Inside a Modern Macroeconometric Model : A Guide to the Murphy Model /
This book presents a detailed account of how a state-of-the-art macro model is built, and how it works. Throughout the emphasis is on providing the reader with a hands-on appreciation of the underlying economics, and its practical implementation. The model described, MM, is a leading example of the...
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| Format: | eBook |
| Language: | English |
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Berlin, Heidelberg :
Springer Berlin Heidelberg,
1995.
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| Series: | Lecture notes in economics and mathematical systems ;
428. |
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| Online Access: | Connect to the full text of this electronic book |
| Summary: | This book presents a detailed account of how a state-of-the-art macro model is built, and how it works. Throughout the emphasis is on providing the reader with a hands-on appreciation of the underlying economics, and its practical implementation. The model described, MM, is a leading example of the newer breed of macro models that: (a) have strong micro foundations; (b) incorporate rational expectations in financial markets; (c) converge over simulated time to an interpretable balanced growth path; and (d) draw on the strenghts of many different traditions in economics. This account will be particularly useful to practitioners of policy economics and forecasting, as well as to upper-level undergraduate and graduate students in economics and econometrics. |
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| Item Description: | Electronic resource. |
| Physical Description: | 1 online resource (xviii, 424 pages) |
| ISBN: | 9783662007716 (electronic bk.) 3662007711 (electronic bk.) |
| ISSN: | 0075-8442 ; |