This book presents Professor Lawrence R Klein and his group's last quarterly econometric model of the United States economy that they had produced at the University of Pennsylvania. This is the last econometric model that Lawrence Klein and his disciples have left after some 50 years of cumulated efforts of constructing the US economy model up to around 2000. It was widely known as the WEFA Econometric Model Mark 10, and is the culmination of Professor Klein's research which spans more than 70 years, and would please not only Professor Klein's old students and colleagues, but also younger students who have heard so much of Klein models but have yet to see the latest model in its complete and printed form.

This book surveys existing similar econometric models in Japan and offers several econometric models combining Japan, the US and other Asia-Pacific countries. These models have been explored by the author and his group at Nagoya University and other institutions for three decades, and are applied for the following four objectives. First, they construct a world econometric model of industry and trade, and thereby quantitatively assess the impacts of protective US trade policies and Japan's technical progress on Asia-Pacific economies. Second, they use an international input-output table, including China, to analyze the interdependence between Japanese firms with the subsidiaries in the US and Asia, and other foreign companies. Third, they use a small link model of China, Japan, Korea and the US, and thereby evaluate the macroeconomic effects of the respective fiscal policies. Fourth, they offer a multi-sector econometric model of the interactions pertaining to economic activity, energy and environment in China, and assess the effects of improved energy efficiency and demand shift in China.This volume comprises papers written by Soshichi Kinoshita (Professor Emeritus, Nagoya University, Nagoya), Jiro Nemoto (Professor of Economics, Nagoya University, Nagoya), Mitsuo Yamada (Professor of Economics, Chukyo University, Nagoya) and Taiyo Ozaki (Professor of Economics, Kyoto Gakuen University, Kyoto).