Skip to main content

Part of the book series: Advanced Studies in Theoretical and Applied Econometrics ((ASTA,volume 5))

Abstract

Economic crisis, or serious lack of performance relative to an expectation, raises questions relating to causation and to policy in the broadest sense. Given the close interdependence existing between countries, it is usually thought desirable to use international or multi-country models in order to investigate the two questions. However, economic crises are not only interesting in their own right but also because they are usually thought to be associated with political ones. Even if not associated, causation and policy clearly involve political factors. For this broader political economy analysis, international models are also required.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 39.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 54.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  • Akhtar, M. (1983), ‘Effects of Interest Rates and Inflation on Aggregate Inventory Investment in the US’, American Economic Review, 73, pp. 319–328.

    Google Scholar 

  • Allen, M. (1982), ‘Adjustment in Planned Economies’, IMF Staff Papers, Vol. 29, pp. 398–421.

    Article  Google Scholar 

  • Armington, P. (1969), ‘A Theory of Demand for Products Distinguished by Place of Production’, IMF Staff Papers, Vol. 16, pp. 159–178.

    Article  Google Scholar 

  • Artus, P. and C. Bismut (1983), Exchange Rate and Wage Price Dynamics, Institut National de la Statistique et des Etudes Economiques, Document de Travail No. 8308.

    Google Scholar 

  • Bailey, R.W., V.B. Hall and P.C.B. Phillips, ‘A Model of Output Employment, Capital Formation and Inflation’, Cowles Foundation Discussion Paper No. 552.

    Google Scholar 

  • Benassy, J.P. (1981), ‘The Disequilibrium Approach to Monopolistic Price Setting and General Monopolistic Equilibrium’, Review of Economic Studies, 43.

    Google Scholar 

  • Bergstrom, A.R. and C.R. Wymer (1976), ‘A Model of Disequilibrium Neo Classical Growth and its Application to the United Kingdom’, in: A.R. Bergstrom.

    Google Scholar 

  • Bergstrom, A.R. (1976), Statistical Inference in Continuous Time Economic Models, North-Holland Publishing Company, Amsterdam.

    Google Scholar 

  • Bhandari, J. (1981), ‘Toward a Multi-Country Model of Exchange Determination’, Journal of Macroeconomics, Vol. 3, pp. 501–516.

    Article  Google Scholar 

  • Brada, J.C. et al. (1981), ‘The Optimality of Socialist Development Strategies’, Journal of Economic Dynamics and Control, Vol. 3, pp. 1–27.

    Article  Google Scholar 

  • Branson, W. and J. Rotemberg (1980), ‘International Adjustments with Wage Rigidity’, European Economic Review, Vol. 13, pp. 309–332.

    Article  Google Scholar 

  • Bremer, S. (1982), ‘The GLOBUS Model — A Guide to its Theoretical Structure’, IIVG Discussion Paper 82–105.

    Google Scholar 

  • Bruno, M. and J. Sachs (1979), ‘Supply Versus Demand Approaches to the Problem of Stagflation’, Maurice Falk Institute, Discussion Paper 786.

    Google Scholar 

  • Burgess, D. (1974), ‘Production Theory and the Derived Demand for Imports’, Journal of International Economics, 4, pp. 103–117.

    Article  Google Scholar 

  • Calmfors, L., ‘Long Run Effects of Short Run Stabilization Policy’, The

    Google Scholar 

  • Canzoneri, M. (1982), ‘Exchange Intervention Policy in a multi Country World’, Journal of International Economics, Vol. 13, pp. 267–290.

    Article  Google Scholar 

  • Corden, W.M. (1983), ‘Macroeconomic Policy Interaction under Flexible Exchange Rates: A Two Country Model’, Institute for International Economic Studies, Seminar Paper 264.

    Google Scholar 

  • Deardorff, A. and R.M. Stern (1979), ‘What Have We Learned from Linked Exonometric Models?’, Banca Nazional del Lavoro Quarterly Review, pp. 415–532.

    Google Scholar 

  • Dunne, J.P., F. Pashardes and R.P. Smith (1983), ‘Needs, Costs and Bureaucracy: The Allocation of Public Consumption in the UK’, Paper Presented to the European Econometric Society Conference, Pisa.

    Google Scholar 

  • Eliasson, G. (1983), ‘On the Optimal Rate of Structural Adjustment’, in: Eliasson et al., Policy Making in a Disorderly World Economy, Almquist, Stockholm.

    Google Scholar 

  • Findlay, R. and C. Rodriguez (1977), ‘Intermediate Imports and Macroeconomic Policy under Flexible Exchange Rates’, Canadian Journal of Economics.

    Google Scholar 

  • Gandolfo, G. (1981), Qualitative Analysis and Econometric Estimation of Continuous Time Dynamic Models, North-Holland.

    Google Scholar 

  • Gordon, R. and A. Haynes (1970), ‘On the Theory of Price Dynamics’, in: E. Phelps, Macro-economic Foundations of Employment and Inflation Theory, New York.

    Google Scholar 

  • Gylfason, T. and A. Lindbeck (1983), ‘The Macroeconomic Consequences of Endogenous Government and Labor Unions’, Institute for International Economic Studies, Seminar Paper 232, Stockholm.

    Google Scholar 

  • Johansen, L. (1982), ‘A Note on the Possibility of an International Equilibrium with Low Levels of Activity’, Journal of International Economics, 13, pp. 257–266.

    Article  Google Scholar 

  • Kirkpatrick, G. (1983), ‘A Prototype National Economy for a Multi Country OECD Model’, IIVG Discussion Paper 83–105.

    Google Scholar 

  • Kirkpatrick, G. (1983a), A Prototype Model of a CPE Economy, Berlin, Mimeo.

    Google Scholar 

  • Kirkpatrick, G. and U. Widmaier (1983), ‘Political/Economic Relations between and within OECD Countries’, Paper delivered to the ECPR Workshop, February.

    Google Scholar 

  • Kohli, V. and McKibbin (1982), ‘Are Government Deficits the Prime Cause of Inflation?’, Journal of Policy Modeling, 4 (3), November, pp. 279–310.

    Article  Google Scholar 

  • Lipton, D. and J. Sachs (1983), ‘Accumulation and Growth in a Two Country Model: A Simulation Approach’, Journal of International Economics, 15, pp. 125–160.

    Article  Google Scholar 

  • Nadiri, M.I. and S. Rosen (1969), ‘Interrelated Factor Demand Functions’, American Economic Review, 59, September, pp. 457–471.

    Google Scholar 

  • Pollins, B. (1982), ‘The Political and Economic Determinants of International Trade Flows in Globus’, IIVG Discussion Paper 82–110.

    Google Scholar 

  • Pollins, B. and G. Kirkpatrick (1983), ‘Specification and Estimation of an International Trade System with Political and Economic Determinants’, Paper presented to the International Political Science Association Roundtable at Urbana-Champaign, Illinois.

    Google Scholar 

  • Portes, R. et al. (1982), ‘Macroeconomic Planning and Disequilibrium’, Birkbeck College Discussion Paper No. 126.

    Google Scholar 

  • Purvis, D. (1980), ‘Monetarism: A Review’, Canadian Journal of Economics, 13 (1), pp. 96–122.

    Article  Google Scholar 

  • Richard, D. (1983), ‘A Global Adjustment Model of Exchange and Interest Rates: Empirical Analysis’, in: D. Bigman and T. Taya (eds), The Functioning of Floating Exchange Rates, Ballinger.

    Google Scholar 

  • Richard, D. (1983), ‘International Adjustment, Exchange Rates and Growth’, Paper presented at World Congress of the Econometric Society, Aix-en-Provence.

    Google Scholar 

  • Smith, R.P. (1980), ‘The Demand for Military Expenditure’, The Economic Journal, 90, pp. 811–820.

    Article  Google Scholar 

  • Szakolczai, G. (1982), ‘Comments on the Optimality of Socialist Development Strategies’, Journal of Economic Dynamics and Control, 4 (1).

    Google Scholar 

  • Vanous, J. (1982), ‘Disequilibrium Economic Trade Model for Socialist Economies’, Paper prepared for Vlth International Conference on the Econometric Modeling of the Socialist Economies, Budapest.

    Google Scholar 

  • Ward, M.D. (1982), Differential Paths to Parity: A Study of the Contemporary Arms Race, Mimeo, Berlin.

    Google Scholar 

  • Ward, M.D. and G. Kirkpatrick (1983), ‘International Stability and Arms Competition between the Superpowers’, Paper presented to Workshop on Supplemental Ways for Improving International Stability, Laxenburg.

    Google Scholar 

  • Widmaier, U. (1982), ‘Political Performance, Political Support and Political Stability: The Globus Framework’, IIVG Discussion Paper, pp. 82–108.

    Google Scholar 

  • Widmaier, U. (1983), A Model of Domestic Political Developments for Socialist Economies, Mimeo, Berlin.

    Google Scholar 

  • Winters, A.L., ‘Separability and the Specification of Foreign Trade Functions’, University of Bristol, and Discussion paper 82/126.

    Google Scholar 

  • Wymer, C.R. (1978), The Use of Continuous Time Models in Economics, Mimeo, Washington.

    Google Scholar 

  • Wymer, C.R. (1978), ‘Continuous Models in Macroeconomics: Specification and Estimation’, 7th Conference of Economists, Sydney Macquarie University, August 28–September 1, 1978. Paper prepared for the SSRC–Ford Foundation Conference on Macroeconomic Policy and Adjustment in Open Economies, at Fenhams Hall, Ware, England, and April, 28–May 1, 1976.

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Editor information

P. Artus O. Guvenen

Rights and permissions

Reprints and permissions

Copyright information

© 1986 Martinus Nijhoff Publishers, Dordrecht

About this chapter

Cite this chapter

Kirkpatrick, G. (1986). A Globus OECD/COMECON Simulation Model. In: Artus, P., Guvenen, O. (eds) International Macroeconomic Modelling for Policy Decisions. Advanced Studies in Theoretical and Applied Econometrics, vol 5. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-4347-6_6

Download citation

  • DOI: https://doi.org/10.1007/978-94-009-4347-6_6

  • Publisher Name: Springer, Dordrecht

  • Print ISBN: 978-94-010-8432-1

  • Online ISBN: 978-94-009-4347-6

  • eBook Packages: Springer Book Archive

Publish with us

Policies and ethics