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Structural macro-econometric modelling in a policy environment
Martin Fukac ()
Adrian Rodney Pagan
No RWP 10-08,
Research Working Paper from Federal Reserve Bank of Kansas City
In this paper we review the evolution of macroeconomic modelling in a policy environment that took place over the past sixty years. We identify and characterise four generations of macro models. Particular attention is paid to the fourth generation -- dynamic stochastic general equilibrium models. We discuss some of the problems in how these models are implemented and quantified.
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Downloads: (external link) http://www.kansascityfed.org/PUBLICAT/RESWKPAP/PDF/RWP10-08.pdf (application/pdf)
Related works: Working Paper: Structural macro-wconometric modelling in a policy environment (2009) Working Paper: Structural Macro-Econometric Modelling in a Policy Environment (2009) This item may be available elsewhere in EconPapers: Search for items with the same title.
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