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Synopsis
Until the 1970s, there was a consensus in applied macroeconometrics, both regarding the theoretical foundation and the empirical specification of macroeconometric modelling, commonly known as the Cowles Commission approach. This is no longer the case: the Cowles Commission approach broke down in the 1970s, replaced by three prominent competing methods of empirical research: the LSE (London School of Economics) approach, the VAR approach, and the intertemporal optimization/Real Business Cycle approach. This book discusses and illustrates the empirical research strategy of these three alternative approaches by interpreting them as different proposals to solve problems observed in the Cowles Commission approach.
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About the Author
Carlo A. Favero is Professor of Economics at Bocconi University in Milan, Resident Fellow of the Innocenzo Gasparini Institute for Economic Research, and Research Fellow of the Centre for Economic Policy Research.
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Applied Macroeconometrics
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Oxford University Press, 2001
ISBN 10: 0198296851
ISBN 13: 9780198296850
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Applied Macroeconometrics
Published by
Oxford University Press, 2001
ISBN 10: 0198296851
ISBN 13: 9780198296850
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Paperback. Condition: Very Good. The book has been read, but is in excellent condition. Pages are intact and not marred by notes or highlighting. The spine remains undamaged. Seller Inventory # GOR001864755
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Applied Macroeconometrics
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Oxford University Press, Usa, 2001
ISBN 10: 0198296851
ISBN 13: 9780198296850
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Applied Macroeconometrics
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Applied Macroeconometrics
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Applied Macroeconometrics
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Applied Macroeconometrics
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Applied Macroeconometrics (Paperback)
Published by
Oxford University Press, Oxford, 2001
ISBN 10: 0198296851
ISBN 13: 9780198296850
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Paperback. Condition: new. Paperback. This text provides graduate students of macroeconomics, econometrics, and monetary economics with discussion and practical illustrations of the techniques used in applied macroeconometrics. Until the 1970s, there was consensus regarding both the theoretical foundations and the empirical specification of applied macroeconometric modelling, commonly known as the Cowles Commission approach. This is no longer the case: the Cowles Commission approach broke down in the1970s, to be replaced by a number of prominent competing methods--the LSE (London School of Economics) approach, the VAR approach, and the intertemporal optimization/Real Business Cycle approach.'Applied Macroeconometrics' examines the empirical research strategy of these alternatives by interpreting them as attempts to solve the problems observed in the Cowles Commission approach. The different research strategies are illustrated with specific reference to real-world examples, particularly with respect to the monetary transmission mechanism. A common US dataset is used in these examples, thus allowing the reader easy comparisons. The presentation is based onthe view that identification, a central concept in econometrics, provides a natural framework in which to discuss the alternative strategies currently dominating research. The first part of the bookintroduces time-series models and details the importance of their identification. The second part illustrates, chapter by chapter, the alternative approaches, providing detailed applications of each methodology. Data used in the applications are available in a variety of formats from the author's web site, and will be supplemented by exercises for the reader to perform. The objective of this book is the discussion and the practical illustration of techniques used in applied macroeconometrics. There are currently three competing approaches: the LSE (London School of Economics) approach, the VAR approach, and the intertemporal optimization/Real Business Cycle approach. Shipping may be from our UK warehouse or from our Australian or US warehouses, depending on stock availability. Seller Inventory # 9780198296850
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Applied Macroeconometrics
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PAP. Condition: New. New Book. Shipped from UK. THIS BOOK IS PRINTED ON DEMAND. Established seller since 2000. Seller Inventory # L0-9780198296850
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Applied Macroeconometrics
Published by
Oxford University Press, 2001
ISBN 10: 0198296851
ISBN 13: 9780198296850
Used
Softcover
Seller: GreatBookPricesUK, Woodford Green, United Kingdom
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Condition: As New. Unread book in perfect condition. Seller Inventory # 79313
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