Dynamic Modeling and Applications for Global Economic Analysis.
This book presents the technical aspects of an economic model used to examine issues of global economic significance.
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| Format: | Electronic eBook |
| Language: | English |
| Published: |
Cambridge :
Cambridge University Press,
2012
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| Local Note: | ProQuest Ebook Central |
Table of Contents:
- Cover; DYNAMIC MODELING AND APPLICATIONS FOR GLOBA LECONOMIC ANALYSIS; Title; Copyright; Contents; Contributors; Acknowledgments; PART I: INTRODUCTION AND OVERVIEW; ONE; Introduction: Elena I. Ianchovichina; 1. Motivation for the GDyn; 2. Data for GDyn; 3. Model and Software; 4. Short Course in Dynamic Global Economic Analysis; 5. Overview of the Book; 6. Reader's Guide; References; PART II: STRUCTURE OF THE DYNAMIC GTAP FRAMEWORK; TWO; Theoretical Structure of Dynamic GTAP; 1. Introduction; 2. Time; 2.1 The Discrete-Time Approach; 2.2 The Continuous-Time Approach; 3. Capital Accumulation.
- 4. Financial Assets and Associated Income Flows4.1 General Features; 4.2 Notation; 4.3 Asset Accumulation; 4.4 Assets and Liabilities of Firms and Households; 4.5 Assets and Liabilities of the Global Trust; 4.6 Income from Financial Assets; 5. Investment Theory; 5.1 The Required Rate of Growth in the Rate of Return; 5.2 The Expected Rate of Growth in the Rate of Return; 5.3 Adaptive Expectations; 5.4 The Normal Rate of Growth in the Capital Stock; 5.5 Summary; 5.6 Alternative Investment Determination; 6. Properties and Problems; 6.1 Long-Run Equilibrium.
- 6.2 Cumulative and Comparative Dynamic Results6.3 Path Dependence; 6.4 One-Way Relations; 6.5 Capital Account Volatility and the Propensity to Save; 7. Concluding Remarks; References; THREE; Behavioral and Entropy Parameters in the Dynamic GTAP Model; 1. Introduction; 2. Parameters Determining Lagged Adjustments; 2.1 Data; 2.2 Convergence of Rates of Return to Capital; 2.3 Calibration of Lagged Adjustment Parameters; 3. Elasticity of Rate of Return to Capital with Respect to Capital Stock; 4. Parameters Determining Composition of Wealth and Capital in a Region; 4.1 Econometric Model and Data.
- 4.2 Empirical Results4.3 Rigidity Parameters; 4.4 Aggregation Issues; 5. Conclusions and Summary; References; FOUR; An Overview of the Dynamic GTAP Data Base The Data Base Construction and Aggregation Programs; 1. Introduction; 2. The GDyn Data File; 2.1 Income and Saving; 2.2 Normal Rates of Growth in Capital Stocks; 2.3 Target Rate of Return; 3. Parameters; 3.1 INC; 3.2 Lagged Adjustment Parameters; 3.3 Flexibility of the Gross Rate of Return; 3.4 Rigidity Parameters; 4. Creating Aggregations of the GDyn Data Base and Parameters; 4.1 KHAT; 4.2 RORGFLEX; 4.3 LAMBRORGE; 4.4 LAMBRORG.
- 4.6 RIGWQH4.7 RIGWQ F; References; FIVE; A Baseline Scenario for the Dynamic GTAP Model; 1. Introduction; 2. Macroeconomic Projections; 2.1 Sources of Projections; Projections; Other Data Required; 2.2 Missing Data; Gross Domestic Product, Gross Domestic Investment, and Population; Labor Projections; Total Labor Force Projections; Skilled Labor Projections; Unskilled Labor Projections; 3. Changes in Policy on the Baseline; 3.1 Data Sources; 3.2 The Policy Agreements; Uruguay Round; China's Pre-WTO Tariff Cuts; Quotas; 4. Implementing the Baseline; 4.1 Aggregation; 4.2 Closure.
