Førsund / Longva / Hoel Production, Multi-Sectoral Growth and Planning

Essays in Memory of Leif Johansen
1. Auflage 2014
ISBN: 978-1-4832-9748-4
Verlag: Elsevier Science & Techn.
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, Band Volume 154, 354 Seiten, Web PDF

Reihe: Contributions to Economic Analysis

Professor Leif Johansen's contributions to economic science are well documented in his articles and essays for economic journals, symposium volumes and Festschrifts, all of which are to be published by North-Holland. When initiating the idea of this collection, Professor Dale W. Jorgenson also suggested a memorial volume by associates and others that would include papers devoted to research topics directly inspired by Leif Johansen. In the present volume this idea is realised. Three topics are covered: production theory, multisectoral growth models and planning. The papers presented here were either under work at the time of Leif Johansen's death or prepared especially for this volume.

Autoren/Hrsg.

Førsund, F. R.

Longva, S.

Hoel, M.

Inhaltsverzeichnis

1;Front Cover;1
2;Production, Multi-Sectoral Growth and Planning: Essays in Memory of Leif Johansen;4
3;Copyright Page;5
4;Table of Contents ;12
5;Introduction to The Series;6
6;EDITORS' PREFACE;8
7;CHAPTER 1. LEIF JOHANSEN'S CONTRIBUTIONS TO THE THEORY OF PRODUCTION, PLANNING, AND MULTISECTORAL GROWTH;18
7.1;1. Production theory;18
7.2;2. Multisectoral models and macroeconomic planning;23
7.3;References;25
8;CHAPTER 2. AN INTERCOUNTRY COMPARISON OF CEMENT PRODUCTION: THE SHORT-RUN PRODUCTION FUNCTION APPROACH;28
8.1;1. Introduction;28
8.2;2. The construction of the short - run industry production function;31
8.3;3. The activity regions;34
8.4;4. Data;37
8.5;5. Individual country analyses;41
8.6;6. Intercountry comparisons;48
8.7;7. Tentative conclusions;55
8.8;References;56
9;CHAPTER 3. ESTIMATION OF THE CAPACITY DISTRIBUTION OF AN INDUSTRY: THE SWEDISH DAIRY INDUSTRY 1964-1973;60
9.1;1. Introduction;60
9.2;2. The distribution approach;61
9.3;3. Estimation of the capacity distribution;63
9.4;4. The beta - capacity distribution;64
9.5;6. Concluding remarks;72
9.6;Appendix 1;73
9.7;Appendix 2;75
9.8;Appendix 3;76
9.9;Notes;77
9.10;References;79
10;CHAPTER 4. PROPERTIES OF PRODUCTION AND PROFIT FUNCTIONS ARISING FROM THE AGGREGATION OF A CAPACITY DISTRIBUTION OF MICRO UNITS;82
10.1;Part I. Survey of results;82
10.2;Part II. Precise definitions and results;87
10.3;Appendix;99
10.4;References;101
11;CHAPTER 5. FLUCTUATIONS AND FACTOR PROPORTIONS: PUTTY-CLAY INVESTMENTS UNDER UNCERTAINTY;104
11.1;1. Introduction;104
11.2;2. Plant design and capacity utilization;106
11.3;3. Optimal plant designs;108
11.4;4. The impact of fluctuations;111
11.5;5. Economic interpretations;113
11.6;6. Concluding remarks;122
11.7;Appendix;122
11.8;Notes;123
11.9;References;124
12;CHAPTER 6. THE INTERPLAY BETWEEN SECTORAL MODELS BASED ON MICRO DATA AND MODELS FOR THE NATIONAL ECONOMY;126
12.1;1. Introduction;126
12.2;2. Micro–based models for one sector;128
12.3;3. The interaction between sectoral models and models for the national economy;132
12.4;4. Some further considerations;136
12.5;Notes;139
12.6;References;140
13;CHAPTER 7. EXTENSIONS AND APPLICATIONS OF THE MSG–MODEL: A BRIEF SURVEY;144
13.1;1. Introduction;144
13.2;2. A stylized version of the MSG–model;145
13.3;3. The MSG–model and the development of CGE–modelling;153
13.4;4. Extensions of the MSG–model;160
13.5;5. Concluding remarks;169
13.6;Appendix;172
13.7;Notes;173
13.8;References;174
14;CHAPTER 8. A VERSION OF THE MSG–MODEL WITH PUTTY–CLAY AND VINTAGE TECHNOLOGY;180
14.1;1. Introduction;180
14.2;2. The framework;181
14.3;3. The model;188
14.4;4. Some extensions;195
14.5;Appendix;197
14.6;References;202
15;CHAPTER 9. THE MULTI-SECTORAL GROWTH MODEL MSG–4. FORMAL STRUCTURE AND EMPIRICAL CHARACTERISTICS;204
15.1;1. Model background and history;204
15.2;2. Choice of theoretical content in an equilibrium model to be used in long–term macroeconomic planning;206
15.3;3. Economic and formal structure of MSG–4;212
15.4;4. Empirical characteristics of MSG–4 illustrated by long–term total elasticities;230
15.5;Appendix;248
15.6;Notes;252
15.7;References;253
16;CHAPTER 10. ON THE INTRODUCTION AND APPLICATION OF THE MSG–MODEL IN THE NORWEGIAN PLANNING SYSTEM;258
16.1;1. Institutional background;258
16.2;2. The first steps in applying the MSG–model;264
16.3;3. A short survey of applications;270
16.4;4. Political and administrative aspects of utilizing the MSG–model;272
16.5;5. Some reflections on the future of the MSG–model and its applications;277
16.6;References;279
17;CHAPTER 11. THE USE OF THE MSG–MODEL IN PREPARING A "PERSPECTIVE ANALYSIS 1980–2000" FOR THE NORWEGIAN ECONOMY;288
17.1;1. Introduction;288
17.2;2. Diminished perspectives for growth;289
17.3;3. Medium-term problems and long–run efficiency;296
17.4;4. Uncertainty and strategies;300
17.5;References;304
18;CHAPTER 12. CERTAINTY EQUIVALENCE PROCEDURES IN DECISION–MAKING UNDER UNCERTAINTY: AN EMPIRICAL APPLICATION;306
18.1;1. The Johansen approach to certainty equivalence procedures in decision–making under uncertainty;306
18.2;2. An illustration of the parametric certainty equivalence procedure;310
18.3;3. Static and dynamic optimization in a two–period context;313
18.4;4. A multi–period framework with stochastic rates of return;318
18.5;5. Preference functions derived from macroeconomic projections;326
18.6;6. A strategy for optimal consumption under uncertainty: empirical applications;334
18.7;References;346
19;AUTHOR INDEX;348
20;SUBJECT INDEX;350