Overview
- Authors:
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Alan A. Powell
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Impact Research Centre, Monash University, Clayton, Australia
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Christopher W. Murphy
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ECONTECH, Kingston Act., Australia
- Principles referred to in the text are illustrated by numerical examples
- PC users can verify how various key ideas work in practice
- Archetype, miniature and stylised models are used to explain principles at work in the larger MM model
- Includes 85 tables, 72 figures and 42 exercises
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Table of contents (28 chapters)
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Front Matter
Pages i-xviii
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Setting the Scene
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- Alan A. Powell, Christopher W. Murphy
Pages 1-4
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- Alan A. Powell, Christopher W. Murphy
Pages 5-13
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- Alan A. Powell, Christopher W. Murphy
Pages 15-78
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Structural Form of MM
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- Alan A. Powell, Christopher W. Murphy
Pages 79-92
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- Alan A. Powell, Christopher W. Murphy
Pages 93-107
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- Alan A. Powell, Christopher W. Murphy
Pages 109-116
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- Alan A. Powell, Christopher W. Murphy
Pages 117-122
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- Alan A. Powell, Christopher W. Murphy
Pages 123-133
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- Alan A. Powell, Christopher W. Murphy
Pages 135-148
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- Alan A. Powell, Christopher W. Murphy
Pages 149-174
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- Alan A. Powell, Christopher W. Murphy
Pages 175-184
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- Alan A. Powell, Christopher W. Murphy
Pages 185-188
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- Alan A. Powell, Christopher W. Murphy
Pages 189-196
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- Alan A. Powell, Christopher W. Murphy
Pages 197-198
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- Alan A. Powell, Christopher W. Murphy
Pages 199-202
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- Alan A. Powell, Christopher W. Murphy
Pages 203-205
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- Alan A. Powell, Christopher W. Murphy
Pages 207-212
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- Alan A. Powell, Christopher W. Murphy
Pages 213-214
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- Alan A. Powell, Christopher W. Murphy
Pages 215-218
About this book
As Ken Wallis (1993) has pOinted out, all macroeconomic forecasters and policy analysts use economic models. That is, they have a way of going from assumptions about macroeconomic policy and the international environment, to a prediction of the likely future state of the economy. Some people do this in their heads. Increasingly though, forecasting and policy analysis is based on a formal, explicit model, represented by a set of mathematical equations and solved by computer. This provides a framework for handling, in a consistent and systematic manner, the ever-increasing amounts of relevant information. Macroeconometric modelling though, is an inexact science. A manageable model must focus only on the major driving forces in a complex economy made up of millions of households and fIrms. International economic agencies such as the IMF and OECD, and most treasuries and central banks in western countries, use macroeconometric models in their forecasting and policy analysis. Models are also used for teaching and research in universities, as well as for commercial forecasting in the private sector.
Authors and Affiliations
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Impact Research Centre, Monash University, Clayton, Australia
Alan A. Powell
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ECONTECH, Kingston Act., Australia
Christopher W. Murphy