Economic Models: Methods, Theory and Applications PDF
Preview Economic Models: Methods, Theory and Applications
ECONOMIC MODELS Methods, Theory and Applications TThhiiss ppaaggee iinntteennttiioonnaallllyy lleefftt bbllaannkk ECONOMIC MODELS Methods, Theory and Applications editor Dipak Basu Nagasaki University, Japan World Scientific NEW JERSEY • LONDON • SINGAPORE • BEIJING • SHANGHAI • HONG KONG • TAIPEI • CHENNAI Published by World Scientific Publishing Co. Pte. Ltd. 5 Toh Tuck Link, Singapore 596224 USA office: 27 Warren Street, Suite 401-402, Hackensack, NJ 07601 UK office: 57 Shelton Street, Covent Garden, London WC2H 9HE British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library. ECONOMIC MODELS Methods, Theory and Applications Copyright © 2009 by World Scientific Publishing Co. Pte. Ltd. All rights reserved. This book, or parts thereof, may not be reproduced in any form or by any means, electronic or mechanical, including photocopying, recording or any information storage and retrieval system now known or to be invented, without written permission from the Publisher. For photocopying of material in this volume, please pay a copying fee through the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, USA. In this case permission to photocopy is not required from the publisher. ISBN-13 978-981-283-645-8 ISBN-10 981-283-645-4 Typeset by Stallion Press Email: [email protected] Printed in Singapore. Sherry - Economic Models.pmd 1 9/2/2009, 7:10 PM March16,2009 16:52 WSPC/TrimSize:9inx6in SPI-B692 EconomicModels b692-fm ThisVolumeisDedicatedtotheMemoryof Prof.TomOskarMartinKronsjo March16,2009 16:52 WSPC/TrimSize:9inx6in SPI-B692 EconomicModels b692-fm TThhiiss ppaaggee iinntteennttiioonnaallllyy lleefftt bbllaannkk March16,2009 16:52 WSPC/TrimSize:9inx6in SPI-B692 EconomicModels b692-fm Contents TomOskarMartinKronsjo:AProfile ix AbouttheEditor xiii Contributors xv Introduction xix Chapter1:MethodsofModelling:Mathematical 1 Programming Topic1:SomeUnresolvedProblemsofMathematical 3 Programming byOlavBjerkholt Chapter2:MethodsofModeling:Econometrics 21 andAdaptiveControlSystem Topic1:ANovelMethodofEstimationUnderCo-Integration 23 byAlexisLazaridis Topic2:TimeVaryingResponsesofOutputtoMonetary 43 andFiscalPolicy byDipakR.BasuandAlexisLazaridis Chapter3:MathematicalModelinginMacroeconomics 67 Topic1:TheAdvantagesofFiscalLeadershipinanEconomy 69 withIndependentMonetaryPolicies byAndrewHughesHallet Topic2:Cheap-TalkMultipleEquilibriaandPareto— 101 ImprovementinanEnvironmentalTaxationGames byChirstopheDeissenbergandPavelSˇevcˇ´ık vii March16,2009 16:52 WSPC/TrimSize:9inx6in SPI-B692 EconomicModels b692-fm viii Contents Chapter4:ModelingBusinessOrganization 119 Topic1:EnterpriseModelingandIntegration:Review 121 andNewDirections byNikitasSpirosKoutsoukis Topic2:TowardaTheoryofJapaneseOrganizationalCulture 137 andCorporatePerformance byVictoriaMiroshnik Topic3:HealthServiceManagementUsingGoalProgramming 151 byAnna-MariaMouza Chapter5:ModelingNationalEconomies 171 Topic1:InflationControlinCentralandEasternEuropean 173 Countries byFabrizioIaconeandRenzoOrsi Topic2:CreditandIncome:Co-IntegrationDynamics 201 oftheUSEconomy byAthanasiosAthanasenas Index 223 March16,2009 16:52 WSPC/TrimSize:9inx6in SPI-B692 EconomicModels b692-fm Tom Oskar Martin Kronsjo:A Profile LydiaKronsjo UniversityofBirmingham,England Tom Kronsjo was born in Stockholm, Sweden, on 16 August 1932, the only child of Elvira and Erik Kronsjo. Both his parents were gymnasium teachers. In his school days Tom Kronsjo was a bright, popular student, often a leader among his school contemporaries and friends. During his school years, he organized and chaired a National Science Society that became verypopularwithhisschoolcolleagues. From an early age, Tom Kronsjo’s mother encouraged him to learn foreignlanguages.Heputthesestudiestoagoodtestduringa1948summer vacationwhenhehitch-hikedthroughDenmark,Germany,theNetherlands, England, Scotland, Ireland, France, and Switzerland.The same yearTom Kronsjofoundedandchairedatechnicalsocietyinhisschool.Inthesummer vacation of 1949, Tom Kronsjo organized an expedition to North Africa by seven members of the technical society, their ages being 14–24. The youngpeopletraveledbycoachthroughtheausterepost-SecondWorldWar Europe. All the equipment for travel, including the coach, were donated by sympathetic individuals and companies, who were impressed by an intelligent,enthusiasticgroupofyoungsters,eagertolearnabouttheworld. ThiseventcaughtawideinterestintheSwedishpressatthattimeandwas vividlyreported. TomKronsjousedtomentionthatasaparticularlypersonallyexciting experienceofhisschoolyearsherememberedvolunteeringtogiveaseries ofmorningschoolsermonsontheneedfortheworldgovernmentalorgani- zations, which would encourage and support mutual understanding of the needsofthepeopletoliveinpeace. Tom Kronsjo’s university years were spent at both sides of the great divide.Preparinghimselfforacareerininternationaleconomics,hewanted to experience and see for himself the different nations’ways of life and pointsofview.HestudiedinLondon,Belgrade,Warsaw,Oslo,andMoscow, before returning to his home country, Sweden, to pass examinations and ix
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