Global and National Macroeconometric Modelling
A Long-Run Structural Approach
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Product details:
- Publisher OUP Oxford
- Date of Publication 3 August 2006
- ISBN 9780199296859
- Binding Hardback
- No. of pages400 pages
- Size 241x164x28 mm
- Weight 742 g
- Language English
- Illustrations Numerous tables and line drawings 0
Categories
Short description:
This book provides a comprehensive description of the current state of modelling in global and national economies. It introduces an approach to modelling that can readily be adopted for use in understanding how economies work and in generating forecasts for decision-makers and policy-makers alike. The approach is illustrated with various global and national examples, including a step-by-step description of the development and use of a model of the UK economy.
MoreLong description:
This book provides a comprehensive description of the state-of-the-art in modelling global and national economies. It introduces the long-run structural approach to modelling that can be readily adopted for use in understanding how economies work, and in generating forecasts for decision- and policy-makers. The book contains a thorough description of recent developments in macroeconomics and econometrics, which should be of interest to advanced students and researchers, but is also written to be accessible and helpful to practitioners in government and the private sector. The long-run structural approach is illustrated with various global and national examples, including a step-by-step description of the development and use of a model of the UK economy. Throughout, the book emphasises the use of macroeconometric modelling in the real world and is written in a way that ensures the techniques illustrated can be replicated or applied in new contexts. The transparency and pragmatism of the modelling approach used within this book will be attractive to practitioners who need manageable and interpretable models to answer specific questions.
MoreTable of Contents:
Introduction
Macroeconometric Modelling: Alternative Approaches
National and Global Structural Macroeconometric Modelling
An Economic Theory of the Long Run
An Economic Theory of the Short Run
Econometric Methods: A Review
Probability Forecasting: Concepts and Analysis
The UK Macroeconomy
A Long-Run Structural Model of the UK
Impulse Response and Trend/ Cycle Properties of the UK Model
Probability Event Forecasting with the UK Model
Global Modelling and Other Applications
Concluding Remarks
Appendix A: Derivation of the Interest Rate Rule
Appendix B: Invariance Properties of the Impulse Responses with respect to Monetary Policy Shocks
Appendix C: Data for the UK Model
Appendix D: Gauss Programs and Result Files
