The evolutionary model presented in this paper depicts an industrial sector with a varying degree of economic roundaboutness, i.e. vertical division of labour between producers and users of different types of intermediate products that are ultimately used for the production of a single final...

The report deals with the reconstruction and further development of the models of industrial dynamics developed by Nelson and Winter and summarised in their famous 1982-book. The basic idea underlying the Nelson and Winter models is that a verbal account of Schumpeterian competition can...

In this paper we compare the dynamic properties of the Italian Treasury Econometric Model (ITEM) with those of QUEST III, the endogenous growth model of the European Commission (DG ECFIN) in the version calibrated for Italy. We consider an array of shocks often examined in policy simulations and...

The Productivity Commission’s modelling indicates that there would be economy-wide benefits from further reductions in the relatively high tariffs on TCF imports. Assistance reductions would involve some further contraction of the TCF sector, but this would be outweighed by expansion of other...

Operational validation of a linear programming model of a dairy farm is done on the basis of representative results from reality. The model will be used to determine the effects of institutional, technical and price changes on the results of dairy farms. Average results of specialized dairy...