A System-Wide Analysis of International Consumption Patterns PDF Download

Author: S. Selvanathan
Publisher: Springer Science & Business Media
ISBN: 9401119686
Category : Business & Economics
Languages : en
Pages : 360

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Book Description
The modern system-wide approach to applied demand analysis emphasizes a unity between theory and applications. Its fIrm foundations in economic theory make it one of the most impressive areas of applied econometrics. This book presents a large number of applications of recent innovations in the area. The database used consist of about 18 annual observations for 10 commodities in 18 OECO countries (more than 3,100 data points). Such a large body of data should provide convincing evidence, one way or the other, about the validity of consumption theory. A PREVIEW OF THE BOOK The overall importance of the analysis presented in the book can be seen from the following table which shows the signifIcant contribution of the OECO to the world economy. As can be seen, the 24 member countries account for about 50 percent of world GOP in 1975. In this book we present an extensive analysis of the consumption patterns of the OECO countries.

Author: Romans Pancs
Publisher: MIT Press
ISBN: 0262038188
Category : Business & Economics
Languages : en
Pages : 339

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Book Description
Economic concepts and techniques presented through a series of "big questions," models that show how to pose a questions rigorously and work toward an answer. This book helps readers master economic concepts and techniques by tackling fundamental economic and political questions through a series of models. It is organized around a sequence of “big questions,” among them: When do markets help translate individuals' uncoordinated, selfish actions into outcomes that are best for all? Do markets change people, and, if so, for worse or better? Translated into the language of modern economics, do Marx's ideas have merit? Why is there so much income inequality? Or is there too little? The arguments are in the theorem-proof format, distinguishing results derived in the context of fully specified models from educated speculation. Readers will learn how to pose a question rigorously and how to work toward an answer, and to appreciate that even (especially!) the broadest and most ambitious questions call for a model. The goal of the book is not to indoctrinate but to show readers how to reason toward their own conclusions. The first chapter, on the Walrasian model of general equilibrium, serves as the prerequisite for the rest of the book. The remaining chapters cover less conventional topics, including the morality of markets; matching theory; Marxism, socialism, and the resilience of markets; a formalization of Kant's categorical imperative; unintended consequences of policy design; and theories of justice. The book can be used as a textbook for advanced undergraduate or graduate students or as a resource for researchers in disciplines that draw on normative economics.

Author: B. Raj
Publisher: Springer Science & Business Media
ISBN: 9401125465
Category : Business & Economics
Languages : en
Pages : 583

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Book Description
PREFACE TO THE COLLECTION PREAMBLE The editors are pleased to present a selection of Henri Theil's contributions to economics and econometrics in three volumes. In Volume I we have provided an overview of Theil's contributions, a brief biography, an annotated bibliography of his research, and a selection of published and unpublished articles and chapters in books dealing with topics in econometrics. Volume IT contains Theil's contributions to demand analysis and information theory. Volume ITI includes Theil's contributions in economic policy and forecasting, and management science. The selection of articles is intended to provide examples of Theil's many seminal and pathbreaking contributions to economics in such areas as econometrics, statistics, demand analysis, information theory, economic policy analysis, aggregation theory, forecasting, index numbers, management science, sociology, operations research, higher education and much more. The collection is also intended to serve as a tribute to him on the occasion of his 67th birthday.! These three volumes also highlight some of Theil's contributions and service to the profession as a leader, advisor, administrator, teacher, and researcher. Theil's contributions, which encompass many disciplines, have been extensively cited both in scientific and professional journals. These citations often place Theil among the top 10 researchers (ranked according to number of times cited) in the world in various disciplines.

Author: John P. Burkett
Publisher: Oxford University Press
ISBN: 0199924090
Category : Business & Economics
Languages : en
Pages : 345

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Book Description
In this book, John P. Burkett presents microeconomics as an evolving science, interacting with mathematics, psychology, and other disciplines and offering solutions to a growing range of practical problems. The book shows how early contributors such as Xenophon, Ibn Khaldun, and David Hume posed the normative and positive questions central to microeconomics. It expounds constrained optimization techniques, as developed by economists and mathematicians from Daniel Bernoulli to Leonid Kantorovich, emphasizing their value in deriving norms of rational behavior and testable hypotheses about typical behavior. Applying these techniques, the book introduces partial equilibrium analysis of particular markets and general equilibrium analysis of market economies. The book both explains how laboratory and field experiments are used in testing economic hypotheses and provides materials for classroom experiments. It gives extensive and innovative coverage of recent findings in cognitive psychology and behavioral economics, which not only document behavior inconsistent with some traditional theories, but also advance positive theories with superior predictive power.

Author: E. Klein
Publisher: Springer
ISBN: 0230377645
Category : Business & Economics
Languages : en
Pages : 245

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Book Description
An examination of the foundations of contemporary theoretical economics. Applying concepts from model theory - formal semantics - and standard tools in foundations research the author aims three targets, namely, a characterization of the notion 'empirical economic theory', the determination of the epistemological and methodological status of an important class of 'non-empirical' theories in economics, and the proposal of a taxonomy of economic theories based upon intended epistemological status and the descriptive or operative function of a theory.

Author: E.A. Selvanathan
Publisher: Springer Science & Business Media
ISBN: 364285205X
Category : Business & Economics
Languages : en
Pages : 418

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Book Description
The study of consumer demand is important for a number of reasons. First, as total consumption absorbs more than 70 percent of GDP in most countries, it is the largest of the macroeconomic aggregates, thus having great significance for the state of the economy as a whole and business conditions. Second, the pattern of consumption contains a wealth of useful information regarding economic welfare and living standards. Closely allied to this is that as consumption (both current and future) is the ultimate objective of all economic activity and economic systems (mercantilists notwithstanding), in a fundamental sense consumption patterns are an objective way of measuring and assessing economic performance. Finally, an understanding of the price-responsiveness of consumption is of crucial importance for a host of microeconomic policy issues including public-utility pricing, the measurement of distortions, optimal taxation and the treatment of externalities. The analysis of consumer demand is one of the major successes of economics as it represents the near perfect marriage of theory and econometrics, a situation almost unparalleled in any other field of economics. This field has attracted a lot of attention since the introduction of the linear expenditure system and its application to British data by Stone (1954), followed by the differential demand system of Barten (1964) and Theil (1965, 1975176, 1980) and developments thereafter.

Author: Javaid R. Khwaja
Publisher: iUniverse
ISBN: 1475997388
Category : Business & Economics
Languages : en
Pages : 595

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Book Description
The new economy, under the impetus of the ever-widening outreach of the Internet, is undergoing a transition. In the meantime, there's also been a shift to the information paradigm, with its emphasis on lack of foresight. These processes have almost completely supplanted the concept of market that was once one of the most cardinal features of conventional economic theory. In Toward a General Theory of Exchange: Strategic Decisions and Complexity, author Dr. Javaid R. Khwaja traces the slow melting of the market, the most ubiquitous contraption and the summum bonum of economic science, as an organized manifestation of complexity, with its wide-ranging impact on the flow of funds. Using the historical background of economic theories, this study blends the interdisciplinary range and fills the vacuum that has existed among current conventional economic theory, the theory of strategic decision making, actor-network theory, the domain of law and economics, and the science of complexity. An observer of economic development for several decades, Khwaja shows the relationship between technology and economics and how it affects social exchanges and trends.

Author: E. Antony Selvanathan
Publisher: World Scientific
ISBN: 9789812795656
Category : Business & Economics
Languages : en
Pages : 360

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Book Description
This book presents an analysis of consumption patterns in the OECD (rich) and LDC (poor) countries using recent data (1950OCo1998) and econometric methodology for a number of broadly aggregated consumer goods. The income elasticity estimates for the 46 countries and 9 commodity groups are tabulated. The reliability of these elasticity estimates, and also the demand theory hypotheses, are investigated using simulation techniques. Contents: An Overview of International Consumption Patterns (E A Selvanathan & S Selvanathan); Consumer Demand Models (E A Selvanathan & S Selvanathan); Data Analysis: OECD Countries (E A Selvanathan & S Selvanathan); Data Analysis: Less Developed Countries (E A Selvanathan & S Selvanathan); A Comparison of Consumption Patterns in the OECD and LD Countries (E A Selvanathan & S Selvanathan); Stochastic Price and Quantity Index Numbers (E A Selvanathan & S Selvanathan); Testing Demand Theory Hypotheses: OECD and LD Countries (E A Selvanathan & S Selvanathan); A Comparison of Alternative Demand Systems (E A Selvanathan & S Selvanathan); The Structure of Preferences: OECD and LD Countries (E A Selvanathan & S Selvanathan). Readership: Economists."

Author: Daniel Slottje
Publisher: Emerald Group Publishing
ISBN: 1848553129
Category : Business & Economics
Languages : en
Pages : 410

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Book Description
Demand studies and understanding consumer behavior remain two of the most important areas of analysis by practicing applied economists and econometricians. This book presents research on the estimation of demand systems and the measurement of consumer preferences.

Author: Grant MacDonald Scobie
Publisher: Intl Food Policy Res Inst
ISBN: 9780896290303
Category : Social Science
Languages : en
Pages : 92

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Book Description
Research report on food policy and wheat imports in Egypt - examines the historical background to, and recent trends in wheat policy; describes an econometric model of wheat imports; discusses economic implications for food policy. Bibliography, graphs, statistical tables.