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Endogenous Disinvestment Activities and the Transformation to a new Equilibrium. A computable general equilibrium approach

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  • Norén, Ronny

    ()
    (Department of Social Sciences)

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    Abstract

    The contribution of this book is the explicit recognitation of the importance of endogenous disinvestment activities to a new equilibrium. This is embodied in the condition specifying the economic life of capital to account for obsolescence. This specification provides the formal link between capital formation and production capacity. Thus, the transformation process will be endogenously specified in the model. In technical terms, the economic structure is illustrated by the help of a computable general equilibrium (CGE) model of an open economy. The numerical applications is an examination of the sensitivity of the model to systematic variation in key variables of the transformation process, and the variations that may appear through changes in domestic and international conditions. This book, organised in 6 chapters, is designed as a textbook and a research publication in combination. In rough outline, Chapter 2 and 3 is a pure textbook representation, and Chapter 4, 5 and 6 are representative chapters of the research publication.

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    Bibliographic Info

    Paper provided by Umeå University, Department of Economics in its series Umeå Economic Studies with number 569.

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    Length: 90 pages
    Date of creation: 01 Oct 2001
    Date of revision:
    Handle: RePEc:hhs:umnees:0569

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    Postal: Department of Economics, Umeå University, S-901 87 Umeå, Sweden
    Phone: 090 - 786 61 42
    Fax: 090 - 77 23 02
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    Web page: http://www.econ.umu.se/
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    Related research

    Keywords: Economic obsolescence; CGE model; transformation; capital rent; open economy;

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    1. Noren, Ronny, 1998. "Industrial Transformation in the Open Economy: A Multisectoral View," Journal of Policy Modeling, Elsevier, Elsevier, vol. 20(1), pages 111-117, February.
    2. Herbert E. Scarf, 1967. "On the Computation of Equilibrium Prices," Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University 232, Cowles Foundation for Research in Economics, Yale University.
    3. Alan J. Auerbach & Martin Feldstein, 1978. "Inflation and the Choice of Asset Life," NBER Working Papers 0253, National Bureau of Economic Research, Inc.
    4. Feldstein, Martin S & Rothschild, Michael, 1974. "Towards an Economic Theory of Replacement Investment," Econometrica, Econometric Society, Econometric Society, vol. 42(3), pages 393-423, May.
    5. Coates, Dennis, 1991. "Endogenous Capital Utilization and Taxation of Corporate Capital," National Tax Journal, National Tax Association, vol. 44(1), pages 79-91, March.
    6. Benjamin, Nancy, 1990. "Devaluations and credibility in structural adjustment policy," Journal of Policy Modeling, Elsevier, Elsevier, vol. 12(4), pages 659-669.
    7. Schworm, William E., 1979. "Tax policy, capital use, and investment incentives," Journal of Public Economics, Elsevier, Elsevier, vol. 12(2), pages 191-204, October.
    8. Shoven,John B. & Whalley,John, 1992. "Applying General Equilibrium," Cambridge Books, Cambridge University Press, Cambridge University Press, number 9780521319867.
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