An Introduction to Applied Macroeconomics (Classic Reprint)
Language: English
Published by Forgotten Books, 2018
- Softcover
- New
Seller: Forgotten Books, London, United KingdomForgotten Books
AbeBooks seller since June 2, 2021
Condition: New
£ 21.92
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Print on Demand. This book presents and describes the construction of a medium-sized quarterly econometric model of the U.S. economy. It is not intended to forecast or estimate the quantitative impact of alternative government policies but aims to convey quantitative ideas about the structure and dynamics of the U.S. economy. The book can be viewed as a status report on the condition of macroeconometric theory and its econometric implementation, an accurate representation of the economy can only be achieved by combining theory with available data. This book offers a self-contained system, treating only logically endogenous variables, which makes it unique as it does not require supplementing with other works to make sense. It illustrates the state of the modeling art and the structure of the economy with minimum necessary complexity, addressing issues of imperfect and ill-suited data and the need for compromises in equation specification. By presenting a model that is not a set of linear equations, the author raises problems of interpretation. It demonstrates that economic behavior is seldom linear and that multipliers are not constant but rather depend on the values of all variables. The author concludes that a non-linear model, while computationally more intensive, provides a more accurate representation of the economy. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book.…
Seller Inventory # 9781332266166_0
- Title
- An Introduction to Applied Macroeconomics (Classic Reprint)
- Author
- Edwin Kuh, Richard L. Schmalensee
- Publisher
- Forgotten Books
- Publication year
- 2018
- Condition
- New
- Book Type
- print-on-demand item
- Binding
- Paperback
- Language
- English
- ISBN 10
- 1332266169
- ISBN 13
- 9781332266166
- Seller catalogs
- Economics
We feel that any intermediate or advanced course in macroeconomics is seriously incomplete today unless it provides students with some understanding of econometric models of national economies macroeconometric models for short. Yet our own efforts to introduce students to econometric models of the u.s. Economy have invariably been disappointing. As an outlet for these frustrations, we have written this book which is designed as a supple ment to intermediate or advanced courses in macroeconomics or applied econometrics and, to a lesser extent, as a te ference for researchers in the field.
Most available macroeconometric models, especially those in the journal literature, are designed to forecast Gross National Product and its components. Their primary purpose is not to illustrate the structure of the economy, but rather to follow its movement over time as closely as possible. Consequently, numerous compromises are made. Quantities which are logically endogenous variables are taken as exogenous, and many equations have only the most tenuous theoretical justification. Explanations of these models tend to be brief and oriented toward the practicing professional economist. Sources of data are rarely listed.
About the Publisher
Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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Forgotten Books
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Forgotten Books’ Classic Reprint Series utilizes the latest technology to regenerate facsimiles of historically important writings. Careful attention has been made to accurately preserve the original format of each page whilst digitally enhancing the quality of the aged text.
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Forgotten Books publishes hundreds of thousands of rare and classic books.
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
This text has been digitally restored from a historical edition. Some errors may persist, however we consider it worth publishing due to the work's historical value.
The digital edition of all books may be viewed before purchase if you request a sample.
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