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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
An Inter-Industry Translog Model of Prices and Technical Change for the West German Economy

An Inter-Industry Translog Model of Prices and Technical Change for the West German Economy

Nakamura, S.

Paperback

Series: Lecture Notes in Economic and Mathematical Systems, Book 221

Business GeneralEconomicsProbability & Statistics

ISBN10: 3540127097
ISBN13: 9783540127093
Publisher: Springer Nature
Published: Dec 1 1983
Pages: 295
Weight: 1.10
Height: 0.65 Width: 6.69 Depth: 9.61
Language: English
This book presents the results of a research project which has been carried out in the Special Research Unit (Sonderforschungs- bereich) 21 at Bonn University. It is a part of the current research on disaggregated econometric forecasting models with a fully integrated input-output system with variable input co- efficients where prices are explained as dual variables of the underlying production model. A similar approach has already been used by Knut KUbler Ein disaggregiertes Prognosesystem fUr die Bundesrepublik, die Unternehmenssektoren, Meisenheim am Glan, 1977. But KUbler assumed Cobb-Douglas production functions. Mean- while a new approach has been suggested by Jorgenson and others, using more flexible forms of functions, e. g. the translog function as an approximation to any reasonable neo-classical production function, see Hudson and Jorgenson US Energy Policy and Economic Growth, 1975 - 2000, Bell Journal of Economics and Management SCience, Vol. 5 (1974), page 461 ff. Jorgenson and Fraumeni, Substitution and Technical Change in Production, Discussion paper No. 752, Harvard Institute of Economic Research, Harvard University, Cambridge/Mass. (1 980) Friede, Investigation of Producer Behavior in the FRG using the Translog Price Function, Cambrigde/Mass. (1980). Krelle and Pallaschke A General Demand System, Zeitschrift fUr Nationalokonomie 41 (1981), page 223 ff. suggested another approximation using a Taylor expansion of any reasonable demand system. Nakamura follows the lines of Jorgenson and his collaborators but extends them into new areas and reaches much better results.

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