Economic Structure and Policy: with applications to the British economy (Cambridge Studies in Applied Econometrics, 2)

Since the first statement of the aims and methods of the Cambridge Growth Project, which appeared in 1962 as the first number of our former series A Programme for Growth, we have produced a volume on the state ofthe model and on projections derived from it at roughly five year intervals: Exploring 1970 (1965), Exploring 1972 (1970) and now the present book. A comparison of these publications shows the directions in which we have developed our model. First, we have been able to model more parts of the economy and to model them better; and, second, by adopting a targets-and-instruments approach, we have been able to tackle questions of policy. As a consequence of the first of these improvements, the model has become more closely knit and variables which were previously exogenous have become endogenous; and, as a consequence of the second, the model has become less rigid and can be used to suggest policies for correcting some ofthe undesir­ able features that emerge from the projections. Front Matter....Pages i-xix Front Matter....Pages 1-1 Models, Projections and Policies....Pages 3-14 An Overview of the Model....Pages 15-53 Solving the Model....Pages 54-86 Front Matter....Pages 87-87 Personal Consumption....Pages 89-105 Investment....Pages 107-130 Exports....Pages 131-161 Imports....Pages 162-176 Employment....Pages 177-193 Prices and Profits....Pages 194-219 Incomes and Expenditures....Pages 220-228 Company Profits, Dividends and Retentions....Pages 229-263 Front Matter....Pages 265-265 The British Economy in 1980: A Standard View....Pages 267-294 Alternative Economic Environments....Pages 295-335 Alternative Taxation Systems and their Incidence....Pages 336-355 Budgetary Policy, Public Expenditure and the Balance of Payments....Pages 356-370 Alternative Economic Policies....Pages 371-394 Back Matter....Pages 395-421