / Finance
  • Library of Congress Catalogue Number 94144937
  • Dewey Decimal Code 330.1
  • Quantity available 4

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From the publisher

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.
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