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ID 31734
file
creator
Kawai, Ken-ichi
Ono, Hiroshi
subject
Regional economy
Rate of error
Dynamic multipliers
Changes in parameters
Forecasts
Structural changes
NDC
Economics
abstract
A thorough reconstruction of the Toyo Keizai Econometric Model of Hiroshima Prefecture is undertaken in the paper. The independence of the regional industry equations of the whole system is corrected. A lack of theoretical explanations of individual equations and the limitation in the number of periods in solving the simultaneous equations are lifted. The effectiveness of taking into account the trend of the changes in the industrial structure of the regional economy and the shifts of parameters of industry equations is evaluated in terms of dynamic multiplier analyses. The importance of having a workable national model as a part of the entire model in constructing a regional model was emphasized. Making use of a regional econometric model, a mechanism of production smoothing by inventory investment was described.
journal title
The Hiroshima Economic Review
volume
Volume 35
issue
Issue 2
start page
73
end page
151
date of issued
2011-11-30
publisher
広島大学経済学会
issn
0386-2704
ncid
language
eng
nii type
Departmental Bulletin Paper
HU type
Departmental Bulletin Papers
DCMI type
text
format
application/pdf
text version
publisher
rights
Copyright (c) 2011 広島大学
department
Graduate School of Social Sciences
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