Specification, Estimation, and Analysis of Macroeconomic Models
By (author) Ray C. Fair
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Specification, Estimation, and Analysis of Macroeconomic Models by Ray C. Fair
Book DescriptionThis book gives a practical, applications-oriented account of the latest techniques for estimating and analyzing large, nonlinear macroeconomic models. Ray Fair demonstrates the application of these techniques in a detailed presentation of several actual models, including his United States model, his multicountry model, Sargent's classical macroeconomic model, autoregressive and vector autoregressive models, and a small (twelve equation) linear structural model. He devotes a good deal of attention to the difficult and often neglected problem of moving from theoretical to econometric models. In addition, he provides an extensive discussion of optimal control techniques and methods for estimating and analyzing rational expectations models.A computer program that handles all the techniques in the book is available from the author, making it possible to use the techniques with little additional programming. The book presents the logic of this program. A smaller program for personal microcomputers for analysis of Fair's United States model is available from Urban Systems Research & Engineering, Inc. Anyone wanting to learn how to use large macroeconomic models, including researchers, graduate students, economic forecasters, and people in business and government both in the United States and abroad, will find this an essential guidebook.
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Book DetailsISBN: 9780674831803
(240mm x 160mm x 44mm)
Imprint: Harvard University Press
Publisher: Harvard University Press
Publish Date: 1-Jul-1984
Country of Publication: United States
Books By Author Ray C. Fair
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Author Biography - Ray C. Fair
Ray C. Fair is Professor of Economics, Yale University.
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