Cantitate/Preț
Produs
Total produse
Vezi coșul
An Econometric Model of the US Economy: Structural Analysis in 56 Equations de John J. Heim

An Econometric Model of the US Economy: Structural Analysis in 56 Equations

Autor John J. Heim
en Limba Engleză Paperback – 30 aug 2018
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.  
  

Citește tot Restrânge

Toate formatele și edițiile

Toate formatele și edițiile Preț Express
Paperback (1) 77091 lei  6-8 săpt.
  Springer International Publishing – 30 aug 2018 77091 lei  6-8 săpt.
Hardback (1) 77616 lei  6-8 săpt.
  Springer International Publishing – 21 dec 2017 77616 lei  6-8 săpt.

Preț: 77091 lei

Preț vechi: 94014 lei
-18% Nou

Puncte Express: 1156
Preț estimativ în valută:
14754€ • 15325$ • 12255£

Carte tipărită la comandă

Livrare economică 03-17 februarie 25

 Adaugă în coș

Wish list
Gift list
Am citit!
Adaugă în listă
Preluare comenzi: 021 569.72.76

Specificații

ISBN-13: 9783319844602
ISBN-10: 3319844601
Pagini: 460
Ilustrații: XXX, 460 p. 14 illus.
Dimensiuni: 148 x 210 mm
Greutate: 0.58 kg
Ediția:Softcover reprint of the original 1st ed. 2017
Editura: Springer International Publishing
Colecția Palgrave Macmillan
Locul publicării:Cham, Switzerland

Cuprins

1. Introduction to Part 1 (Production of the GDP).- 2. Methodology.- 3. Literature Review.- 4. The Consumption Models.- 5. Models Indicating Determinants of Investment Spending and Borrowing.- 6. The Exports Demand Equation.- 7. Statistically Estimated Real GDP Determination Functions ("IS" Curves).- 8. Real GDP Determination Functions (“IS” Curves) Aggregated from Estimates Obtained by Statistically Estimating the Subcomponent Functions Comprising the GDP .- 9. Determinants of the Prime Interest Rate: Taylor Rule Method.- 10. Determinants of the Prime Interest Rate: LM Curve Method.- 11. Determinants of Inflation: The Phillips Curve Model.- 12. Determinants of Unemployment.- 13. The Savings Functions.- 14. Determinants of Government Receipts.- 15. Edogeneity of Government Spending.- 16. Capacity of the Model to Explain Behavior of the Macroeconomy in the Years beyond the Period Used to Estimate the Model.- 17. Converting the Older Keynsian IS-LM Model to the More Modern AS-AD Interpretation of the Kenysian Model.- 18. Dynamics.- 19. Summary and Conclusions (Production Side of the NIPA Accounts).- 20. Part II: Determinants of Factor Shares (Income Side of the NIPA Accounts).

Notă biografică

John J. Heim is Visiting Professor at University of Albany-SUNY, and retired Clinical Professor of Economics at Rensselaer Polytechnic Institute, both in New York, USA.

Textul de pe ultima copertă

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.  


Caracteristici

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 variables Features findings confirmed by retesting in different time periods and models