Study week on the econometric approach to development planning

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Monograph

Identifikator:: 1824422792

URN:: urn:nbn:de:zbw-retromon-217476

Document type:: Monograph

Title:: Study week on the econometric approach to development planning

Place of publication:: Amsterdam [u.a.]

Publisher:: North-Holland Publ. Co. [u.a.]

Year of publication:: 1965

Scope:: XLVII, 1259 S.; graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: The analysis of economic systems / Richard Stone, Cambridge University - Cambridge - Great Britain

Collection:: Economics Books

SEMAINE D'ÉTUDE SUR LE ROLE DE L’ANALYSE ECONOMETRIQUE ETC. asset, the actual life will depend on economic circumstances. A more realistic approach, therefore, would be to assume that assets are scrapped when they cease to earn a return. We should like to substitute this assumption for the one we are making at present, and our current work on production func- tions points to a way in which this might be done. The first development I shall mention relates to the distri- bution of incomes. At present, households are a single sector in SAM, and so have a single income and expenditure account. As a consequence, our model can say nothing about the distri- bution of incomes by size; it can neither say what changes, if any, in the present distribution might be expected in any particular circumstances nor can it say what consequences would follow if a particular change were to come about. In order to study these problems we should have to subdivide the income and expenditure account of households into separate accounts for different income groups. This could certainly be done; it is entirely a question of time and money. The first problem would involve dividing the incoming side of the ac- count by income group and classifying the incomings by in- dustry of origin and type of income; this would be comparati- vely difficult to do. The second problem would involve dividing the outgoing side of the account by income group and detailing the expenditure patterns of the different groups; this would not present much difficulty. As a second step, however, it would be necessary to work out how the average expenditure pattern would change if the distribution of income changed; this could be done by an extension of our present demand functions. A second development on which, as I have said, we have just started to work relates to problems of financing. In terms of variables, this means in the first place a large extension of our institutional capital accounts, class 14, so as to introduce a flow-of-funds statement into the system. For this purpose we intend to increase considerably the number of sectors in this part of the accounting system so as to distinguish many 1] Stone - pag. 39

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