Regional Econometric Modeling

ISBN-13: 9789401079662 / Angielski / Miękka / 2011 / 272 str.

M. Ray Perryman; James R. Schmidt

Opis

This book is the first volume of the International Series in Economic Model ing, a series designed to summarize current issues and procedures in applied modeling within various fields of economics and to offer new or alternative approaches to prevailing problems. In selecting the subject area for the first volume, we were attracted by the area to which applied modeling efforts are increasingly being drawn, regional economics and its associated subfields. Applied modeling is a broad rubric even when the focus is restricted to econometric modeling issues. Regional econometric modeling has posted a record of rapid growth during the last two decades and has become an established field of research and application. Econometric models of states and large urban areas have become commonplace, but the existence of such models does not signal an end to further development of regional econ ometric methods and models. Many issues such as structural specification, level of geographic detail, data constraints, forecasting integrity, and syn thesis with other regional modeling techniques will continue to be sources of concern and will prompt further research efforts. The chapters of this volume reflect many of these issues. A brief synopsis of each contribution is provided below: Richard Weber offers an overview of regional econometric models by discussing theoretical specification, nature of variables, and ultimate useful ness of such models. For an illustration, Weber describes the specification of the econometric model of New Jersey.

Spis treści

I Methodological Issues.- 1 Some Extensions and Refinements of Gottschalk’s Estimation of Production Functions.- 2 Regional Econometric Modeling and the New Jersey State Model.- II External Linkage Issues.- 3 Integrated State-Substate Econometric Modeling: Design and Utilization for Long-Run Economic Analysis.- 4 Linking Regional Economic Models for Policy Analysis.- 5 The Regional Business Cycle: A Theoretical Exposition with Time Series, Cross Sectional, and Predictive Applications.- 6 A Method for Analyzing the Changing Impact of the Business Cycle on Regional Economies.- III Data And Model Evaluation Issues.- 7 A General Framework for Interpolation, Distribution, and Extrapolation of a Time Series by Related Series.- 8 New Techniques for Determining If a Time Series Can Be Seasonally Adjusted Reliably.- 9 Regional Econometric Models: The Forecasting Record.