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Books > Business & Economics > Economics > Econometrics > Economic statistics
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Allocation Models and their Use in Economic Planning (Hardcover, 1971 ed.)
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Allocation Models and their Use in Economic Planning (Hardcover, 1971 ed.)
Series: International Studies in Economics and Econometrics, 3
Expected to ship within 10 - 15 working days
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Three different lines of approach have contributed to the theory of
optimal planning. One approach considers the problem from the
view-point of a national government and its adviser, the
econometrician planning speci alist. The government can, if this is
thought to be desirable, stimulate investment in certain directions
and discourage other economic activities. By various fiscal
devices, it can influence both the total level and the distribution
of investment funds over different sectors of production. Also, in
many countries, a public agency plays some kind of coordinat ing
role in the formulation of long-term plans for output by the enter
prises sector; this may range from administrative direction in
so-called centrally planned economies, to persuasion and advice in
'capitalist' economies. Accordingly, the public planner wishes to
know what dis tribution of the nation's resources would be
'optimal'. This leads to the construction of various models which
may be described under the general heading 'input-output type
models'. This type of model has been largely developed by
practitioners, among whom Sandee [B2] is probably the most
outstanding and the earliest. A later, well-developed example of a
model based on this approach is, for example, the Czech model by
Cerny et al. [Bl]. A second approach considers the problem from the
point of view of the private entrepreneur and his adviser, the
manager and financial accountant.
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