Name: An Econometric Model of the Us Economy: Structural Analysis in 56 Equations (en Inglés)
Price: 166.73 USD
Availability: InStock
Author: Heim, John J.
ISBN: 9783319844602

portada An Econometric Model of the Us Economy: Structural Analysis in 56 Equations (en Inglés)

Formato

Libro Físico

Autor

John J. Heim

Editorial

Palgrave MacMillan

Idioma

Inglés

N° páginas

460

Encuadernación

Tapa Blanda

Dimensiones

21.0 x 14.8 x 2.5 cm

Peso

0.58 kg.

ISBN13

9783319844602

Categorías

Macroeconomía
Economía urbana
Econometría

An Econometric Model of the Us Economy: Structural Analysis in 56 Equations (en Inglés)

John J. Heim (Autor) · Palgrave MacMillan · Tapa Blanda

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Origen: Estados Unidos (Costos de importación incluídos en el precio)

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Reseña del libro "An Econometric Model of the Us Economy: Structural Analysis in 56 Equations (en Inglés)"

This book explores the US economy from 1960 to 2010 using a more Keynsian, Cowles model approach, which the author argues has substantial advantages over the vector autoregression (VAR) and dynamic stochastic general equilibrium (DSGE) models used almost exclusively today. Heim presents a robust argument in favor of the Cowles model as an answer to the pressing, unresolved methodological question of how to accurately model the macroeconomy so that policymakers can reliably use these models to assist their decision making. Thirty-eight behavioral equations, describing determinants of variables such as consumption, taxes, and government spending, are connected by eighteen identities to construct a comprehensive model of the real US economy that Heim then tests across four different time periods to ensure that results are consistent. This comprehensive demonstration of the value of a long-ignored model provides overwhelming evidence that the more Keynesian (Cowles) structural models outperform VAR and DSGE, and therefore should be the models of choice in future macroeconomic studies.