By Gerard H. Kuper, Elmer Sterken, Els Wester
Coordination and development: Essays in Honour of Simon ok. Kuipers, addresses a wealthy number of coordination concerns in macroeconomics. It includes specific experiences in financial coverage, financial economics, and development thought and makes use of a variety of methodologies to handle the coordination factor: from a natural theoretical to an empirical econometric process. it truly is under pressure that sleek macroeconomics may still specialize in coordination concerns. Imperfections of assorted forms are inclined to bring about coordination mess ups, which can result in huge welfare losses. Macroeconomists may still tackle the explanations and implications of imperfections and screw ups. during this booklet makes an attempt are made to extend our wisdom during this field.
The e-book is a tribute to at least one of the prime Dutch macroeconomists, Simon ok. Kuipers. Simon Kuipers indicates an immense curiosity within the conception of capital (following e.g. Harrod), development thought (following Solow), financial idea (following Tobin), and disequilibrium conception (following Malinvaud and Benassy). The traces of idea have in universal that they use frictions to give an explanation for the functioning of a industry economic system. the character of the frictions varies from natural volume rationing, like within the Malinvaud research, to imperfect substitution of varied capital items (like within the classic versions or resources (in the final financial equilibrium versions proposed through Tobin). Kuipers isn't just drawn to natural theoretical contributions, he additionally stimulates econometric paintings in keeping with the Dutch culture initiated by means of Tinbergen. His utilized paintings pertains to coverage research and coverage prescriptions in lots of fields, starting from financial economics to distortions within the labour industry. Kuipers could be categorized as a real Keynesian, even supposing he admires neoclassical concept for its rigour and compactness. greater nonetheless, he's an eclectic economist with an open eye for the several faculties of inspiration in macroeconomics.
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Additional info for Coordination and Growth: Essays in Honour of Simon K. Kuipers
In Kuipers (1975) a clay-clay vintage structure characterises the supply side of the model. Demand is modelled along conventional lines. In comparison with his 1973 model, Kuipers now takes a short-cut by using changes in the rate of capacity utilisation to equate demand and supply in the goods market. Wage and price equations are not very different from the earlier macroeconomic model. Emphasis lies on the comparative dynamics of steady state growth paths. For instance, a rise in the propensity to save leads to a fall in the life span of machines and a decline in the profit rate.
K. Kuipers (1969b), "Een onderzoek naar de invloed van monetaire factoren op het reele groeiproces in enkele traditionele theorieen van economische groei (II)," De Economist 117(4), pp. 381-401. Haan, H. K. Kuipers (1969c), "Een onderzoek naar de invloed van monetaire factoren op het reele groeiproces in enkele traditionele theorieen van economische groei (III)," De Economist 117(5), pp. 493-510. Hartog, H. J. S. Tjan (1975), "De structurele ontwikkeling van de werkgelegenheid in macro-economisch perspectief' (The Structural Development of Employment in Macroeconomic Perspective), in Preadviezen van de Vereniging voor de Staathuishoudkunde, Leiden, pp.
In Kuipers's view macroeconometric models are in particular an essential tool for quantitative economic policy evaluation. g. Kuipers et al. 1980; Kuipers 1983a) he has shown his expertise on constructing large empirical macroeconomic models several times, with CESAM as his crown jewel. g. , 1990; Kuipers, 1983a). , 1990). In 1980 Kuipers already shows his expertise as a model builder by his 2. , 1980). 1 Economic and Monetary Union In the 1990s increasing attention has been given to the Dutch monetary policy in a European perspective.