摘要:

Economic policy formation and the development of economic theory both rely ultimately upon empirical analysis for their direction and sustenance. Recent contributions from econometric theory suggest that the quality of the advice obtained from applied econometric research can be considerably improved by more systematic testing of empirical models. These new tests help identify both strengths and weaknesses of the models. Though fundamental economic theory and good knowledge of data are the primary ingredients of applied economic research, these new diagnostic tests are an important adjunct to existing methodology. This survey introduces the non‐specialist econometrician to diagnostic model testing, and thoughout emphasizes the heuristic rather than the mathematical underpinnings of the testing strateg

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1988.tb02044.x

出版商:Blackwell Publishing Ltd    

年代:1988

数据来源: WILEY

摘要:

Australian telecommunications pricing has developed in an environment which is uncompetitive, subject to pressures to cross‐subsidize and insufficiently cognizant of relevant costs and demands. STD and local call charges are too high and access charges too low. Compared with a structure which charged marginal usage costs and retrieved costs of subscribers' loops and overheads through access charges, the pricing structure has an estimated efficiency cost of about $240 m in 1985

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1988.tb02045.x

出版商:Blackwell Publishing Ltd    

年代:1988

数据来源: WILEY

摘要:

This paper considers the long‐run domestic and foreign effects of a domestic monetary expansion in a two‐country model in which the processes of capital accumulation at home and abroad interact with each other via international trade. We investigate the global stability conditions and their relationship with the comparative dynamic effects of a monetary expansion in the model. In particular, we show that under plausible global stability conditions the early analytical results obtained by Roberts (1978) and Shieh (1984) may be reversed in the two‐country

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1988.tb02046.x

出版商:Blackwell Publishing Ltd    

年代:1988

数据来源: WILEY

摘要:

The aim of this paper is to test the expectations theory of the term structure of interest rates in the Australian market for short‐term financial assets. The paper finds that the joint hypothesis of the expectations theory and zero (or a constant risk premium) cannot be rejected in the period since the introduction of the tender system for sale of government securities in 1979. The floating of the Australian dollar in 1983 did not alter the finding

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1988.tb02047.x

出版商:Blackwell Publishing Ltd    

年代:1988

数据来源: WILEY

摘要:

Using a CES utility function modified to allow for zero usage of one commodity, this paper calculates the relative difference between compensating and equivalent variation measures of the welfare loss due to withdrawal of a commodity, for various plausible values of the relevant demand function parameters (income elasticity, expenditure share and substitution elasticity). Contrary to what is frequently asserted these differences can be quite significant

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1988.tb02048.x

出版商:Blackwell Publishing Ltd    

年代:1988

数据来源: WILEY

摘要:

A sixth‐degree production function of Henderson and Quands (1958), that exhibits increasing and then decreasing returns to scale, is generalized to allow for non‐homotheticity as well as homotheticity. Although the long‐run function lacks the desirable short‐run attribute of the original function, it has the advantage that the cross‐marginal product is conventionally positive The simplicity and versatility of die HQ production function make it useful for computer simulations of long‐run competitive market equilibrium with a determinate numb

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1988.tb02049.x

出版商:Blackwell Publishing Ltd    

年代:1988

数据来源: WILEY

摘要:

Book reviewed in this article:Mesoeconomics: A Micro‐Macro Analysis, by Yew‐Kwang NgMarkets and Famines, by Martin RavallionThe Economics of Industrial Society, by Michio MorishimaDynamic Programming: Applications to Agriculture and Natural Resources, by John O.S. KennedyDevelopments of Control Theory for Economic Analysis, by C. Carrara and D. SartoreFinance of Old Age, edited by R. MendelsohnBalance of Payments Adjustment, 1945 to 1986, The IMF Experience, by M.G. dc VriesTakeovers and Corporate Control‐ Towards a New Regulatory Environment, Centre for Independent Studies and the New Zealand Centre for Independent StudiesFinancial Markets, Interest Rates and Monetary Economics, by D.J. JuttnerPre‐Classical Economic Thought, edited by S.T. Lowry, Recent Economic Though

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1988.tb02050.x

出版商:Blackwell Publishing Ltd    

年代:1988

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1988.tb02051.x

出版商:Blackwell Publishing Ltd    

年代:1988

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1988.tb02052.x

出版商:Blackwell Publishing Ltd    

年代:1988

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1988.tb02053.x

出版商:Blackwell Publishing Ltd    

年代:1988

数据来源: WILEY