Chapter

Macroeconometric modelling: Alternative approaches

Anthony Garratt, Kevin Lee, M. Hashem Pesaran and Yongcheol Shin

in Global and National Macroeconometric Modelling

Published in print August 2006 | ISBN: 9780199296859
Published online September 2006 | e-ISBN: 9780191603853 | DOI: http://dx.doi.org/10.1093/0199296855.003.0002
 Macroeconometric modelling: Alternative approaches

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This chapter describes some alternative approaches to macroeconometric modelling, focusing on the long-run characteristics of macroeconomic models and the consensus that has developed surrounding desirable long-run properties. It also considers the effectiveness of the different approaches in their attempts to test and incorporate the long-run properties into models in practice.

Keywords: macroeconomic model; long-run properties; structural cointegrating VAR

Chapter.  7600 words. 

Subjects: Econometrics and Mathematical Economics

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