Dynamic Econometrics for Empirical Macroeconomic Modelling

10.1142/11479 ◽  
2019 ◽  
Author(s):  
Ragnar Nymoen
Keyword(s):  
Macroeconomic Modelling

scholarly journals Macroeconomic Modelling at the Institute: Hopes, Challenges and a Lasting Contribution

2018 ◽  
Vol 246 ◽  
pp. R3-R14 ◽  
Author(s):  
Ray Barrell ◽  
Andy Blake ◽  
Garry Young
Keyword(s):  
Global Economy ◽  
Early Years ◽  
Macroeconomic Models ◽  
Macroeconomic Modelling ◽  
New Frontier ◽  
New Ideas ◽  
The Subject ◽  
The Uk ◽  
Economic Forecasts ◽  
Modelling And Forecasting

The Institute is a world leader in macroeconomic modelling and forecasting. It has produced quarterly economic forecasts for around sixty years, supported by macroeconomic models. The aim of the original builders of macroeconomic models was to transform understanding of how economies worked and use that knowledge to improve economic policy. In the early years, when computers were rare, macroeconomic modelling was a new frontier and Institute economists were among the first to produce a working model of the UK economy. It is remarkable how quickly models were being used to produce forecasts, assess policy and influence the international macroeconomic research agenda. The models built at the Institute were mainstream in the sense that they followed the contents of standard macroeconomic textbooks, developed with the subject, and fitted the facts as they were known at the time. There were continual improvements in understanding as the subject developed in response to new ideas and developments in the global economy. This article celebrates the development of macroeconomic modelling at the Institute and the contribution it has made to public life.

scholarly journals Macroeconomic modelling for policy analysis

2013 ◽  
Keyword(s):  
Policy Analysis ◽  
Total Factor Productivity ◽  
World Wide ◽  
Model Building ◽  
Demographic Changes ◽  
World Conference ◽  
Factor Productivity ◽  
Macro Model ◽  
Macroeconomic Modelling ◽  
Selection Of

Over the last 30 years, the Inforum approach to macro modelling has been shared by economists worldwide. Researchers have focussed much of their efforts to developing a linked system of international interindustry models with a consistent methodology. A world-wide network of research associates use the same methods and software obtaining comparable results. The XXth Inforum World Conference was held in Florence in September 2012 and this book contains a selection of papers presented during that Conference. All these contributions are aimed at policymakers, stakeholders, and applied economists. Some papers are devoted to specific topics (total factor productivity, energy issues, external linkages, demographic changes) and some others are oriented to macro model building and simulations.

scholarly journals AN INTERVIEW WITH THOMAS J. SARGENT

2005 ◽  
Vol 9 (4) ◽  
pp. 561-583 ◽  
Author(s):  
George W. Evans ◽  
Seppo Honkapohja
Keyword(s):  
Rational Expectations ◽  
Solution Concept ◽  
Expectations Hypothesis ◽  
Macroeconomic Modelling ◽  
Prevailing Paradigm ◽  
Standard Solution

The rational expectations hypothesis swept through macroeconomics during the 1970s and permanently altered the landscape. It remains the prevailing paradigm in macroeconomics, and rational expectations is routinely used as the standard solution concept in both theoretical and applied macroeconomic modelling. The rational expectations hypothesis was initially formulated by John F. Muth Jr. in the early 1960s. Together with Robert Lucas Jr., Thomas (Tom) Sargent pioneered the rational expectations revolution in macroeconomics in the 1970s.

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