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Macroeconomic Modelling

| £60.78 | €68.36 | Ca$98.61 | Au$97.32
by S. G. Hall & S. G. B. Henry
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Macroeconomic Modelling by S. G. Hall & S. G. B. Henry

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.

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Ebook Details
Pages: 426
Size: 24.8 MB
Publisher: North Holland
Date published:   2014
ISBN: 9781483295473 (DRM-PDF)

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