A Historical Sketch of Macroeconometrics
MPRA Paper from University Library of Munich, Germany
The paper describes the evolutionary history of Macroeconometrics over the last one hundred years. Three main approaches are distinguished, their underlying principles are discussed and the weakness of each principle is considered. The paper also shows the current developments in the field and indicates the directions of the research currently undertaken.
Keywords: Macroeconometrics; history; Cowles Commission; VAR; VECM; DSGE (search for similar items in EconPapers)
JEL-codes: B41 C50 C6 C60 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ecm, nep-his, nep-hpe and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:56869
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