A Disequilibrium Macroeconometric Model for the Indian Economy
Author: Kaliappa Kalirajan
Publisher: Ashgate Publishing, Ltd.
Published: 2003
Total Pages: 240
ISBN-13:
DOWNLOAD EBOOKThis book presents a new approach to incorporating regional details on production in a disequilibrium macroeconometric model. The early studies on disequilibrium dealt with either partial-adjustment models or models involving excess demand or supplies in markets. This study delves further, by considering a different type of disequilibrium model - one in which econometric analysis makes use of the varying coefficients stochastic production frontier approach, which permits estimation and analysis of production efficiencies of individual producers. The diverse regional agricultural production conditions in India provide an appropriate basis for application of the methodology developed in this study by providing a perspective on regional implications of selected policy measures impacting on agriculture, either directly or indirectly.