This volume compares strategic properties of the leading macroeconometric models of the United States. It summarizes the work of an ongoing seminar supported by the National Science Foundation and chaired by Lawrence R. Klein of the University of Pennsylvania. The Seminar meets three times annually. Comparisons are made across models for such characteristics as conventional multipliers (fiscal, monetary, and supply side shocks), J-curve response to dollar depreciation, and forecast performance under consistent assumptions. There are in-depth comparisons of some models and investigation of use...

This book delivers an unpopular message: the West has played a pivotal role in the Russian economic disaster of the 1990s. Western advisors, including the International Monetary Fund and the U.S. Treasury, applied a narrow conception of economics that pushed Russia, after more than seventy years of communism, toward another failed utopia. The twenty-six contributions to this book are divided into three parts: theory, evidence, and policy. Part One directly challenges orthodox economic theory for obscuring the necessary role of government in creating and sustaining a market system and features...

This book covers two years of research activities associated with Project LINK, which is based on a model of the world economy, covering 79 countries or regional groupings of countries. Papers dealing with interesting thematic issues were carefully selected and expanded into full articles. The subjects studied by various LINK participants for reporting at annual meetings include exchange rate systems, international investment, environmental protection, international economic institutions, LINK system improvements, and international economic policy. As always, there are contributions dealing...

The Japanese economy is beginning to show signs of recovery after years of stagnation/deflation. Production function studies and econometric model simulations suggest that with appropriate policies the Japanese economy can grow more rapidly. This book posi

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 study offers seven econometric models of the Chinese economy with the statistical data used, so that the reader should be able to reproduce them all and test them for any policy alternatives. The models presented have been produced both inside and outside China.