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Multisector Growth Models

Theory and Application

  • Book
  • © 2010

Overview

Authors:
  1. Terry L. Roe

    1. Dept. Applied Economics, University of Minnesota, St. Paul, U.S.A.

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  2. Rodney B. W. Smith

    1. Dept. Applied Economics, University of Minnesota, St. Paul, U.S.A.

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  3. D. Sirin Saracoglu

    1. (METU), Middle East Technical University, Ankara, Turkey

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  • Emphasizes the microfoundations of multi-sector growth models

  • Practical guide for constructing, solving, applying and validating multisector growth models

  • Instructions on software applications (Mathematica)

  • Includes supplementary material: sn.pub/extras

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Table of contents (9 chapters)

  1. Front Matter

    Pages i-xi
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  2. Introduction: Orientation and Focus

    • Terry L. Roe, D. Şirin Saracoğlu, Rodney B.W. Smith
    Pages 1-7

  3. The Preliminaries

    • Terry L. Roe, D. Şirin Saracoğlu, Rodney B.W. Smith
    Pages 9-43

  4. The Two Sector Ramsey Model

    • Terry L. Roe, D. Şirin Saracoğlu, Rodney B.W. Smith
    Pages 45-77

  5. The Three-Sector Ramsey Model

    • Terry L. Roe, D. Şirin Saracoğlu, Rodney B.W. Smith
    Pages 79-112

  6. Extensions to the Three-Sector Model

    • Terry L. Roe, D. Şirin Saracoğlu, Rodney B.W. Smith
    Pages 113-157

  7. The Extended Three-Sector Model

    • Terry L. Roe, D. Şirin Saracoğlu, Rodney B.W. Smith
    Pages 159-197

  8. A Three-Sector – Two-Country World

    • Terry L. Roe, D. Şirin Saracoğlu, Rodney B.W. Smith
    Pages 199-238

  9. Data Issues and the Social Accounting Matrix

    • Terry L. Roe, D. Şirin Saracoğlu, Rodney B.W. Smith
    Pages 239-281

  10. Solution Methods in Transition Dynamics

    • Terry L. Roe, D. Şirin Saracoğlu, Rodney B.W. Smith
    Pages 283-303

  11. Back Matter

    Pages 1-24
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Keywords

About this book

The primary objective of this book is to advance the state of the art in specifying and ?tting to data structural multi-sector dynamic macroeconomic models, and empirically implementing them. The fundamental construct upon which we build is the Ramsey model. A most attractive feature of this model is the insights it provides into the dynamics of an economy in tr- sition to long-run equilibrium. With some exceptions, Ramsey models are highly aggregated – typically single sector models. However, interest often lies in understanding the forces of e- nomic growth across multiple sectors of an economy and on how policy impacts likely play out over time. Such analyses call for moredisaggregatedmodelsthatcanbe?ttocountryorregional data.Thisbookshowshowto:(i)extendthebasicmodeltom- tiple sectors, (ii) how to adapt the basic model to account for policy instruments, and (iii) ?t the model to data, and obtain equilibrium values both forward and backward in time from the data points to which the model is initially ?t.

Reviews

From the reviews:

“The central issue of the book is transition from theoretical description of an economy to real-life applications of the theory. … The book could serve as a textbook for advanced undergraduate students or graduate students (e.g. in an Applied General Equilibrium course) or as a companion book for any person willing to apply the theory to real-life problems.”­­­ (Piotr Mackowiak, Zentralblatt MATH, Vol. 1198, 2010)

Authors and Affiliations

  • Dept. Applied Economics, University of Minnesota, St. Paul, U.S.A.

    Terry L. Roe, Rodney B. W. Smith

  • (METU), Middle East Technical University, Ankara, Turkey

    D. Sirin Saracoglu

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