Dynamic Modelling Of Stochastic Demand For Manufacturing Employment (lecture Notes In Economics And Mathematical Systems)

In this book interrelated factor demand models are surveyed. New methods are developed and are analysed empirically using Dutch and U.K. time series data. New methods are discussed for obtaining closed form solutions of linear ratinal expectations models, providing deeper insights into the identification of structural parameters of underlying theoretical models; recently developed time series techniques are applied in order to estimate structural parameters and test for model specification, stationarity and stability through time; new models are developed in which the rather stringent and questionable restrictions of symmetry generally imposed upon stochastic adjustment models of labour demand are relaxed, the models are analysed empirically using time series data of Dutch and U.K. manufacturing production and nonproduction workers. Front Matter....Pages N2-VI Introduction....Pages 1-13 A Prototype Model for Blue and White Collar Employment Decisions of Rational Entrepreneurs Under Uncertainty....Pages 13-42 Interrelated Demand Rational Expectations Models for Two Types of Labour and Predetermined Capital....Pages 42-69 Exogenous Shocks and Cointegration in Multivariate Flexible Accelerator Models of Labour and Capital....Pages 70-95 The Structure of Adjustment Costs for Labour in the Dutch Manufacturing Sector....Pages 95-108 Asymmetric Adjustment Costs of Labour in Nonlinear Rational Expectations Demand Models....Pages 109-135 Conclusions and Summary....Pages 135-142 Back Matter....Pages 143-162