Disequilibrium Macroeconometric Model for the Indian Economy

This 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. In this study the authors consider 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 book presents an innovative approach to production modelling in macroeconometric models as it provides a useful framework for incorporating production efficiencies and regional details of production in the macro models. It is a pioneering study that combines the stochastic frontier approach with macroeconometric modelling. Primarily focused on India, it also provides insights into problems in modelling economies of other developing countries.Kalirajan, K. P. is the author of 'Disequilibrium Macroeconometric Model for the Indian Economy' with ISBN 9780754634706 and ISBN 0754634701.