Estimating How the Macroeconomy Works

Ray C. Fair

Published by Harvard University Press 2004

Estimating How the Macroeconomy Works

Ray C. Fair

https://doi.org/10.4159/9780674036635

Overview
Contents

About this book

Using a multicountry econometric model, Fair examines several key issues, including the causes of inflation, how monetary authorities behave, how large is the wealth effect on aggregate consumption, whether European monetary policy has been too restrictive, and the stabilization costs to Europe of adopting the euro.

Reviews

The Fair model stands out as carefully articulated, carefully estimated, and a precious reference for those of us who like to know how the consumption function, or the investment function looks like in the data.
-- Olivier Blanchard, Department of Economics, Massachusetts Institute of Technology

Topics

Frontmatter Publicly Available Download PDF	i
Contents Publicly Available Download PDF	v
Tables Publicly Available Download PDF	ix
Figures Publicly Available Download PDF	xi
Preface Publicly Available Download PDF	xiii
Abbreviations Publicly Available Download PDF	xv
1 Introduction Requires Authentication Unlicensed Licensed Download PDF	1
2 The MC Model Requires Authentication Unlicensed Licensed Download PDF	16
3 Interest Rate Effects Requires Authentication Unlicensed Licensed Download PDF	61
4 Testing the NAIRU Model Requires Authentication Unlicensed Licensed Download PDF	67
5 U.S. Wealth Effects Requires Authentication Unlicensed Licensed Download PDF	80
6 Testing for a New Economy in the 1990s Requires Authentication Unlicensed Licensed Download PDF	85
7 A "Modern" View of Macroeconomics Requires Authentication Unlicensed Licensed Download PDF	101
8 Estimated European Inflation Costs Requires Authentication Unlicensed Licensed Download PDF	108
9 Stochastic Simulation and Bootstrapping Requires Authentication Unlicensed Licensed Download PDF	114
10 Certainty Equivalence Requires Authentication Unlicensed Licensed Download PDF	130
11 Evaluating Policy Rules Requires Authentication Unlicensed Licensed Download PDF	134
12 EMU Stabilization Costs Requires Authentication Unlicensed Licensed Download PDF	147
13 RE Models Requires Authentication Unlicensed Licensed Download PDF	154
14 Model Comparisons Requires Authentication Unlicensed Licensed Download PDF	163
15 Conclusion Requires Authentication Unlicensed Licensed Download PDF	173
Appendix A The US Model Requires Authentication Unlicensed Licensed Download PDF	179
Appendix B The ROW Model Requires Authentication Unlicensed Licensed Download PDF	239
References Requires Authentication Unlicensed Licensed Download PDF	285
Index Requires Authentication Unlicensed Licensed Download PDF	293

Language: English
Publisher: Harvard University Press
Audience: Professional and scholarly;
Pages
- Main content: 314

eBook

Published: July 1, 2009
ISBN: 9780674036635