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.
Students of public policy and practitioners within the farm program arena will find theis book an essential source of insight, information, and original cross-disciplinary argument."--BOOK JACKET.
A contentious issue in international relations today is the linkage of trade and the environment. Increased interest in this subject led to an environmental side-agreement to the North American Free Trade Agreement. In addition, the incorporation of environmental concerns into international trade rules will be one of the first items of business of the new World Trade Organization. Strong concerns over the impact of environmental regulations on international competitiveness ensure the ongoing debate a place at the top of the U.S. policy agenda as well.In this timely volume, an international group of economists, trade negotiators, and environmentalists brings diverse perspectives to bear on the nexus of trade and the environment. Providing a conceptual framework to help readers contextualize the debates, the contributors explore emerging political and economic connections between trade, international institutions, and the environment. They develop conceptual linkages among renewable resources, trade, and international goods, with consideration to both developed and developing economies. They then offer varying ways of measuring critical linkages, and, finally, they identify areas in need of further research.
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