Rational Expectations in Macroeconomic Models - Advanced Studies in Theoretical and Applied Econometrics 26 (Paperback)P. Fisher (author)
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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.
Number of pages: 211
Weight: 355 g
Dimensions: 235 x 155 x 12 mm
Edition: Softcover reprint of hardcover 1st ed. 1992
Journal of Economics
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