Macroeconomic Modelling
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The Econometrics Of Macroeconomic Modelling
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Author : Gunnar Bårdsen
language : en
Publisher: Oxford University Press, USA
Release Date : 2005
The Econometrics Of Macroeconomic Modelling written by Gunnar Bårdsen and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.
This work describes how the discipline has adapted to changing demands by adopting new insights from economic theory and by taking advantage of the methodological and conceptual advances within time series econometrics.
Challenges For Macroeconomic Modelling
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Author : W. Driehuis
language : en
Publisher: Elsevier
Release Date : 2014-06-28
Challenges For Macroeconomic Modelling written by W. Driehuis and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-28 with Business & Economics categories.
This book collects the revised and edited proceedings of the conference held in honour of the 50th anniversary of Professor Tinbergen's first macroeconomic policy model. Written by experts both in the field of model building and policy analysis, the contributions provide an invaluable overview of the state of the art and the use of macroeconomic models in our time.
Analyses In Macroeconomic Modelling
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Author : Andrew J. Hughes Hallett
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Analyses In Macroeconomic Modelling written by Andrew J. Hughes Hallett 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.
Macroeconomic Modelling has undergone radical changes in the last few years. There has been considerable innovation in developing robust solution techniques for the new breed of increasingly complex models. Similarly there has been a growing consensus on their long run and dynamic properties, as well as much development on existing themes such as modelling expectations and policy rules. This edited volume focuses on those areas which have undergone the most significant and imaginative developments and brings together the very best of modelling practice. We include specific sections on (I) Solving Large Macroeconomic Models, (II) Rational Expectations and Learning Approaches, (III) Macro Dynamics, and (IV) Long Run and Closures. All of the contributions offer new research whilst putting their developments firmly in context and as such will influence much future research in the area. It will be an invaluable text for those in policy institutions as well as academics and advanced students in the fields of economics, mathematics, business and government. Our contributors include those working in central banks, the IMF, European Commission and established academics.
The Econometrics Of Macroeconomic Modelling
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Author : Gunnar Bårdsen
language : en
Publisher: OUP Oxford
Release Date : 2005-04-14
The Econometrics Of Macroeconomic Modelling written by Gunnar Bårdsen and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-04-14 with Business & Economics categories.
Macroeconometric models, in many ways the flagships of the economist's profession in the 1960s, came under increasing attack from both theoretical economist and practitioners in the late 1970s. Critics referred to their lack of microeconomic theoretical foundations, ad hoc models of expectations, lack of identification, neglect of dynamics and non-stationarity, and poor forecasting properties. By the start of the 1990s, the status of macroeconometric models had declined markedly, and had fallen completely out of, and with, academic economics. Nevertheless, unlike the dinosaurs to which they often have been likened, macroeconometric models have never completely disappeared from the scene. This book describes how and why the discipline of macroeconometric modelling continues to play a role for economic policymaking by adapting to changing demands, in response, for instance, to new policy regimes like inflation targeting. Model builders have adopted new insights from economic theory and taken advantage of the methodological and conceptual advances within time series econometrics over the last twenty years. The modelling of wages and prices takes a central part in the book as the authors interpret and evaluate the last forty years of international research experience in the light of the Norwegian 'main course' model of inflation in a small open economy. The preferred model is a dynamic model of incomplete competition, which is evaluated against alternatives as diverse as the Phillips curve, Nickell-Layard wage curves, the New Keynesian Phillips curve, and monetary inflation models on data from the Euro area, the UK, and Norway. The wage price core model is built into a small econometric model for Norway to analyse the transmission mechanism and to evaluate monetary policy rules. The final chapter explores the main sources of forecast failure likely to occur in a practical modelling situation, using the large-scale nodel RIMINI and the inflation models of earlier chapters as case studies.
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.
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.
Market Behaviour And Macroeconomic Modelling
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Author : Simon Kuipers
language : en
Publisher: Springer
Release Date : 1998-11-12
Market Behaviour And Macroeconomic Modelling written by Simon Kuipers and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-11-12 with Business & Economics categories.
Market Behaviour and Macroeconomic Modelling discusses several state-of-the-art developments in the modelling approach to market behaviour in macroeconomic modelling. Leading experts in this field, deal with the implications of market imperfections in commodity markets, capital markets and labour markets for macroeconomic modelling and stabilization policy. They demonstrate that incorporating market imperfections leads to very different policy recommendations than those derived from the standard perfect competition model.
Rational Expectations In Macroeconomic Models
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Author : P. Fisher
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-04-17
Rational Expectations In Macroeconomic Models written by P. Fisher 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 2013-04-17 with Business & Economics categories.
It is commonly believed that macroeconomic models are not useful for policy analysis because they do not take proper account of agents' expectations. Over the last decade, mainstream macroeconomic models in the UK and elsewhere have taken on board the `Rational Expectations Revolution' by explicitly incorporating expectations of the future. In principle, one can perform the same technical exercises on a forward expectations model as on a conventional model -- and more! Rational Expectations in Macroeconomic Models deals with the numerical methods necessary to carry out policy analysis and forecasting with these models. These methods are often passed on by word of mouth or confined to obscure journals. Rational Expectations in Macroeconomic Models brings them together with applications which are interesting in their own right. There is no comparable textbook in the literature. The specific subjects include: (i) solving for model consistent expectations; (ii) the choice of terminal condition and time horizon; (iii) experimental design: i.e., the effect of temporary vs permanent, anticipated vs. unanticipated shocks; deterministic vs. stochastic, dynamic vs. static simulation; (iv) the role of exchange rate; (v) optimal control and inflation-output tradeoffs. The models used are those of the Liverpool Research Group in Macroeconomics, the London Business School and the National Institute of Economic and Social Research.
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.
Modelling Macroeconomic Adjustment With Growth In Developing Economies
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Author : Sushanta K. Mallick
language : en
Publisher: Routledge
Release Date : 2018-08-13
Modelling Macroeconomic Adjustment With Growth In Developing Economies written by Sushanta K. Mallick and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-08-13 with Business & Economics categories.
First published in 1999, this influential volume explores Macroeconomic Adjustment with a particular focus on India. Its inspiration originated from the introduction of stabilisation and structural adjustment policies in India in 1991. Mallick examines the application of this policy package by the International Monetary Fund and the World Bank to Developing Economies. First looking at the initial conditions and generators of imbalances, the appropriate policy framework for India’s initial conditions and structural characteristics is considered. While the effectiveness of the IMF had been strongly criticised, Mallick explains how it could be used more effectively. He argues that the programs applied are often contradictory and, using India as an example, examines the effects of policy reform on its trade sector, the repercussions on the direct economy and the costs associated with such policies in restoring stability and future economic growth, with particular support for the Vector Autoregression (VAR) framework. Mallick forwards a new structural model for policy purposes, evaluated for overall performance and optimal control.