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Economics, Econometrics and The LINK" is a collection of scholarly contributions by leading scholars from the U.S., Europe, and Asia dealing with issues of economics and econometrics. The book contains a learned and erudite exposition of macroeconomics and macroeconomic modeling including national, sectoral, issues exchange rate, environment, international price competitiveness and international linkages. It presents a comprehensive perspective of econometric modeling - country-specific, sector-specific and issue-specific. The volume is a tribute to the work of Lawrence R. Klein from all his friends who share a common agenda, viz. to relate the study of economics to the studies of mankind.

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CONTENTS
Preface = ⅶ
The Works of Lawrence R. Klein = xv
The Keynesian Revolution
  Who Innovated the Keynesian Revolusion? / Paul A. Samuelson = 3
Macroeconomics
  On the chronology of the General Theory 1 / Don Patinkin = 21
  Rereading the 'Keynesian Revolution' / Wilhelm Krelle = 35
  The Discussion among Future Nobel Laureates Becker, Friedman, and Klein, on Macro Models and Consumption Functions, in 1957 and 1958Ronald G. Bodkin = 45
  Macroeconomics―Supra-national Macroeconomic Core / M. Dutta = 59
Econometrics - Some Theoretical Aspects
  An Asymptotic Approximation to the Probability Density Function of the Durbin Watson Test Statistic / A. L. Nagar & P.D. Sharma = 75
  Stochastic Prediction in Dynamic Nonlinear Systems : Econometric Forecasting Application in Models for Developing Economies / Roberto S. Mariano & Wesley W. Basel = 87
  On the Distribution of Horse Qualities at Racetracks : An Analysis of Cournot-Nash EquilibriaRichard E. Quandt = 103
  On Asymmetry in Economic Time Series / Francis X. Diebold = 119
Macro-econometrics Modeling
  An Open Economy Analysis of the Dynamic Properties of the Michigan Quaterly Econometric Model of the U. S. Economy / E. Philip Howrey & Saul H. Hymans = 129
  Demand Management, Real Wage Rigidity, and Unemployment / Robert M. Coen & Bert G. Hickman = 159
  Macroeconometrics and Growth in the Global Economy / John F. Helliwell = 189
  Structural Versus VAR Modeling : An Empirical Comparison with a Small Model of the United States / F. Gerard Adams & Ronald C. Ratcliffe = 207
Econometrics Analysis - The Balance of Payments and The Exchange Rate
  Manufacturing Industry and Balance of Payments Adjustment : The United Kingdom Case / Sir James Ball & Donald Robertson = 229
  The J-curve and the Indian Trade Balance : A Quantitative Perspective / Kanta Marwah = 253
  Models of Exchange Rate Behavior : Application to the Yen and the Mark / Sung Yeung Kwack = 277
  Exchange Rate Unions Versus Flexible Exchange Rates : An Empirical Investigation / Michael G. Papaioannou = 305
  Japan's Macroeconomic Policy and Japan-US Economic Relations During the Eighties / Chikashi Moriguchi = 327
Price Competitiveness : The Home Price and The World Price
  Comparative Country Performance at Own-Prices or Common International Prices / Alan Heston, Daniel A. Nuxoll & Robert Summers = 345
  On the Determinants of Price Competitiveness in the World Market : A Comparative Analysis of the United States, Japan and West Germany / Soshichi Kinoshita = 363
  An East Asian Model of Price and Variety Competition / Andrds Simon = 369
Sectoral Econometric Modeling
  Modeling the Household Economy / Duncan S. Ironmonger = 397
  Econometrics and Environmental Policy Analysis / Richard F. Kosobud = 419
  Modeling Inventory Investment and Profits in A Macro-econometric Model / Joel Popkin = 441
  Actual and "Normal" Inventories of Finished Goods : Qualitative and Quantitative Evidence from the Italian Manufacturing Sector / Paolo Sestito & Ignacio Visco = 451
  The Flow-of-Funds Equations of Japanese Banks / Mitsuo. Saito, Kazuo Ogawa, & Ichiro Tokutsu = 469
Country／Area Specific Econometrics Modeling
  Modeling Transition from the Cetrally Planned Economies to the Market Economies : A Case Study of Poland / Wladyslaw Welfe = 495
  An Analysis of the Effects of Economic Policies on Taiwan's Economic Growth and Stability / Tzong-shian Yu = 519
  China's Macroeconometric Model for Project Link / Wu Jiapei, Liang Youcai, & Zhang Yaxiong = 543
Author Index = 565
Subject Index = 571