The Resource An econometric model of the US economy : structural analysis in 56 equations, John J. Heim
An econometric model of the US economy : structural analysis in 56 equations, John J. Heim
Resource Information
The item An econometric model of the US economy : structural analysis in 56 equations, John J. Heim represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in Massey University Library, University of New Zealand.This item is available to borrow from 1 library branch.
Resource Information
The item An econometric model of the US economy : structural analysis in 56 equations, John J. Heim represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in Massey University Library, University of New Zealand.
This item is available to borrow from 1 library branch.
 Summary
 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. Thirtyeight 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 longignored 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.
 Language
 eng
 Extent
 1 online resource
 Contents

 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 ISLM Model to the More Modern ASAD 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)
 Isbn
 9783319506814
 Label
 An econometric model of the US economy : structural analysis in 56 equations
 Title
 An econometric model of the US economy
 Title remainder
 structural analysis in 56 equations
 Statement of responsibility
 John J. Heim
 Language
 eng
 Summary
 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. Thirtyeight 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 longignored 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.
 Assigning source
 Provided by publisher
 http://library.link/vocab/creatorName
 Heim, John J.,
 Dewey number
 330.973
 Index
 index present
 Literary form
 non fiction
 Nature of contents

 dictionaries
 bibliography
 http://library.link/vocab/subjectName
 United States
 Label
 An econometric model of the US economy : structural analysis in 56 equations, John J. Heim
 Antecedent source
 unknown
 Bibliography note
 Includes bibliographical references and index
 Color
 multicolored
 Contents
 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 ISLM Model to the More Modern ASAD 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)
 Control code
 on1015215114
 Dimensions
 unknown
 Extent
 1 online resource
 File format
 unknown
 Form of item
 online
 Isbn
 9783319506814
 Level of compression
 unknown
 Quality assurance targets
 not applicable
 Reformatting quality
 unknown
 Sound
 unknown sound
 Specific material designation
 remote
 System control number
 (OCoLC)1015215114
 Label
 An econometric model of the US economy : structural analysis in 56 equations, John J. Heim
 Antecedent source
 unknown
 Bibliography note
 Includes bibliographical references and index
 Color
 multicolored
 Contents
 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 ISLM Model to the More Modern ASAD 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)
 Control code
 on1015215114
 Dimensions
 unknown
 Extent
 1 online resource
 File format
 unknown
 Form of item
 online
 Isbn
 9783319506814
 Level of compression
 unknown
 Quality assurance targets
 not applicable
 Reformatting quality
 unknown
 Sound
 unknown sound
 Specific material designation
 remote
 System control number
 (OCoLC)1015215114
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