Structural macro-wconometric modelling in a policy environment

In this paper we review the evolution of macroeconomic modelling in a policy environment that took placeover 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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Year of publication:	2009-12
Authors:	Fukac, Martin ; Pagan, Adrian
Institutions:	Reserve Bank of New Zealand

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Series:	Reserve Bank of New Zealand Discussion Paper Series.
Type of publication:	Book / Working Paper
Notes:	Number DP2009/16 37 pages longp
Classification:	B16 - History of Economic Thought: Quantitative and Mathematical ; C50 - Econometric Modeling. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008458038