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Macroeconomic Modelling of the Long Run

Author: Colin P. Hargreaves

Publisher: Edward Elgar Publishing

Published: 1992

Total Pages: 422

ISBN-13:

This important book presents new original material on the economic modelling of the long run by some of the world's leading economists. There is great interest now in modelling the 'long run' occasioned by substantial changes to the supply side of the world economy (the break up of the USSR, Europe 1992, the Gulf War) and also fears over the sustainability of external debt positions. New techniques have arisen to address these issues, in particular supply side modelling and the new co-integration methodology for statistical analysis of the long run. In addition to explaining the theoretical developments, this book presents many practical applications showing the value of the new techniques. This book will be essential reading for economic researchers and advanced students of macroeconomics.

The Econometrics of Macroeconomic Modelling

Author: Gunnar Bårdsen

Publisher: Oxford University Press, USA

Published: 2005

Total Pages: 361

ISBN-13: 0199246491

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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.

Macroeconomic Modelling in a Changing World

Author: Christopher Allen

Publisher:

Published: 1997-02-12

Total Pages: 362

ISBN-13:

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Macroeconomic Modelling in a Changing World Towards a Common Approach Edited by Chris Allen and Stephen Hall Practical economic model building has changed enormously over the last twenty years. Econometrics has become much more sophisticated with the introduction of cointegration and non-stationary time series analysis. The use of economic theory in the form of complex non-linear cross equation restrictions is now much more widespread and the explicit modelling of expectations and credibility effects is more satisfactory. This has meant that the old style macroeconomic models which were complex by virtue of their size alone have been replaced by a generation of new models which embody complex theory and estimation to provide more superior forecasting and policy tools. Macroeconomic Modelling in a Changing World outlines the modelling approach which has been adopted at the Centre for Economic Forecasting at the London Business School, one of the world’s leading research institutes into macroeconomic modelling, in building its own models. Using explicit examples and illustrations, the authors examine the latest state-of-the-art models, and answer questions such as: How are modern econometrics used by model builders? How should we deal with structural change? How should expectations be modelled? How are models used in practice? Economics

Global and National Macroeconometric Modelling

Author: Anthony Garratt

Publisher: Oxford University Press (UK)

Published: 2012-03-15

Total Pages: 402

ISBN-13: 0199650462

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Providing a description of the state of modelling in global and national economies, this title 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.

Advanced Macroeconomics

Author: Filipe R. Campante

Publisher: LSE Press

Published: 2021-10-11

Total Pages: 420

ISBN-13: 1909890707

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Macroeconomic policy is one of the most important policy domains, and the tools of macroeconomics are among the most valuable for policy makers. Yet there has been, up to now, a wide gulf between the level at which macroeconomics is taught at the undergraduate level and the level at which it is practiced. At the same time, doctoral-level textbooks are usually not targeted at a policy audience, making advanced macroeconomics less accessible to current and aspiring practitioners. This book, born out of the Masters course the authors taught for many years at the Harvard Kennedy School, fills this gap. It introduces the tools of dynamic optimization in the context of economic growth, and then applies them to a wide range of policy questions – ranging from pensions, consumption, investment and finance, to the most recent developments in fiscal and monetary policy. It does so with the requisite rigor, but also with a light touch, and an unyielding focus on their application to policy-making, as befits the authors’ own practical experience. Advanced Macroeconomics: An Easy Guide is bound to become a great resource for graduate and advanced undergraduate students, and practitioners alike.

Analyses in Macroeconomic Modelling

Author: Andrew J. Hughes Hallett

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 295

ISBN-13: 1461552192

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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.

Aggregate Demand and Supply

Author: B. Bhaskara Rao

Publisher: Springer

Published: 2016-07-27

Total Pages: 240

ISBN-13: 1349262935

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'I wish Professor Rao and his collaborators every success in ensuring that future generations of students do not have to put up with logically incoherent foundations to their understanding of modern economic systems' - G.C. Harcourt, Jesus College, Cambridge There is now an increasing realisation that the popular textbook macroeconomic model of aggregate demand and supply is logically incorrect. While there is a broad agreement among the critiques on these logical flaws there has been no such agreement on how the basic textbook macromodel should be modified. The essays in this volume contain very promising alternative models which will significantly influence the way macroeconomics will be taught in the future.

Macroeconomic Model

Author: Fouad Sabry

Publisher: One Billion Knowledgeable

Published: 2024-04-15

Total Pages: 297

ISBN-13:

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What is Macroeconomic Model A macroeconomic model is an analytical tool designed to describe the operation of the problems of economy of a country or a region. These models are usually designed to examine the comparative statics and dynamics of aggregate quantities such as the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the level of prices. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Macroeconomic model Chapter 2: Macroeconomics Chapter 3: Rational expectations Chapter 4: New Keynesian economics Chapter 5: Monopoly profit Chapter 6: Fiscal policy Chapter 7: Phillips curve Chapter 8: Nominal rigidity Chapter 9: Lucas critique Chapter 10: Representative agent Chapter 11: Economic model Chapter 12: Computational economics Chapter 13: Demand for money Chapter 14: Dynamic stochastic general equilibrium Chapter 15: Microfoundations Chapter 16: Neoclassical synthesis Chapter 17: History of macroeconomic thought Chapter 18: Jacques Drèze Chapter 19: Large-scale macroeconometric model Chapter 20: Heterogeneity in economics Chapter 21: Moral hazard (II) Answering the public top questions about macroeconomic model. (III) Real world examples for the usage of macroeconomic model in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Macroeconomic Model.

International Macroeconomic Modelling for Policy Decisions

Author: P. Artus

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 268

ISBN-13: 9400943474

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This book is based on an international conference organised by the Applied Econo metric Association (AEA) on International Macroeconomic Modelling which was held in Brussels at the Commission of the European Communities in December 1983. On behalf of the Applied Econometric Association, we would like to extend our thanks to all participants and contributors. This conference would not have been possible without the cooperation and support of the Commission of the European Economic Communities and of its Directorate General for Economics and Financial Affairs (DGII) staff, in particular M. Emerson, A. Dramais, and also H. Serbat of the Paris Chamber of Commerce and Industry. Our thanks go also to J.P. Ancot for his constructive comments concerning the structure of this book. We are grateful to M. Russo, R. Maldague and Y. Ullmo for opening the con ference with their stimulating review and comments on the use of international macroeconomic models; and to R. Bird, A.M. Costa, A. Crockett, H. Guitton, J.C. Milleron, J. Paelinck, J. Waelbroeck for chairing the scientific sessions. P. Artus F. Gagey O. Guvenen vi INTRODUCTION The main focus of this book is to present recent developments in the construction and use of international macroeconometric models. Four main aspects are selected: (i) analysis of trade linkages and exchange rate determination; (ii) modelling and simulating the international economy; (iii) international policy coordination; (iv) the use of international macroeconomic models.

Long-Term Macroeconomic Effects of Climate Change: A Cross-Country Analysis

Author: Matthew E. Kahn

Publisher: International Monetary Fund

Published: 2019-10-11

Total Pages: 59

ISBN-13: 1513514598

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We study the long-term impact of climate change on economic activity across countries, using a stochastic growth model where labor productivity is affected by country-specific climate variables—defined as deviations of temperature and precipitation from their historical norms. Using a panel data set of 174 countries over the years 1960 to 2014, we find that per-capita real output growth is adversely affected by persistent changes in the temperature above or below its historical norm, but we do not obtain any statistically significant effects for changes in precipitation. Our counterfactual analysis suggests that a persistent increase in average global temperature by 0.04°C per year, in the absence of mitigation policies, reduces world real GDP per capita by more than 7 percent by 2100. On the other hand, abiding by the Paris Agreement, thereby limiting the temperature increase to 0.01°C per annum, reduces the loss substantially to about 1 percent. These effects vary significantly across countries depending on the pace of temperature increases and variability of climate conditions. We also provide supplementary evidence using data on a sample of 48 U.S. states between 1963 and 2016, and show that climate change has a long-lasting adverse impact on real output in various states and economic sectors, and on labor productivity and employment.