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Testing Macroeconometric Models (Hardback)
  • Testing Macroeconometric Models (Hardback)
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Testing Macroeconometric Models (Hardback)

(author)
£63.95
Hardback Published: 02/11/1994
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In this book Ray Fair expounds techniques for estimating and analyzing macroeconometric models. He takes advantage of the remarkable decrease in computational costs that has occurred since the early 1980s by implementing such sophisticated techniques as stochastic simulation. "Testing Macroeconometric Models" also incorporates the assumption of rational expectations in the estimation, solution, and testing of the models. And it presents the latest versions of Fair's models of the economies of the United States and other countries. After estimating and testing the US model, Fair analyzes its properties - including those which are relevant to economic policymakers: the optimal monetary policy instrument, the effect of a government spending reduction on the government deficit, whether monetary policy is becoming less effective over time, and the sensitivity of policy effects to the assumption of rational expectations. Ray Fair has conducted research on structural macroeconomic models for more than 20 years. With interest increasing in the area, this book should be a useful reference for macroeconomists.

Publisher: Harvard University Press
ISBN: 9780674875036
Weight: 799 g
Dimensions: 235 x 162 x 30 mm

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