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Author: L. Broze Publisher: Routledge ISBN: 1136457801 Category : Business & Economics Languages : en Pages : 144
Book Description
A comprehensive exposition of rational expectations models is provided here, working up from simple univariate models to more sophisticated multivariate and non-linear models.
Author: L. Broze Publisher: Routledge ISBN: 1136457801 Category : Business & Economics Languages : en Pages : 144
Book Description
A comprehensive exposition of rational expectations models is provided here, working up from simple univariate models to more sophisticated multivariate and non-linear models.
Author: L. Broze Publisher: Elsevier ISBN: 1483296288 Category : Business & Economics Languages : en Pages : 249
Book Description
This book is devoted to the econometric analysis of linear multivariate rational expectation models. It shows that the interpretation of multiplicity in terms of "new degrees of freedom" is consistent with a rigorous econometric reasoning. Non-uniqueness is the central theme of this book. Each chapter is concerned with a specific econometric aspect of rational expectations equilibria. The most constructive result lies in the possibility of an empirical determination of the equilibrium followed by the economy.
Author: University of Western Ontario. Department of Economics Publisher: London : Department of Economics, University of Western Ontario ISBN: 9780771408212 Category : Languages : en Pages : 16
Author: P. Fisher Publisher: Springer Science & Business Media ISBN: 9401580022 Category : Business & Economics Languages : en Pages : 215
Book Description
It is commonly believed that macroeconomic models are not useful for policy analysis because they do not take proper account of agents' expectations. Over the last decade, mainstream macroeconomic models in the UK and elsewhere have taken on board the `Rational Expectations Revolution' by explicitly incorporating expectations of the future. In principle, one can perform the same technical exercises on a forward expectations model as on a conventional model -- and more! Rational Expectations in Macroeconomic Models deals with the numerical methods necessary to carry out policy analysis and forecasting with these models. These methods are often passed on by word of mouth or confined to obscure journals. Rational Expectations in Macroeconomic Models brings them together with applications which are interesting in their own right. There is no comparable textbook in the literature. The specific subjects include: (i) solving for model consistent expectations; (ii) the choice of terminal condition and time horizon; (iii) experimental design: i.e., the effect of temporary vs permanent, anticipated vs. unanticipated shocks; deterministic vs. stochastic, dynamic vs. static simulation; (iv) the role of exchange rate; (v) optimal control and inflation-output tradeoffs. The models used are those of the Liverpool Research Group in Macroeconomics, the London Business School and the National Institute of Economic and Social Research.
Author: David Colander Publisher: Cambridge University Press ISBN: 1139459058 Category : Business & Economics Languages : en Pages : 33
Book Description
Macroeconomics is evolving in an almost dialectic fashion. The latest evolution is the development of a new synthesis that combines insights of new classical, new Keynesian and real business cycle traditions into a dynamic, stochastic general equilibrium (DSGE) model that serves as a foundation for thinking about macro policy. That new synthesis has opened up the door to a new antithesis, which is being driven by advances in computing power and analytic techniques. This new synthesis is coalescing around developments in complexity theory, automated general to specific econometric modeling, agent-based models, and non-linear and statistical dynamical models. This book thus provides the reader with an introduction to what might be called a Post Walrasian research program that is developing as the antithesis of the Walrasian DSGE synthesis.
Author: L. Broze
Author: L. Broze
Author: Laurence Broze
Author: Jae Won Lee
Author: L. Broze
Author: Charles H. Whiteman
Author: University of Western Ontario. Department of Economics
Author: N. M. Christodoulakis
Author: P. Fisher
Author: David K. H. Begg
Author: David Colander