Skip to main content
SpringerLink
Log in

Introduction

  • Chapter
Macroeconometric Models

Part of the book series: Advanced Studies in Theoretical and Applied Econometrics ((ASTA,volume 47))

  • 2683 Accesses

Abstract

An outline of the second part of the monograph is presented. It includes the specification of particular equations based on major contemporary macroeconometric models and the results of empirical research, mainly in the form of elasticities based on results obtained in multicountry—world models. Different types of macromodels are distinguished starting from mainstream Keynesian models, going to models based on micro foundations, that distinguish households and enterprises sectors maximizing their preferences under imperfect competition. The CGE models are described and their generalization ion in the form of DSGE models described.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 129.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 169.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 169.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Notes

  1. 1.

    Cf. Hendry (1995), Juselius (2006), Majsterek (2008), Welfe (2009); the models’ applications were described e.g. in Klein et al. (1999) and Fair (2004).

References

  • Fair, R. C. (2004). Estimating how the macroeconomy works. Cambridge: Harvard University Press.

    Google Scholar 

  • Hendry, D. H. (1995). Dynamic econometrics. Oxford: Oxford University Press.

    Book  Google Scholar 

  • Juselius, K. (2006). The cointegrated VAR model. Oxford: Oxford University Press.

    Google Scholar 

  • Klein, L. R., Welfe, A., & Welfe, W. (1999). Principles of macroeconometric modeling. Amsterdam: North-Holland.

    Google Scholar 

  • Kydland, F. E., & Prescott, E. C. (1982). Time to build and aggregate fluctuations. Econometrica, 50, 1345–1370.

    Article  Google Scholar 

  • Majsterek, M. (2008). Wielowymiarowa analiza kointegracyjna w ekonomii (Multidimensional cointegration analysis in economics). Łódź: Wydawnictwo UŁ.

    Google Scholar 

  • Welfe, A. (2009). Ekonometria. Metody i ich zastosowanie (Econometrics. Methods and their use) (4th ed.). Warszawa: PWE.

    Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Institute of Econometrics, University of Łódź, Rewolucji 1905 r. 41, Łódź, 90-214, Poland

    Władysław Welfe

Authors
  1. Władysław Welfe
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Władysław Welfe .

Rights and permissions

Reprints and permissions

Copyright information

© 2013 Springer-Verlag Berlin Heidelberg

About this chapter

Cite this chapter

Welfe, W. (2013). Introduction. In: Macroeconometric Models. Advanced Studies in Theoretical and Applied Econometrics, vol 47. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-34468-8_14

Download citation

Publish with us

Policies and ethics

Search

Navigation