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Statistical Analysis and Evaluation of Macroeconomic Policies: A Selective Review

Zeqin Liu, Zongwu Cai, Ying Fang and Ming Lin
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Zeqin Liu: The Wang Yanan Institute for Studies in Economics, Xiamen University, Xiamen, China
Zongwu Cai: Department of Economics, The University of Kansas
Ying Fang: The Wang Yanan Institute for Studies in Economics, Xiamen University, Xiamen, China
Ming Lin: The Wang Yanan Institute for Studies in Economics, Xiamen University, Xiamen, China

No 201904, WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS from University of Kansas, Department of Economics

Abstract: In this paper, we highlight some recent developments of a new route to evaluate macroeconomic policy effects, which are investigated under the framework with potential out- comes. First, this paper begins with a brief introduction of the basic model setup in modern econometric analysis of program evaluation. Secondly, primary attention goes to the focus on causal effect estimation of macroeconomic policy with single time series data together with some extensions to multiple time series data. Furthermore, we examine the connection of this new approach to traditional macroeconomic models for policy analysis and evaluation. Finally, we conclude by addressing some possible future research directions in statistics and econometrics.

Keywords: Impulse response function; Macroeconomic casual inferences; Macroeconomic pol- icy evaluation; Multiple time series data; Potential outcomes; Treatment effect. (search for similar items in EconPapers)
JEL-codes: C12 C13 C14 C23 (search for similar items in EconPapers)
Date: 2019-03, Revised 2019-03
New Economics Papers: this item is included in nep-ecm and nep-mac
References: View references in EconPapers View complete reference list from CitEc
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