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Inside a Modern Macroeconometric Model: A Guide to the Murphy Model.

Inside a Modern Macroeconometric Model: A Guide to the Murphy Model.

・ISBN 978-3-540-60027-5 soft

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著者・編者Powell, A. A. / C. W. Murphy,
シリーズLecture Notes in Economics and Mathematical Systems 428
出版社(Springer, GW)
出版年月1995
ページ数424 pp.
言語ENG
ニュース番号<414-122>

解説

This work presents an account of how a state-of-the-art macro model is built, and how it works. Throughout, the emphasis is on providing the reader with a hands-on appreciation of the underlying economics, and of the model's practical implementation. The model described is an example of the newer breed of macro models that: (a) have strong micro foundations; (b) incorporate rational expectations in financial markets; (c) converge over simulated time to an interpretable balanced growth path; and (d) draw on the strengths of many different traditions in economics.