Inside A Modern Macroeconometric Model
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Inside A Modern Macroeconometric Model
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Author : Alan A. Powell
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Inside A Modern Macroeconometric Model written by Alan A. Powell and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
As Ken Wallis has pOinted out. all macroeconomic forecasters and policy analysts use economic models. That is. they have a way of going from assumptions about macroeconomic policy and the international environment. to a prediction of the likely future state of the economy. Some people do this in their heads. Increasingly though. forecasting and policy analysis is based on a formal. explicit model. represented by a set of mathematical equations and solved by computer. This provides a framework for handling. in a consistent and systematic manner. the ever-increasing amounts of relevant information. Macroeconometric modelling though. is an inexact science. A manageable model must focus only on the major driving forces in a complex economy made up of millions of households and fIrms. International economic agencies such as the IMF and OECD. and most treasuries and central banks in western countries. use macroeconometric models in their forecasting and policy analysis. Models are also used for teaching and research in universities. as well as for commercial forecasting in the private sector.
Time Series Analysis And Macroeconometric Modelling
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Author : Kenneth Frank Wallis
language : en
Publisher: Edward Elgar Publishing
Release Date : 1995-01-01
Time Series Analysis And Macroeconometric Modelling written by Kenneth Frank Wallis and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-01-01 with Business & Economics categories.
'An excellent reference volume of this author's work, bringing together articles published over a 25 year span on the statistical analysis of economic time series, large scale macroeconomic modelling and the interface between them.' - Aslib Book Guide This major volume of essays by Kenneth F. Wallis features 28 articles published over a quarter of a century on the statistical analysis of economic time series, large-scale macroeconometric modelling, and the interface between them. The first part deals with time-series econometrics and includes significant early contributions to the development of the LSE tradition in time-series econometrics, which is the dominant British tradition and has considerable influence worldwide. Later sections discuss theoretical and practical issues in modelling seasonality and forecasting with applications in both large-scale and small-scale models. The final section summarizes the research programme of the ESRC Macroeconomic Modelling Bureau, a unique comparison project among economy-wide macroeconometric models.
Disequilibrium Macroeconomic Models
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Author : Jean-Paul Lambert
language : en
Publisher: CUP Archive
Release Date : 1988-05-26
Disequilibrium Macroeconomic Models written by Jean-Paul Lambert and has been published by CUP Archive this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988-05-26 with Business & Economics categories.
Dynamic Macroeconomic Models In Emerging Market Economies
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Author : Daniel Lukui Jia
language : en
Publisher: Springer Nature
Release Date : 2020-08-26
Dynamic Macroeconomic Models In Emerging Market Economies written by Daniel Lukui Jia and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-08-26 with Business & Economics categories.
This book summarizes the evolution of modern macroeconomics (New Consensus Macroeconomics, NCM) and proposes a new approach to theoretical and empirical analysis, which is based on a recently developed dynamic stochastic general equilibrium (DSGE) model. Dynamic macroeconomic analysis in emerging market economies is challenging, and of growing importance in the global economy, where emerging markets are becoming more and more influential. Clearly, a deeper understanding of the inner workings of emerging economies, particularly with respect to their socioeconomic structure and the urbanization process, is needed. The book’s extends the NCM/DSGE model to better account for significant economic and social features in emerging market economies. In particular, household heterogeneities and social stratification are explicitly incorporated into the framework proposed here, substantially enhancing the comprehensiveness of the model economy, and allowing it to better account for underlying social structure in emerging economies. Furthermore, financial and housing markets have not been considered sufficiently in either the advanced or emerging economy literature, an oversight this book remedies. As such, it makes an original and valuable contribution to the field, and a direction for future research.
Macroeconomic Models For Adjustment In Developing Countries
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1991-06-15
Macroeconomic Models For Adjustment In Developing Countries written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-06-15 with Business & Economics categories.
This volume, edited by Mohsin S. Khan, Peter J. Montiel, and Nadeem U. Haque, examines recent IMF-developed empirical macroeconomic models dealing with adjustment and stabilization policies in developing countries. Some models are relevant for specific countries, and others relate to groups of developing countries.
Dynamic Econometrics For Empirical Macroeconomic Modelling
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Author : Ragnar Nymoen
language : en
Publisher: World Scientific
Release Date : 2019-07-09
Dynamic Econometrics For Empirical Macroeconomic Modelling written by Ragnar Nymoen and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-09 with Business & Economics categories.
For Masters and PhD students in EconomicsIn this textbook, the duality between the equilibrium concept used in dynamic economic theory and the stationarity of economic variables is explained and used in the presentation of single equations models and system of equations such as VARs, recursive models and simultaneous equations models.The book also contains chapters on: exogeneity, in the context of estimation, policy analysis and forecasting; automatic (computer based) variable selection, and how it can aid in the specification of an empirical macroeconomic model; and finally, on a common framework for model-based economic forecasting.Supplementary materials and notes are available on the publisher's website.
Income Distribution In Macroeconomic Models
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Author : Giuseppe Bertola
language : en
Publisher: Princeton University Press
Release Date : 2014-09-28
Income Distribution In Macroeconomic Models written by Giuseppe Bertola and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-09-28 with Business & Economics categories.
This book looks at the distribution of income and wealth and the effects that this has on the macroeconomy, and vice versa. Is a more equal distribution of income beneficial or harmful for macroeconomic growth, and how does the distribution of wealth evolve in a market economy? Taking stock of results and methods developed in the context of the 1990s revival of growth theory, the authors focus on capital accumulation and long-run growth. They show how rigorous, optimization-based technical tools can be applied, beyond the representative-agent framework of analysis, to account for realistic market imperfections and for political-economic interactions. The treatment is thorough, yet accessible to students and nonspecialist economists, and it offers specialist readers a wide-ranging and innovative treatment of an increasingly important research field. The book follows a single analytical thread through a series of different growth models, allowing readers to appreciate their structure and crucial assumptions. This is particularly useful at a time when the literature on income distribution and growth has developed quickly and in several different directions, becoming difficult to overview.
Macroeconomic Modeling And Policy Analysis For Less Developed Countries
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Author : Mohammed F Khayum
language : en
Publisher: Routledge
Release Date : 2019-03-07
Macroeconomic Modeling And Policy Analysis For Less Developed Countries written by Mohammed F Khayum and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-07 with Social Science categories.
This book provides an overview of macroeconometric modeling for less developed countries, a description of the structure and performance of Guyana's economy, an empirical testing of the model using annual data for Guyana, and a simulation approach to policy evaluation.
Macroeconomic Modelling Economic Policy And Methodology
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Author : Mikael Randrup Byrialsen
language : en
Publisher: Taylor & Francis
Release Date : 2022-10-27
Macroeconomic Modelling Economic Policy And Methodology written by Mikael Randrup Byrialsen and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-10-27 with Business & Economics categories.
Demonstrating that there are (superior) alternatives to the modern macroeconomic mainstream and its DSGE (dynamic stochastic general equilibrium) models, this book presents the cutting edge in macroeconomic modelling, economic policy, and methodology from the perspective of heterodox economic thinking. The first part of the book explores methodological issues, advocating for a stronger ethical consideration in macroeconomics and for the adoption of a strategy of pluralism to ensure that macroeconomic theory is capable of adapting to real-world issues. The second part highlights recent trends in empirical Stock-Flow Consistent models by collecting a group of the most well-developed empirical models of five different economies: the Danish, the Dutch, the French, the Italian, and the Argentinian models. In all five cases, the models are used to discuss various policy aspects of the individual economies. Finally, the book explores issues of macroeconomic policy which are largely neglected by mainstream economists including financial (in)stability and macro imbalances. The book emphasizes the need for investigating sectoral balances, which are crucial elements for investigating imbalances from the heterodox perspective. This book will be of significant interest to students and scholars of macroeconomics, economic modelling, economic methodology and heterodox economics more broadly.
Disequilibrium Growth And Labor Market Dynamics
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Author : Carl Chiarella
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-06-29
Disequilibrium Growth And Labor Market Dynamics written by Carl Chiarella and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06-29 with Business & Economics categories.
In this book on disequilibrium, growth and labor market dynamics we take predominantly a macroeconomic perspective. We present a working model that can easily be varied in different directions in order to subsume innovations in the literature on macroeconomics, old and new, and to contribute to important currently discussed macroeconomic issues. Our working model is set up in a way that there is a close relationship between our presented dynamic models and modern macro econometric models with disequilibrium both in the labor and the goods markets. One of our objectives is, therefore, to narrow the gap between theoretical and applied structural macrodynamic model building. We hope that the book will be a useful reference for all researchers, academic teachers and practitioners of macroeconomic and macro econometric model building who are interested in economic dynamics, independently of whether they use equilibrium or disequilibrium methods in their own research. We base this hope on the fact that our approach contains a number of unique features. The emphasis on the identification and analysis of the basic feedback mechanisms at work in modern macro economies. A detailed study of the partial as well as integrated dynamic interaction between these feedback mechanisms that consti tute the interdependence of markets and sectors of the modern macro economy. The rela tionship between the macroeconomic framework of our working model and the Walrasian, Non-Walrasian and New-Keynesian reformulations of macroeconomics.