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Comment on H. Genberg and A. Swoboda, "Saving, investment and the current account."

Article Abstract:

A saving-investment approach to modeling the current account of the balance of payments is very useful in both theoretical and empirical contexts, and can give essential information about the naturally intertemporal nature of the current account, according to 'Saving, Investment and the Current Account', by A. Swoboda and H. Genberg. Despite this, it is still necessary to forecast price elasticities in world trade and to make these forecasts part of general equilibrium models, and all partial approaches, although they are regarded merely as complements by the authors, can give useful information.

Dissertations, Academic, Dissertations

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Comment on E. Dierker and B. Grodal, "Modelling Policy issues in a world of imperfect competition."

Article Abstract:

The concept embodied in the theory of general competitive equilibrium shares the notion reflected in the non-cooperative game principle since both consider equilibrium as a function of optimal actions and view preferences and beliefs as individual characteristics. Under such environments, firms must be able to ensure that shareholder interests fit with one another in order to generate unanimous choices. One of the significant factors that lead to such choices are commodity prices, which can be analyzed through the use of imperfect competition models.

Economics, Research and Development in the Social Sciences and Humanities, Analysis, Equilibrium (Economics), Monopolistic competition

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Comment on J.I. Bernstein, "Information Spillovers, Margins, Scale and Scope: with an Application to Canadian Life Insurance." (response to article by Jeffrey I. Bernstein in this issue, p.S95)

Article Abstract:

An analysis of a model describing Canadian insurance services is presented. The model applies cost function analysis to life insurance in Canada. However, it does not offer a balanced approach between analytical framework presentation and explanation of data problems and econometric implementation issues. Thus, the model creates an unclear impression of the subject of study. The model should have integrated more data and econometric analysis to present a more substantial approach.

Learning models (Stochastic processes), Stochastic models

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