Econometric Model Performance

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Author :
Publisher : University of Pennsylvania Press
ISBN 13 : 1512803561
Total Pages : 416 pages
Book Rating : 4.5/5 (128 download)

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Book Synopsis Econometric Model Performance by : Lawrence R. Klein

Download or read book Econometric Model Performance written by Lawrence R. Klein and published by University of Pennsylvania Press. This book was released on 2016-11-11 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: Models of the American economy exist in government, research institutes, universities, and private corporations. Given the proliferation, it is wise to take stock because these models come from diverse sources and describe different conditions from alternative points of view. They could be saying different things about the economy. The high-level comparative studies in this volume, gathered from several issues of the International Economic Review, with a substantive introduction and the addition of more comparative material, evaluate the performance of eleven models of the American economy: the Wharton Mark Ill Model; Brookings Model; Hickman-Coen Annual Model; Liu-Hwa Monthly Model; Data Resources, Inc. (DRI) Model; Federal Reserve Bank of St. Louis Model; Michigan Quarterly Econometric (MOEM) Model; Wharton Annual and Industry Model; Anticipation Version of the Wharton Mark Ill Model/Fair Model; U.S. Department of Commerce (BEA) Model. Each of the proprietors or builders of these models describes his own system in his own words. These studies come closer than ever before to standardizing model operations for testing purposes. Some of the models are monthly, while others are annual. but the quarterly unit of time is the most frequent. Some are demand oriented, others are supply oriented, and focus on the input-output sectors of the economy. Some use only observed. objective data; others use subjective. anticipatory data. Both large and small models are included. In spite of the diversity, the contributors have cooperated to trace the differences between their models to root causes and to report jointly the results of their research. There are also some general papers that look at model performance from outside the CEME group.

An Econometric Model of the US Economy

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Author :
Publisher : Springer
ISBN 13 : 3319506811
Total Pages : 460 pages
Book Rating : 4.3/5 (195 download)

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Book Synopsis An Econometric Model of the US Economy by : John J. Heim

Download or read book An Econometric Model of the US Economy written by John J. Heim and published by Springer. This book was released on 2017-12-06 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the US economy from 1960 to 2010 using a more Keynsian, Cowles model approach, which the author argues has substantial advantages over the vector autoregression (VAR) and dynamic stochastic general equilibrium (DSGE) models used almost exclusively today. Heim presents a robust argument in favor of the Cowles model as an answer to the pressing, unresolved methodological question of how to accurately model the macroeconomy so that policymakers can reliably use these models to assist their decision making. Thirty-eight behavioral equations, describing determinants of variables such as consumption, taxes, and government spending, are connected by eighteen identities to construct a comprehensive model of the real US economy that Heim then tests across four different time periods to ensure that results are consistent. This comprehensive demonstration of the value of a long-ignored model provides overwhelming evidence that the more Keynesian (Cowles) structural models outperform VAR and DSGE, and therefore should be the models of choice in future macroeconomic studies.

A Comparison of Econometric Models

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Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis A Comparison of Econometric Models by : United States. Congress. Joint Economic Committee

Download or read book A Comparison of Econometric Models written by United States. Congress. Joint Economic Committee and published by . This book was released on 1978 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Klein's Last Quarterly Econometric Model Of The United States: Wharton Econometric Model Mark 10

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Publisher : World Scientific
ISBN 13 : 981323055X
Total Pages : 268 pages
Book Rating : 4.8/5 (132 download)

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Book Synopsis Klein's Last Quarterly Econometric Model Of The United States: Wharton Econometric Model Mark 10 by : Ichimura Shinichi

Download or read book Klein's Last Quarterly Econometric Model Of The United States: Wharton Econometric Model Mark 10 written by Ichimura Shinichi and published by World Scientific. This book was released on 2018-02-14 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents Professor Lawrence R Klein and his group's last quarterly econometric model of the United States economy that they had produced at the University of Pennsylvania. This is the last econometric model that Lawrence Klein and his disciples have left after some 50 years of cumulated efforts of constructing the US economy model up to around 2000. It was widely known as the WEFA Econometric Model Mark 10, and is the culmination of Professor Klein's research which spans more than 70 years, and would please not only Professor Klein's old students and colleagues, but also younger students who have heard so much of Klein models but have yet to see the latest model in its complete and printed form. Contents: Introduction Outline of the Core Model Overview of Industry Model Some Estimation Methods Estimated Equations of the Core Model Multiplier Analysis of Wharton Model Later Versions of WEFA Model and Some Observations on Forecasting Appendix: The WEFA Model in Detail Readership: Students and researchers, especially those doing econometric modeling, who are interested to understand the US economy model. Keywords: Quarterly Econometric Model;Wharton;WEFA;Forecast;KleinReview:0

Economic Modeling and Inference

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Publisher : Princeton University Press
ISBN 13 : 1400833108
Total Pages : 488 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Economic Modeling and Inference by : Bent Jesper Christensen

Download or read book Economic Modeling and Inference written by Bent Jesper Christensen and published by Princeton University Press. This book was released on 2021-07-13 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic Modeling and Inference takes econometrics to a new level by demonstrating how to combine modern economic theory with the latest statistical inference methods to get the most out of economic data. This graduate-level textbook draws applications from both microeconomics and macroeconomics, paying special attention to financial and labor economics, with an emphasis throughout on what observations can tell us about stochastic dynamic models of rational optimizing behavior and equilibrium. Bent Jesper Christensen and Nicholas Kiefer show how parameters often thought estimable in applications are not identified even in simple dynamic programming models, and they investigate the roles of extensions, including measurement error, imperfect control, and random utility shocks for inference. When all implications of optimization and equilibrium are imposed in the empirical procedures, the resulting estimation problems are often nonstandard, with the estimators exhibiting nonregular asymptotic behavior such as short-ranked covariance, superconsistency, and non-Gaussianity. Christensen and Kiefer explore these properties in detail, covering areas including job search models of the labor market, asset pricing, option pricing, marketing, and retirement planning. Ideal for researchers and practitioners as well as students, Economic Modeling and Inference uses real-world data to illustrate how to derive the best results using a combination of theory and cutting-edge econometric techniques. Covers identification and estimation of dynamic programming models Treats sources of error--measurement error, random utility, and imperfect control Features financial applications including asset pricing, option pricing, and optimal hedging Describes labor applications including job search, equilibrium search, and retirement Illustrates the wide applicability of the approach using micro, macro, and marketing examples

A History of Macroeconometric Model-building

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Author :
Publisher : Aldershot, Hants, England : E. Elgar
ISBN 13 :
Total Pages : 600 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis A History of Macroeconometric Model-building by : Ronald G. Bodkin

Download or read book A History of Macroeconometric Model-building written by Ronald G. Bodkin and published by Aldershot, Hants, England : E. Elgar. This book was released on 1991 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt: This major book presents, for the first time, an authoritative history of developments in macroeconometric modelling since the 1930s. It focuses in particular on the construction of mathematico-statistical models of entire economies, estimated from national accounts and other macroeconomic data. International and comparative in scope, the book contains chapters prepared by specialists from the different countries concerned. This landmark book is indispensable to an understanding of the history and development of large scale econometric models of modern economies.

The 4% Solution

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Publisher : Crown Currency
ISBN 13 : 0307986152
Total Pages : 370 pages
Book Rating : 4.3/5 (79 download)

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Book Synopsis The 4% Solution by : The Bush Institute

Download or read book The 4% Solution written by The Bush Institute and published by Crown Currency. This book was released on 2012-07-17 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foreword by President George W. Bush With contributions from world renowned economists and Nobel prizewinners, The 4% Solution is a blueprint for restoring America’s economic health The United States is reaching a pivotal point in its economic history. Millions of Americans owe more on their homes than they are worth, long-term unemployment is alarmingly high, and the Congressional Budget Office is projecting a sustainable growth rate of only 2.3%—a full percentage point below the average for the past sixty years. Unless a turnaround comes quickly, the United States could be mired in debt for years to come and millions of Americans will be pushed to the sidelines of the economy. The 4% Solution offers clear and unflinching ideas on how to revive America’s economy. It sets a positive economic goal and asks some of the top economic minds on how to achieve it. With a focus on removing government constraints, The 4% Solution defines the policies that will allow Americans to save, invest, and create the jobs that the United States needs. The 4% Solution draws on the best minds in the business, including five Nobel laureates: · Robert E. Lucas, Jr., on the history and future of economic growth · Gary S. Becker on why we need immigrants in order to grow · Edward Prescott on the cost (to growth) of the welfare state · Vernon Smith on why housing leads us into and out of recessions · Myron Scholes on why we need to innovate in order to grow the economy

The DRI Model of the U.S. Economy

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Author :
Publisher : McGraw-Hill Companies
ISBN 13 :
Total Pages : 280 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis The DRI Model of the U.S. Economy by : Otto Eckstein

Download or read book The DRI Model of the U.S. Economy written by Otto Eckstein and published by McGraw-Hill Companies. This book was released on 1983 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traces the development of the Data Resources economic model, discusses some of its most important equations, and tells how economic simulation is used to make forecasts and test theories.

An Econometric Model for Long-range Projections of the United States' Economy

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Publisher :
ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis An Econometric Model for Long-range Projections of the United States' Economy by : Ahmad Al-Samarrie

Download or read book An Econometric Model for Long-range Projections of the United States' Economy written by Ahmad Al-Samarrie and published by . This book was released on 1971 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Comparative Performance of U.S. Econometric Models

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Publisher : Oxford University Press, USA
ISBN 13 : 0195057724
Total Pages : 338 pages
Book Rating : 4.1/5 (95 download)

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Book Synopsis Comparative Performance of U.S. Econometric Models by : Lawrence Robert Klein

Download or read book Comparative Performance of U.S. Econometric Models written by Lawrence Robert Klein and published by Oxford University Press, USA. This book was released on 1991 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: Each year, a number of different economic groups in the USA use their own econometric models to forecast what will happen to the economy in the coming year. This volume consists of chapters by distinguished economists comparing the different models now being used.

The BEA Quarterly Econometric Model of the U.S. Economy

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis The BEA Quarterly Econometric Model of the U.S. Economy by : Albert A. Hirsch

Download or read book The BEA Quarterly Econometric Model of the U.S. Economy written by Albert A. Hirsch and published by . This book was released on 1985 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Klein's Last Quarterly Econometric Model of the United States

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Author :
Publisher : World Scientific Publishing Company
ISBN 13 : 9789813229938
Total Pages : 270 pages
Book Rating : 4.2/5 (299 download)

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Book Synopsis Klein's Last Quarterly Econometric Model of the United States by : Lawrence R. Klein

Download or read book Klein's Last Quarterly Econometric Model of the United States written by Lawrence R. Klein and published by World Scientific Publishing Company. This book was released on 2018 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents Professor Lawrence R Klein and his group's last quarterly econometric model of the United States economy that they had produced at the University of Pennsylvania. This is the last econometric model that Lawrence Klein and his disciples have left after some 50 years of cumulated efforts of constructing the US economy model up to around 2000. It was widely known as the WEFA Econometric Model Mark 10, and is the culmination of Professor Klein's research which spans more than 70 years, and would please not only Professor Klein's old students and colleagues, but also younger students who have heard so much of Klein models but have yet to see the latest model in its complete and printed form.

An Econometric Model of the U.S. Economy for Instructional Use at the Postgraduate School

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (19 download)

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Book Synopsis An Econometric Model of the U.S. Economy for Instructional Use at the Postgraduate School by : David Owen Rose

Download or read book An Econometric Model of the U.S. Economy for Instructional Use at the Postgraduate School written by David Owen Rose and published by . This book was released on 1974 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Wharton econometric forecasting model originally developed by M.K. Evans and L.R. Klein was re-estimated and respecified in order to construct an instructional tool to be used at the Naval Postgraduate School. Special attention was devoted to price relationships.

Economic Modeling in the Post Great Recession Era

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Publisher : John Wiley & Sons
ISBN 13 : 1119349834
Total Pages : 382 pages
Book Rating : 4.1/5 (193 download)

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Book Synopsis Economic Modeling in the Post Great Recession Era by : John E. Silvia

Download or read book Economic Modeling in the Post Great Recession Era written by John E. Silvia and published by John Wiley & Sons. This book was released on 2017-01-04 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reality-based modeling for today's unique economic recovery Economic Modeling in the Post Great Recession Era presents a more realistic approach to modeling, using direct statistical applications to address the characteristics and trends central to current market behaviors. This book's unique focus on the reality of today's markets makes it an invaluable resource for students and practitioners seeking a comprehensive guide to more accurate forecasting. While most books treat the economy as if it were in a vacuum, building models around idealized or perception-biased behaviors, this book deals with the economy as it currently stands—in a state of recovery, limited by financial constraints, imperfect information, and lags and disparities in price movements. The authors identify how these characteristics impact various markets' behaviors, and quantify those behaviors using SAS as the primary statistical tool. Today's economy bears a number of unique attributes that usual modeling methods fail to consider. This book describes how to approach modeling based on real-world, observable data in order to make better-informed decisions in today's markets. Discover the three economic characteristics with the greatest impact on various markets Create economic models that mirror the current post-recession reality Adopt statistical methods that identify and adapt to structural breaks and lags Factor real-world imperfections into modeling for more accurate forecasting The past few years have shown a clear demarcation between policymakers' forecasts and actual outcomes. As the dust settles on the Great Recession, after-effects linger—and impact our current recovery in ways that diverge from past experience and theoretical expectations. Economic Modeling in the Post Great Recession Era provides comprehensive guidance grounded in reality for today's economic decision-makers.

Failure by Design

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Publisher : Cornell University Press
ISBN 13 : 0801461138
Total Pages : 121 pages
Book Rating : 4.8/5 (14 download)

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Book Synopsis Failure by Design by : Josh Bivens

Download or read book Failure by Design written by Josh Bivens and published by Cornell University Press. This book was released on 2011-02-15 with total page 121 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Failure by Design, the Economic Policy Institute’s Josh Bivens takes a step back from the acclaimed State of Working America series, building on its wealth of data to relate a compelling narrative of the U.S. economy’s struggle to emerge from the Great Recession of 2008. Bivens explains the causes and impact on working Americans of the most catastrophic economic policy failure since the 1920s. As outlined clearly here, economic growth since the late 1970s has been slow and inequitably distributed, largely as a result of poor policy choices. These choices only got worse in the 2000s, leading to an anemic economic expansion. What growth we did see in the economy was fueled by staggering increases in private-sector debt and a housing bubble that artificially inflated wealth by trillions of dollars. As had been predicted, the bursting of the housing bubble had disastrous consequences for the broader economy, spurring a financial crisis and a rise in joblessness that dwarfed those resulting from any recession since the Great Depression. The fallout from the Great Recession makes it near certain that there will be yet another lost decade of income growth for typical families, whose incomes had not been boosted by the previous decade’s sluggish and localized economic expansion. In its broad narrative of how the economy has failed to deliver for most Americans over much of the past three decades, Failure by Design also offers compelling graphic evidence on jobs, incomes, wages, and other measures of economic well-being most relevant to low- and middle-income workers. Josh Bivens tracks these trends carefully, giving a lesson in economic history that is readable yet rigorous in its analysis. Intended as both a stand-alone volume and a companion to the new State of Working America website that presents all of the data underlying this cogent analysis, Failure by Design will become required reading as a road map to the economic problems that confront working Americans.

Field Guide to the U.S. Economy

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Publisher : The New Press
ISBN 13 : 1595580484
Total Pages : 258 pages
Book Rating : 4.5/5 (955 download)

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Book Synopsis Field Guide to the U.S. Economy by : Jonathan Teller-Elsberg

Download or read book Field Guide to the U.S. Economy written by Jonathan Teller-Elsberg and published by The New Press. This book was released on 2006 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: A lighthearted introduction to the myths and realities of the nation's economy draws on the wit and wisdom of more than forty progressive economists affiliated with the Center for Popular Economics and includes coverage of such topics as the environment, government spending, and the war in Iraq. Original.

An Econometric Model of the United States, 1929-1952

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Publisher :
ISBN 13 :
Total Pages : 192 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis An Econometric Model of the United States, 1929-1952 by : Lawrence Robert Klein

Download or read book An Econometric Model of the United States, 1929-1952 written by Lawrence Robert Klein and published by . This book was released on 1955 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: