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Equilibrium Displacement Models
- Format:
- Book
- Author/Creator:
- Brester, Gary W, author.
- Atwood, Joseph A, author.
- Boland, Michael A, author.
- Language:
- English
- Subjects (All):
- Business--Textbooks.
- Business.
- Finance--Textbooks.
- Finance.
- Physical Description:
- 1 online resource
- Place of Publication:
- [Place of publication not identified] University of Minnesota Libraries Publishing [2023]
- Language Note:
- In English.
- Summary:
- Applied economists frequently use equilibrium displacement models (EDMs), also termed linear elasticity models, for policy analyses because they can be used to estimate changes in prices and quantities that result from exogenous economic or policy shocks. These models are also widely used to estimate changes in producer and consumer surplus caused by exogenous economic shocks and to quantify the short- and long-term impacts of a variety of economic and regulatory actions across multiple markets. For the first time, a textbook that contains all of the theory and applications of EDMs along with a set of spreadsheet files is available in one place.
- Contents:
- Preface
- Chapter One: Equilibrium Displacement Models
- Chapter Two: Equilibrium Displacement Model Applications
- Chapter Three: Mathematical Tools for Evaluating Market Perturbations
- Chapter Three, Appendix A: Review of Linear Algebra and Differential Calculus
- Chapter Four: Economic Modeling in Primal and Dual Environments
- Chapter Four, Appendix A: Homogeneity of Degree 1 Production Functions and the Development of a Dual EDM System
- Chapter Four, Appendix B: Multiplicative Technology Shocks
- Chapter Five: EDM Policy Applications: One Output, Two Inputs
- Chapter Six: Relaxing the Assumption of Perfect Competition
- Chapter Seven: EDM Policy Applications: Multiple Markets
- Chapter Eight: Consumer Surplus, Producer Surplus, and Deadweight Losses
- Chapter Nine: Sensitivity Analyses of Equilibrium Displacement Models
- Chapter Nine, Appendix A: Constructing and Estimating EDM Confidence Intervals using Simulation Procedures
- Chapter Ten: Summary
- References
- Notes:
- Description based on online resource
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