| 期刊全稱 | An Econometric Model of the US Economy | | 期刊簡稱 | Structural Analysis | | 影響因子2023 | John J. Heim | | 視頻video | http://file.papertrans.cn/155/154912/154912.mp4 | | 發(fā)行地址 | Connects behavioral equations into a comprehensive model of the real US economy.Includes comprehensive comparisons of results from older Cowles model and newer VAR and DSGE models.Features 75 variable | | 圖書封面 |  | | 影響因子 | 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. ? ??. | | Pindex | Book 2017 |
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