Thijs Ten Raa

In this book the author analyzes measures of consumer well-being. The three main, neoclassical measures of well-being are the compensating variation, the equivalent variation, and consumer's surplus. The question is which of the measures of consumer well-being is the best. This book tackles the question, with a surprising outcome that is contrary to the main opinion in the literature. Prof ten Raa presents a test that measures must pass to track utility. The test will be used to sort measures in the remainder of the book. It will culminate in a variant of consumer's surplus, which he calls the consumer's index, and a generalization that applies to nonhomothetic demands. Variants of the consumer's index are presented, including ones that are applicable to demand functions with income effects, even nonlinear ones. So-called broad measures of consumer well-being, such as the Human Development Index, will be encompassed.

Efficiency is the most important objective in economics and this book shows how it can be analyzed using input and output data at all levels of the economy. After his 'Input-Output Economics: Theory and Applications', Thijs ten Raa has extended his research to efficiency analysis. He has contributed to the microeconomic theory of performance measurement, made applications to industries, national economies and international trade, and written on the history of economic thought. Twenty-five new papers, published in the last decade are now collected and interrelated by an introduction, amounting to a unification of theory and applications in efficiency and input-output analyses.Efficiency analysts measure firm performance relative to the best practice, which is determined by a firm (or collection of firms) operating on the frontier of the production possibilities. More precisely, efficiency is relative productivity, where the latter is essentially output per 'unit' of input. On the other hand, input-output analysts study input per 'unit' of output. The concept of the one is the inverse of the other and this insight will help resolve open issues in either branch of economic science. Environmental objectives are shown to be achievable by reallocations of production. Benchmarking theory is developed and used to measure how well (or poor) industries and economies are organized. Papers on the history of economic thought round out the volume.

This book aims to make the nature of input-output analysis in economics clearly accessible and, contrary to the opinion of many commentators, shows that this type of analysis can be compatible with the doctrines of neoclassical economics.

Microeconomics: Equilibrium and Efficiency teaches how to apply microeconomic theory in an innovative, intuitive and concise way. Using real-world, empirical examples, this book not only covers the building blocks of the subject, but helps gain a broad understanding of microeconomic theory and models.

Microeconomics: Equilibrium and Efficiency teaches how to apply microeconomic theory in an innovative, intuitive and concise way. Using real-world, empirical examples, this book not only covers the building blocks of the subject, but helps gain a broad understanding of microeconomic theory and models.

This timely book explores the relationships between technological change, efficiency, productivity growth and performance. Focusing on the interplay among industries in modern economies, the essays in this volume combine pure theory and empirical applications to provide an input-output analysis of productivity growth that is both broad and in-depth. Thijs ten Raa and Edward N. Wolff lay out a conceptual framework for interrelating alternative productivity and performance measures, unifying input-output and productivity analyses and applying them to scenarios at both the national economy and industry levels. Topics discussed include growth accounting, international trade, outsourcing and productivity spillovers, labor and capital, and efficiency analysis. This fascinating volume offers some of the best work from two of the brightest and best-known minds in the field. Students, professors and researchers working in economic theory, international economics, labor economics and financial and monetary policy will find much of interest in this thoughtful and comprehensive book.

Thijs ten Raa, author of the acclaimed text The Economics of Input-Output Analysis, now takes the reader to the forefront of the field. This volume collects and unifies his and his co-authors' research papers on national accounting, Input-Output coefficients, economic theory, dynamic models, stochastic analysis, and performance analysis. The research is driven by the task to analyze national economies. The final part of the book scrutinizes the emerging Asian economies in the light of international competition.

For businesses seeking to gain the edge over their competitors, benchmarking is an increasingly popular tool used to compare operations and performance. ten Raa elegantly presents the techniques and theory to explain how performance indices and rankings are developed and how they can be used to improve efficiency, productivity and profitability.

Input-output analysis is the main tool of applied equilibrium analysis. This textbook provides a systematic survey of the most recent developments in input-output analysis and their applications, helping us to examine questions such as: Which industries are competitive? What are the multiplier effects of an investment program? How do environmental restrictions impact on prices? Linear programming and national accounting are introduced and used to resolve issues such as the choice of technique, the comparative advantage of a national economy, its efficiency and dynamic performance. Technological and environmental spillovers are analysed, both at the national level (between industries) and the international level (the measurement of globalisation effects). The book is self-contained, but assumes some familiarity with calculus, matrix algebra, and the microeconomic principle of optimizing behaviour. Exercises and review questions are included at the end of each chapter, and solutions at the end of the book.

Input-output analysis is the main tool of applied equilibrium analysis. This textbook provides a systematic survey of the most recent developments in input-output analysis and their applications, helping us to examine questions such as: Which industries are competitive? What are the multiplier effects of an investment program? How do environmental restrictions impact on prices? Linear programming and national accounting are introduced and used to resolve issues such as the choice of technique, the comparative advantage of a national economy, its efficiency and dynamic performance. Technological and environmental spillovers are analysed, both at the national level (between industries) and the international level (the measurement of globalisation effects). The book is self-contained, but assumes some familiarity with calculus, matrix algebra, and the microeconomic principle of optimizing behaviour. Exercises and review questions are included at the end of each chapter, and solutions at the end of the book.

This book aims to make the nature of input-output analysis in economics clearly accessible and, contrary to the opinion of many commentators, shows that this type of analysis can be compatible with the doctrines of neoclassical economics.