The model used–an extension of the log-linear dividend-price ratio model of Campbell
and Shiller (1988, 1989)–facilitates a straightforward test of these alternatives in a linear
regression with the log price-earnings ratio as dependent variable. The regression results suggest
that the correlation between the price-earnings ratio and expected inflation is the result of both
effects; that is, an increase in expected inflation reduces equity prices because it is associated
with both lower expected real earnings growth and higher required real returns.
Tuyển tập các báo cáo nghiên cứu về y học được đăng trên tạp chí y học Wertheim cung cấp cho các bạn kiến thức về ngành y đề tài: Explicit equilibrium modeling of transcription-factor binding and gene regulation...
This is the second part of the book that examines process and possible economic consequences of accession to the WTO. This part considers economic impact of the WTO accession and takes specific country as a case study, namely Ukraine. Computable General Equilibrium model for Ukraine is built and several scenarios are modelled. The facts that Ukraine has sufficiently large economy and accession was finalised quite recently should make it interesting to a wide audience.
Asmentioned in the introduction, the information associatedwith an event is
represented by a data structure called a notiﬁcation.We refer to the datamodel
or encoding schema of notiﬁcations as the event notiﬁcation model or simply
event model. Most existing event notiﬁcation services adopt a simple record-
like structure for notiﬁcations, while some more recent frameworks deﬁne an
object-oriented model (e.g., the Java™ Distributed Event Speciﬁcation [Sun
Microsystems 1998] and the CORBA Notiﬁcation Service [Object Management
.Priv.-Doz. Dr.-Ing. Dipl.-Math. Ekkehard Holzbecher Georg-August Universit€t G€ttingen a o Goldschmidtstr. 3 37077 G€ttingen o email@example.com
Additional material to this book can be downloaded from http://extra.springer.com. ISBN 978-3-642-22041-8 e-ISBN 978-3-642-22042-5 DOI 10.1007/978-3-642-22042-5 Springer Heidelberg Dordrecht London New York
Library of Congress Control Number: 2011941398 # Springer-Verlag Berlin Heidelberg 2012 This work is subject to copyright.
Mathematical modelling is the process of formulating an abstract model
in terms of mathematical language to describe the complex behaviour of
a real system. Mathematical models are quantitative models and often
expressed in terms of ordinary differential equations and partial differential
equations. Mathematical models can also be statistical models,
fuzzy logic models and empirical relationships. In fact, any model description
using mathematical language can be called a mathematical
This is the second part of the book that examines process and possible economic consequences of
accession to the WTO. This part considers economic impact of the WTO accession and takes specific
country as a case study, namely Ukraine. Computable General Equilibrium model for Ukraine is built and
several scenarios are modelled. The facts that Ukraine has sufficiently large economy and accession was
finalised quite recently should make it interesting to a wide audience.
Mathematical Modeling I – preliminary is designed for undergraduate students. Two other followup
books, Mathematical Modeling II – advanced and Mathematical Modeling III – case studies in biology,
will be published. II and III will be designed for both graduate students and undergraduate students.
All the three books are independent and useful for study and application of mathematical modeling in
For the past fifteen years the New Keynesian model has
served as a frame of reference for analyses of fluctuations
and stabilization policies.1 That framework has allowed the
rigor and internal consistency of dynamic general equilibrium
models to be combined with typically Keynesian
assumptions, like monopolistic competition and nominal
rigidities, thus setting the stage for a meaningful, welfarebased
analysis of the effects of alternative monetary policy
This paper considers the problem of policy evaluation in a modern society with heterogeneous
agents and diverse groups with conflicting interests. Several different approaches to the policy evaluation
problem are compared including the approach adopted in modern welfare economics, the classical
representative agent approach adopted in macroecononomics and the microeconomic treatment effect
approach. A new approach to the policyevaluationproblemis developed and applied that combines and
extends the best features of these earlier approaches.
This paper reviews the range of traffic models, with particular attention to microsimulation. Although there are major types, there are so many hybrids that it is difficult to classify them all. The standard way of assigning traffic to a network is to find a static equilibrium from which no driver would be able to find a quicker route. This gives fairly good predictions of the link flows resulting from driver choices.
This book has two parts. The first part talks about general characteristics of the World Trade Organisation (WTO) as well as common steps that have to be taken during the accession process. Theoretical studies related to the WTO activities are also presented. Finally, Part I of this book discusses one of the most useful methods of examining economic consequences of being WTO member, namely Computable General Equilibrium (CGE) Models. Part II continues analysis and shows application of CGE model to a specific case study.
More recently, Granger (1986) and Johansen and Juselius (1990) proposed
to determine the existence of long-term equilibrium among selected variables
through cointegration analysis, paving the way for a (by now) preferred
approach to examining the economic variables-stock markets relationship.
A set of time-series variables are cointegrated if they are integrated of the
same order and a linear combination of them is stationary. Such linear
combinations would then point to the existence of a long-term relationship
between the variables.
We present a game-theoretic model of bargaining over a metaphor in the context of political communication, ﬁnd its equilibrium, and use it to rationalize observed linguistic behavior. We argue that game theory is well suited for modeling discourse as a dynamic resulting from a number of conﬂicting pressures, and suggest applications of interest to computational linguists.
The study presents the application of parabolic model using MEPBAY package to estimate the equilibrium stages of the headland-bay beaches in Binh Thuan and Ninh Thuan provinces. The model results showed that the present shorelines in Phan Thiet, Binh Thuan are not under equilibrium stages. As for Binh Thuan, the shoreline changes with and without structures in Phan Thiet and Hon Rom beaches were predicte.
Learning outcome of this chapter 2: Identify the critical assumptions of the two-sector model, define what is meant by a Pareto-optimal allocation of resources; articulate the three conditions for a general equilibrium; distinguish between allocative efficiency, X-efficiency, and ‘dynamic’ efficiency (or economic growth); discuss the broad categories of market failure; explain the allocative, distributive, and stabilisation functions of government; distinguish between direct and indirect forms of government intervention.
Chapter 8 - Building the aggregate expenditure model. In this chapter you will learn: The factors that determine consumption expenditure and saving, the factors that determine investment spending, how equilibrium GDP is determined in a closed economy without a government sector, about the effects of the multiplier on changes in equilibrium GDP,…
The model of supply and demand is the economics profession’s greatest contribution to human understanding because it explains the operation of the markets on which we depend for nearly everything that we eat, drink, or consume. The model is so powerful and so widely used that to many people it is economics. This chapter explains how the model works and how it can explain both the quantities that are bought and sold in markets as well as the prices at which they trade.
Chapter 28 - The aggregate expenditures model. In this chapter, students will be able to understand: Illustrate how economists combine consumption and investment to depict an aggregate expenditures schedule for a private closed economy, analyze how changes in equilibrium real GDP can occur in the aggregate expenditures model and describe how those changes relate to the multiplier, identify and describe the nature and causes of "recessionary expenditure gaps" and "inflationary expenditure gaps".