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Inside a Modern Macroeconometric Model

Name: Inside a Modern Macroeconometric Model
Brand: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
SKU: 9783642638367
Price: 826.09 RON
Availability: InStock

A Guide to the Murphy Model

Autor: Alan A. Powell, Christopher W. Murphy

Limbă:

Legare: Carte broșată

Editura: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG

Disponibilitate: În depozitul extern

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826.09 lei

As Ken Wallis (1993) has pOinted out, all macroeconomic forecasters and policy analysts use economic...

Informații despre carte

Autor

Alan A. Powell, Christopher W. Murphy

Limbă

engleză

Legare

Carte - Carte broșată

Publicat

2012

Pagini

455

EAN

9783642638367

ISBN

3642638368

Enbook ID

07048698

Editura

Springer-Verlag Berlin and Heidelberg GmbH & Co. KG

Greutate

724

Dimensiuni

155 x 235 x 26

Descriere completă

As Ken Wallis (1993) has pOinted out, all macroeconomic forecasters and policy analysts use economic models. That is, they have a way of going from assumptions about macroeconomic policy and the international environment, to a prediction of the likely future state of the economy. Some people do this in their heads. Increasingly though, forecasting and policy analysis is based on a formal, explicit model, represented by a set of mathematical equations and solved by computer. This provides a framework for handling, in a consistent and systematic manner, the ever-increasing amounts of relevant information. Macroeconometric modelling though, is an inexact science. A manageable model must focus only on the major driving forces in a complex economy made up of millions of households and fIrms. International economic agencies such as the IMF and OECD, and most treasuries and central banks in western countries, use macroeconometric models in their forecasting and policy analysis. Models are also used for teaching and research in universities, as well as for commercial forecasting in the private sector.