Estimating how the macroeconomy works /:
Macroeconomics tries to describe and explain the economywide movement of prices, output, and unemployment. The field has been sharply divided among various schools, including Keynesian, monetarist, new classical, and others. It has also been split between theorists and empiricists. Ray Fair is a res...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass :
Harvard University Press,
2004.
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Macroeconomics tries to describe and explain the economywide movement of prices, output, and unemployment. The field has been sharply divided among various schools, including Keynesian, monetarist, new classical, and others. It has also been split between theorists and empiricists. Ray Fair is a resolute empiricist, developing and refining methods for testing theories and models. The field cannot advance without the discipline of testing how well the models approximate the data. Using a multicountry econometric model, he examines several important questions, including what causes inflation, how monetary authorities behave and what are their stabilization limits, how large is the wealth effect on aggregate consumption, whether European monetary policy has been too restrictive, and how large are the stabilization costs to Europe of adopting the euro. He finds, among other things, little evidence for the rational expectations hypothesis and for the so-called non-accelerating inflation rate of unemployment (NAIRU) hypothesis. He also shows that the U.S. economy in the last half of the 1990s was not a "new age" economy |
| Beschreibung: | 1 online resource (xv, 295 pages) : illustrations |
| Bibliographie: | Includes bibliographical references (pages 285-292) and index. |
| ISBN: | 9780674036635 0674036638 9780674015463 0674015460 |
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| 245 | 1 | 0 | |a Estimating how the macroeconomy works / |c Ray C. Fair. |
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| 505 | 0 | 0 | |t Frontmatter -- |t Contents -- |t Tables -- |t Figures -- |t Preface -- |t Abbreviations -- |t 1 Introduction -- |t 2 The MC Model -- |t 3 Interest Rate Effects -- |t 4 Testing the NAIRU Model -- |t 5 U.S. Wealth Effects -- |t 6 Testing for a New Economy in the 1990s -- |t 7 A "Modern" View of Macroeconomics -- |t 8 Estimated European Inflation Costs -- |t 9 Stochastic Simulation and Bootstrapping -- |t 10 Certainty Equivalence -- |t 11 Evaluating Policy Rules -- |t 12 EMU Stabilization Costs -- |t 13 RE Models -- |t 14 Model Comparisons -- |t 15 Conclusion -- |t Appendix A The US Model -- |t Appendix B The ROW Model -- |t References -- |t Index |
| 520 | |a Macroeconomics tries to describe and explain the economywide movement of prices, output, and unemployment. The field has been sharply divided among various schools, including Keynesian, monetarist, new classical, and others. It has also been split between theorists and empiricists. Ray Fair is a resolute empiricist, developing and refining methods for testing theories and models. The field cannot advance without the discipline of testing how well the models approximate the data. Using a multicountry econometric model, he examines several important questions, including what causes inflation, how monetary authorities behave and what are their stabilization limits, how large is the wealth effect on aggregate consumption, whether European monetary policy has been too restrictive, and how large are the stabilization costs to Europe of adopting the euro. He finds, among other things, little evidence for the rational expectations hypothesis and for the so-called non-accelerating inflation rate of unemployment (NAIRU) hypothesis. He also shows that the U.S. economy in the last half of the 1990s was not a "new age" economy | ||
| 650 | 0 | |a Macroeconomics. |0 http://id.loc.gov/authorities/subjects/sh85079443 | |
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Datensatz im Suchindex
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| author | Fair, Ray C. |
| author_GND | http://id.loc.gov/authorities/names/n50012042 |
| author_facet | Fair, Ray C. |
| author_role | |
| author_sort | Fair, Ray C. |
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| contents | Frontmatter -- Contents -- Tables -- Figures -- Preface -- Abbreviations -- 1 Introduction -- 2 The MC Model -- 3 Interest Rate Effects -- 4 Testing the NAIRU Model -- 5 U.S. Wealth Effects -- 6 Testing for a New Economy in the 1990s -- 7 A "Modern" View of Macroeconomics -- 8 Estimated European Inflation Costs -- 9 Stochastic Simulation and Bootstrapping -- 10 Certainty Equivalence -- 11 Evaluating Policy Rules -- 12 EMU Stabilization Costs -- 13 RE Models -- 14 Model Comparisons -- 15 Conclusion -- Appendix A The US Model -- Appendix B The ROW Model -- References -- Index |
| ctrlnum | (OCoLC)456265663 |
| dewey-full | 339 |
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| dewey-ones | 339 - Macroeconomics and related topics |
| dewey-raw | 339 |
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| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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| id | ZDB-4-EBA-ocn456265663 |
| illustrated | Illustrated |
| indexdate | 2024-11-27T13:16:52Z |
| institution | BVB |
| isbn | 9780674036635 0674036638 9780674015463 0674015460 |
| language | English |
| oclc_num | 456265663 |
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| physical | 1 online resource (xv, 295 pages) : illustrations |
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| publishDate | 2004 |
| publishDateSearch | 2004 |
| publishDateSort | 2004 |
| publisher | Harvard University Press, |
| record_format | marc |
| spelling | Fair, Ray C. http://id.loc.gov/authorities/names/n50012042 Estimating how the macroeconomy works / Ray C. Fair. Cambridge, Mass : Harvard University Press, 2004. 1 online resource (xv, 295 pages) : illustrations text txt rdacontent computer c rdamedia online resource cr rdacarrier Includes bibliographical references (pages 285-292) and index. Print version record. Frontmatter -- Contents -- Tables -- Figures -- Preface -- Abbreviations -- 1 Introduction -- 2 The MC Model -- 3 Interest Rate Effects -- 4 Testing the NAIRU Model -- 5 U.S. Wealth Effects -- 6 Testing for a New Economy in the 1990s -- 7 A "Modern" View of Macroeconomics -- 8 Estimated European Inflation Costs -- 9 Stochastic Simulation and Bootstrapping -- 10 Certainty Equivalence -- 11 Evaluating Policy Rules -- 12 EMU Stabilization Costs -- 13 RE Models -- 14 Model Comparisons -- 15 Conclusion -- Appendix A The US Model -- Appendix B The ROW Model -- References -- Index Macroeconomics tries to describe and explain the economywide movement of prices, output, and unemployment. The field has been sharply divided among various schools, including Keynesian, monetarist, new classical, and others. It has also been split between theorists and empiricists. Ray Fair is a resolute empiricist, developing and refining methods for testing theories and models. The field cannot advance without the discipline of testing how well the models approximate the data. Using a multicountry econometric model, he examines several important questions, including what causes inflation, how monetary authorities behave and what are their stabilization limits, how large is the wealth effect on aggregate consumption, whether European monetary policy has been too restrictive, and how large are the stabilization costs to Europe of adopting the euro. He finds, among other things, little evidence for the rational expectations hypothesis and for the so-called non-accelerating inflation rate of unemployment (NAIRU) hypothesis. He also shows that the U.S. economy in the last half of the 1990s was not a "new age" economy Macroeconomics. http://id.loc.gov/authorities/subjects/sh85079443 Macroéconomie. POLITICAL SCIENCE Economic Conditions. bisacsh BUSINESS & ECONOMICS Economics Macroeconomics. bisacsh BUSINESS & ECONOMICS Economics Theory. bisacsh Macroeconomics fast Macro-economie. gtt Econometrische modellen. gtt Modèle économétrique. rasuqam Macroéconomie. rasuqam has work: Estimating how the macroeconomy works (Text) https://id.oclc.org/worldcat/entity/E39PCGhY6rVD3tw8hkggCWyMHd https://id.oclc.org/worldcat/ontology/hasWork Print version: Fair, Ray C. Estimating how the macroeconomy works. Cambridge, Mass : Harvard University Press, 2004 0674015460 9780674015463 (DLC) 2004047522 (OCoLC)54966339 FWS01 ZDB-4-EBA FWS_PDA_EBA https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=282166 Volltext |
| spellingShingle | Fair, Ray C. Estimating how the macroeconomy works / Frontmatter -- Contents -- Tables -- Figures -- Preface -- Abbreviations -- 1 Introduction -- 2 The MC Model -- 3 Interest Rate Effects -- 4 Testing the NAIRU Model -- 5 U.S. Wealth Effects -- 6 Testing for a New Economy in the 1990s -- 7 A "Modern" View of Macroeconomics -- 8 Estimated European Inflation Costs -- 9 Stochastic Simulation and Bootstrapping -- 10 Certainty Equivalence -- 11 Evaluating Policy Rules -- 12 EMU Stabilization Costs -- 13 RE Models -- 14 Model Comparisons -- 15 Conclusion -- Appendix A The US Model -- Appendix B The ROW Model -- References -- Index Macroeconomics. http://id.loc.gov/authorities/subjects/sh85079443 Macroéconomie. POLITICAL SCIENCE Economic Conditions. bisacsh BUSINESS & ECONOMICS Economics Macroeconomics. bisacsh BUSINESS & ECONOMICS Economics Theory. bisacsh Macroeconomics fast Macro-economie. gtt Econometrische modellen. gtt Modèle économétrique. rasuqam Macroéconomie. rasuqam |
| subject_GND | http://id.loc.gov/authorities/subjects/sh85079443 |
| title | Estimating how the macroeconomy works / |
| title_alt | Frontmatter -- Contents -- Tables -- Figures -- Preface -- Abbreviations -- 1 Introduction -- 2 The MC Model -- 3 Interest Rate Effects -- 4 Testing the NAIRU Model -- 5 U.S. Wealth Effects -- 6 Testing for a New Economy in the 1990s -- 7 A "Modern" View of Macroeconomics -- 8 Estimated European Inflation Costs -- 9 Stochastic Simulation and Bootstrapping -- 10 Certainty Equivalence -- 11 Evaluating Policy Rules -- 12 EMU Stabilization Costs -- 13 RE Models -- 14 Model Comparisons -- 15 Conclusion -- Appendix A The US Model -- Appendix B The ROW Model -- References -- Index |
| title_auth | Estimating how the macroeconomy works / |
| title_exact_search | Estimating how the macroeconomy works / |
| title_full | Estimating how the macroeconomy works / Ray C. Fair. |
| title_fullStr | Estimating how the macroeconomy works / Ray C. Fair. |
| title_full_unstemmed | Estimating how the macroeconomy works / Ray C. Fair. |
| title_short | Estimating how the macroeconomy works / |
| title_sort | estimating how the macroeconomy works |
| topic | Macroeconomics. http://id.loc.gov/authorities/subjects/sh85079443 Macroéconomie. POLITICAL SCIENCE Economic Conditions. bisacsh BUSINESS & ECONOMICS Economics Macroeconomics. bisacsh BUSINESS & ECONOMICS Economics Theory. bisacsh Macroeconomics fast Macro-economie. gtt Econometrische modellen. gtt Modèle économétrique. rasuqam Macroéconomie. rasuqam |
| topic_facet | Macroeconomics. Macroéconomie. POLITICAL SCIENCE Economic Conditions. BUSINESS & ECONOMICS Economics Macroeconomics. BUSINESS & ECONOMICS Economics Theory. Macroeconomics Macro-economie. Econometrische modellen. Modèle économétrique. |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=282166 |
| work_keys_str_mv | AT fairrayc estimatinghowthemacroeconomyworks |