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This volume contains selected papers of Lawrence R Klein in economics, econometric theory and applications in modeling, forecasting, macroeconomic analysis, international economics and public policy. Nobel Laureate Lawrence Klein's bibliography spans a half-century, including books, articles, and chapters in conference proceedings, festschriften, and thematic books. One such volume of solely scientific collections, mainly from his relatively early articles, has already been published. The present volume is different, it includes some articles, but largely chapters, or book excerpts that were mostly written since 1980, the approximate cut-off date of the prior volume, and the year of his Nobel Prize. Also, it includes things that were published in very limited or obscure editions. Thus it provides a more complete picture of his scholarly career and his current reflections on the state of economic science. All these writings are in the vanguard of thinking about economics in a global domain.The thirty-five-plus selections are organized in five parts, by major themes. An editorial commentary introduces each part. The introductory chapters include Klein's autobiographical research commentary, and his professional life philosophy.
Global econometric models have a long history. From the early 1970s to the present, as modeling techniques have advanced, different modeling paradigms have emerged and been used to support national and international policy making. One purpose of this volume — based on a conference in recognition of the seminal impact of Nobel Prize winner in Economic Sciences Lawrence R Klein, whose pioneering work has spawned the field of international econometric modeling — is to survey these developments from today's perspective.A second objective of the volume is to shed light on the wide range of attempts to broaden the scope of modeling on an international scale. Beyond new developments in traditional areas of the trade and financial flows, the volume reviews new approaches to the modeling of linkages between macroeconomic activity and individual economic units, new research on the analysis of trends in income distribution and economic wellbeing on a global scale, and innovative ideas about modeling the interactions between economic development and the environment.With the expansion of elaborated economic linkages, this volume makes an important contribution to the evolving literature of global econometric models.
This book presents Professor Lawrence R Klein and his group's last quarterly econometric model of the United States economy that they had produced at the University of Pennsylvania. This is the last econometric model that Lawrence Klein and his disciples have left after some 50 years of cumulated efforts of constructing the US economy model up to around 2000. It was widely known as the WEFA Econometric Model Mark 10, and is the culmination of Professor Klein's research which spans more than 70 years, and would please not only Professor Klein's old students and colleagues, but also younger students who have heard so much of Klein models but have yet to see the latest model in its complete and printed form.
"The array of contributions offered in this volume on the growth of economics, is comprehensive. There are sufficient number of ideas and perspectives about economic theories to whet the appetite of the most scholars or readers. Others, more inclined to welcome efforts to explain economic phenomena, will find a diversity of interpretations of events which should be sufficient to stimulate the imagination as well as the understanding of policy choices." "The book offers insights about developments in economic theory and modes of analysis during the twentieth century and earlier." --Book Jacket.
The book describes the structure of the Keynes-Leontief Model (KLM) of Japan and discusses how the Japanese economy can overcome the long-term economic deflation that has taken place since the mid-1990s. The large-scale econometric model and its analysis have been important for planning several policy measures and examining the economic structure of a country. However, it seems that the development and maintenance of the KLM would be very costly. The book discusses how the KLM is developed and employed for the policy analyses.
This book offers the representative macroeconometric models and their applications for the Japanese economy in different development stages throughout the postwar years up to the present. It presents a summary of three types of macroeconometric models and analyses:As many Asian economies are going through the stages of development that Japan has experienced over the past few decades, this book will be extremely relevant to them and other developing countries as a reference for years to come.
This is the very first book to offer seven substantial econometric models of the Chinese economy with the statistical data used, so that the reader will be able to reproduce them all and test them for any policy alternatives.The book presents up-to-date models produced both inside and outside China, so that readers can understand most of the advanced studies of the Chinese economy by Chinese experts at the present time. This is an invaluable reference for graduate students and scholars working on Chinese economic problems.
The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.
This book presents pioneering work on an interregional input-output table of the Chinese economy and its applications to the analysis of interregional and interindustrial relations in China. It is the fruit of the authors' joint efforts of more than five years to establish a solid basis for the analysis of interregional relations in China, in the hope of laying the foundation for further studies of regional development in that country.The book endeavors to make a contribution to the regional typology of the Chinese economy. The Chinese provinces are classified into seven large regions. The interregional input-output table is constructed accordingly.Chapter I describes the methodology for producing this interregional input-output (IRIO) table. Chapter II presents the (IRIO) table after a brief explanation of the Chinese statistical data needed for the compilation of the table. Chapter III explains the basis of seven large regions adopted for the IRIO table. Chapter IV deals with the interdependence of regions and the effects of the changes in some parameters of one region on the activities in other regions. Chapter V, the last chapter, applies the IRIO table to policy analysis.
Warren J. Samuels has been a prominent figure in the study of economics in the twentieth century. This book brings together essays by leading scholars in the areas of economics in which Samuels has made his most important contributions: the history of economic thought, economic methodology, and institutional and post-Keynesian economics. This work is designed to give the reader a sense of the breadth and possibilities of economics. The essays, all published here for the first time, investigate issues such as: The institutional structures that shape economic activity and performance. The variety of approaches to economic analysis. The importance of the history of the discipline both inherently and for the study of economics in the modern age. With essays from leading scholars, collected and introduced by some of the most eminent authorities in the field, the work is a formidable volume, and one fit to honor one of the most renowned economists of our age.