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Macroeconomic Modelling Economic Policy And Methodology
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Book Synopsis Macroeconomic Modelling, Economic Policy and Methodology by : Mikael Randrup Byrialsen
Download or read book Macroeconomic Modelling, Economic Policy and Methodology written by Mikael Randrup Byrialsen and published by Taylor & Francis. This book was released on 2022-10-27 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Econometrics of Macroeconomic Modelling by : Gunnar Bårdsen
Download or read book The Econometrics of Macroeconomic Modelling written by Gunnar Bårdsen and published by Oxford University Press, USA. This book was released on 2005 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Advanced Macroeconomics by : Filipe R. Campante
Download or read book Advanced Macroeconomics written by Filipe R. Campante and published by LSE Press. This book was released on 2021-10-11 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Routledge Handbook of Macroeconomic Methodology by : Jesper Jespersen
Download or read book Routledge Handbook of Macroeconomic Methodology written by Jesper Jespersen and published by Taylor & Francis. This book was released on 2023-06-20 with total page 381 pages. Available in PDF, EPUB and Kindle. Book excerpt: Draws together the various strands and schools of thought to provide a unique overview of the methods employed in the research and study of macroeconomics. Demonstrates the relevance and vitality of macroeconomics beyond the idea of microeconomic foundations.
Book Synopsis Macroeconomic Modelling in a Changing World by : Christopher Allen
Download or read book Macroeconomic Modelling in a Changing World written by Christopher Allen and published by . This book was released on 1997-02-12 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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
Book Synopsis A Course in Macroeconomic Modelling and Forecasting by : John D. Whitley
Download or read book A Course in Macroeconomic Modelling and Forecasting written by John D. Whitley and published by . This book was released on 1994 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook is a thorough introduction to the theory and practice of macroeconomic modelling. It provides a rigorous exposition of the theory of modelling and examines the main UK and European macroeconomic models. Policy-relevant conclusions are drawn from the models, including new areas such as wealth effects and rational expectations. The text compares UK macroeconomic models with key US and European models, with an emphasis on policy analysis and the ERM.
Book Synopsis The Econometrics of Macroeconomic Modelling by : Gunnar Bårdsen
Download or read book The Econometrics of Macroeconomic Modelling written by Gunnar Bårdsen and published by OUP Oxford. This book was released on 2005-04-14 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis A Pluralistic Introduction to Macroeconomics by : Hendrik Van den Berg
Download or read book A Pluralistic Introduction to Macroeconomics written by Hendrik Van den Berg and published by Edward Elgar Publishing. This book was released on 2024-03-14 with total page 517 pages. Available in PDF, EPUB and Kindle. Book excerpt: This introductory textbook provides a broad introduction to the field of macroeconomics and the alternative approaches to modeling an economic system. It ultimately demonstrates that economic modeling is always a matter of choice and compromise, and no one school of thought can accurately capture the full essence of a real evolving economic system under all circumstances, in all places, and at all times in history.
Book Synopsis International Macroeconomic Modelling for Policy Decisions by : P. Artus
Download or read book International Macroeconomic Modelling for Policy Decisions written by P. Artus and published by Springer. This book was released on 2011-10-17 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Global and National Macroeconometric Modelling by : Anthony Garratt
Download or read book Global and National Macroeconometric Modelling written by Anthony Garratt and published by Oxford University Press (UK). This book was released on 2012-03-15 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author :Bern C.J. van Velthoven Publisher :Springer Science & Business Media ISBN 13 :3642745911 Total Pages :374 pages Book Rating :4.6/5 (427 download)
Book Synopsis The Endogenization of Government Behaviour in Macroeconomic Models by : Bern C.J. van Velthoven
Download or read book The Endogenization of Government Behaviour in Macroeconomic Models written by Bern C.J. van Velthoven and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: In chapter 2 we concluded that the present public choice and marxist approaches to the study of political processes, as far as relevant for the analysis of economic policy making, are unsatisfactory, for reasons of incoherency, insufficient empirical support, and lack of specificity~ It was suggested that a different approach to the subject might be fruitful. To that purpose, we now turn our attention to the so-called interest function approach to the study of politico-economic phenomena, that has been developed by Van Winden (1983). See also Van Winden (1987), Van Velthoven and Van Winden (1986). Without paying too much attention to the specific conduct of and intricate relationships between voters, politicians, bureaucrats and interest groups, the interest function approach intends to combine valuable elements of the marxist and public choice analyses. According to Van Winden (1983, p. 12) "this means that in studying the interaction between state and private sector, attention should be paid to: - social classes, and the impact of class/power relationships on political and economic processes; - the way that social power structures (involving the real control over state activities) are maintained or altered; - the relative autonomy of political processes (involving the state) and its consequences for, as well as its dependence on economic processes; - individual motivations; - the possibility of mathematical formalization. " Section 3. 2. will give a general introduction to the concepts and the line of argument of the interest function approach.
Book Synopsis Macroeconomic Modelling for Policy Analysis by : Rossella Bardazzi
Download or read book Macroeconomic Modelling for Policy Analysis written by Rossella Bardazzi and published by Firenze University Press. This book was released on 2013 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last 30 years, the Inforum approach to macro modelling has been shared by economists worldwide. Researchers have focussed much of their efforts to developing a linked system of international interindustry models with a consistent methodology. A world-wide network of research associates use the same methods and software obtaining comparable results. The XXth Inforum World Conference was held in Florence in September 2012 and this book contains a selection of papers presented during that Conference. All these contributions are aimed at policymakers, stakeholders, and applied economists. Some papers are devoted to specific topics (total factor productivity, energy issues, external linkages, demographic changes) and some others are oriented to macro model building and simulations.
Book Synopsis Macroeconomic Theory by : Michael Wickens
Download or read book Macroeconomic Theory written by Michael Wickens and published by Princeton University Press. This book was released on 2012-03-12 with total page 617 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive graduate textbook on modern macroeconomics Macroeconomic Theory is the most up-to-date graduate-level macroeconomics textbook available today. This revised second edition emphasizes the general equilibrium character of macroeconomics to explain effects across the whole economy while taking into account recent research in the field. It is the perfect resource for students and researchers seeking coverage of the most current developments in macroeconomics. Michael Wickens lays out the core ideas of modern macroeconomics and its links with finance. He presents the simplest general equilibrium macroeconomic model for a closed economy, and then gradually develops a comprehensive model of the open economy. Every important topic is covered, including growth, business cycles, fiscal policy, taxation and debt finance, current account sustainability, and exchange-rate determination. There is also an up-to-date account of monetary policy through inflation targeting. Wickens addresses the interrelationships between macroeconomics and modern finance and shows how they affect stock, bond, and foreign-exchange markets. In this edition, he also examines issues raised by the most recent financial crisis, and two new chapters explore banks, financial intermediation, and unconventional monetary policy, as well as modern theories of unemployment. There is new material in most other chapters, including macrofinance models and inflation targeting when there are supply shocks. While the mathematics in the book is rigorous, the fundamental concepts presented make the text self-contained and easy to use. Accessible, comprehensive, and wide-ranging, Macroeconomic Theory is the standard book on the subject for students and economists. The most up-to-date graduate macroeconomics textbook available today General equilibrium macroeconomics and the latest advances covered fully and completely Two new chapters investigate banking and monetary policy, and unemployment Addresses questions raised by the recent financial crisis Web-based exercises with answers Extensive mathematical appendix for at-a-glance easy reference This book has been adopted as a textbook at the following universities: American University Bentley College Brandeis University Brigham Young University California Lutheran University California State University - Sacramento Cardiff University Carleton University Colorado College Fordham University London Metropolitan University New York University Northeastern University Ohio University - Main Campus San Diego State University St. Cloud State University State University Of New York - Amherst Campus State University Of New York - Buffalo North Campus Temple University - Main Texas Tech University University of Alberta University Of Notre Dame University Of Ottawa University Of Pittsburgh University Of South Florida - Tampa University Of Tennessee University Of Texas At Dallas University Of Washington University of Western Ontario Wesleyan University Western Nevada Community College
Book Synopsis Macroeconomic Modelling of R&D and Innovation Policies by : Ufuk Akcigit
Download or read book Macroeconomic Modelling of R&D and Innovation Policies written by Ufuk Akcigit and published by Palgrave Macmillan. This book was released on 2021-12-03 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book encompasses a collection of in-depth analyses showcasing the challenges and ways forward for macroeconomic modelling of R&D and innovation policies. Based upon the proceedings of the EC-DG JRC-IEA workshop held in Brussels in 2017, it presents cutting-edge contributions from a number of leading economists in the field. It provides a comprehensive overview of the current academic and policy challenges surrounding R&D as well as of the state-of-the-art modelling techniques. The book brings to the forefront outstanding issues related to the assessment of the macroeconomic impact of R&D policies and its modelling. It speaks to the rising importance of R&D and innovation policy, and the proliferation of macroeconomic models featuring endogenous technological change. The contents of this book will be of interest to both academic and policy audiences working in the fields of R&D and innovation.
Book Synopsis Macroeconomic Theory and Stabilization Policy by : Willem H. Buiter
Download or read book Macroeconomic Theory and Stabilization Policy written by Willem H. Buiter and published by University of Michigan Press. This book was released on 1989 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brings together Buiter's major papers on macroeconomic theory and policy
Author :Abdykappar A. Ashimov Publisher :Springer Science & Business Media ISBN 13 :146141153X Total Pages :276 pages Book Rating :4.4/5 (614 download)
Book Synopsis Macroeconomic Analysis and Economic Policy Based on Parametric Control by : Abdykappar A. Ashimov
Download or read book Macroeconomic Analysis and Economic Policy Based on Parametric Control written by Abdykappar A. Ashimov and published by Springer Science & Business Media. This book was released on 2011-11-25 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: After the transition to free economy, governments of the former Soviet republics realized that in spite of becoming a part of the shaky international economic order, their individual economic success can be assured by rational national economic policies that in addition to the fundamental law of supply and demand govern the economic mechanism sensitive to both external and internal phenomena. Originally published in Russian and now translated in English, this book by Dr. A. Ashimov and his colleagues offers a novel theory providing a numerically-justifiable approach to the solution of major economy control problems that are faced by virtually every government in the world. First, they developed and validated numerous mathematical models describing complex interactions between economic and social factors thus enabling the decision makers to foresee the outcomes of their decisions. Second, on the basis of these models the authors formulated the appropriate control problems that could be interpreted as achieving the transition to the desirable economic regimes and maintaining these regimes in spite of initial conditions and both external and internal perturbations. It should be noted that due to the inherent uncertainty introduced by the use of statistical models, the nonlinearity of the underlying phenomena and the intention to obtain the optimal solutions, the solution process becomes quite intricate and calls for the application of the most sophisticated techniques offered in advanced control theory. The authors utilized the most instrumental statistical model validation techniques; they established sufficient conditions for the existence of optimal solutions of the relevant control problems; and they skillfully combined the applications of the phase space formalism, system stability analysis, and the methods of functional analysis. Finally, they developed algorithms resulting in the optimal problem solutions, thus offering economic policy makers a dependable decision support tool. Macroeconomic Analysis and Economic Policy Based on Parametric Control offers a novel, highly mathematical approach to the solution of very realistic economy control problems. It presents a good example of the application of mathematical modeling, advanced control theory, and model-based decision making that could be adopted by researchers and graduate students specializing in economics, control, and relevant areas of research, addressing their own research problems.
Book Synopsis Macroeconomic Modelling by : S.G. Hall
Download or read book Macroeconomic Modelling written by S.G. Hall and published by Elsevier. This book was released on 2014-06-28 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book arose out of research carried out by the authors in the period 1983-1987 whilst at the National Institute of Economic and Social Research. A number of things combined to impart the basic thrust of the research: partly the developments in formulating and estimating rational expectations models, and partly actual developments in the UK economy itself.An application of recent developments in dynamic modelling to a complete macroeconometric model of the UK is presented. Rational expectations modelling, co-integration and disequilibrium modelling are covered. The book also develops computational procedures for obtaining efficient solutions to large-scale models, and illustrates model solutions assuming rational expectations and stochastic simulations. Finally, sections on the analysis of models using optimal control methods illustrate applications of a large-scale econometric model. This section also discusses policy applications, including the derivation of time-consistent policies in the presence of rational expectations, giving quantified illustrations.
