Advertisement

Analyzing the Simulation Properties of a Macroeconometric Model by Estimating Its Implicit AD-AS Structure

  • Bert G. Hickman
Part of the Studies in Contemporary Economics book series (CONTEMPORARY)

Abstract

Large macroeconometric models are frequently used to simulate the responses of endogenous variables to exogenous shocks. Because the models are complex, it is often difficult to predict the outcomes of such experiments, to explain the results in an intuitive way, or to determine why alternative models produce different results.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Refrences

  1. Coen, R.M., Hickman, B.G. (1995): Demand Management, Real Wage Rigidity, and Unemployment. In: Dutta, M. (Ed.), Economics, Econometrics and the LINK. Essays in Honor of Lawrence R. Klein. North-Holland, Amsterdam, 159–199Google Scholar
  2. Dornbusch, R., Fischer, St. (1987): Macroeconomics, 4th edition. McGraw-Hill, New York et al., Chapter 13Google Scholar
  3. Green, R.J., Hickman, B.G.,, Howrey, E.Ph., Hymans, S.H., Donahue, M.R. (1991): The IS-LM Cores of Three Econometric Models. In. Klein, L.R. (ed.): Comparative Performance of U.S. Econometric Models. Oxford University Press, New York, 89–124Google Scholar
  4. Hickman, B.G. (1983): EMF 7 Model Comparisons: Key Relationships and Parameters. EMF 7.3, Energy Modeling Forum. Stanford University, Stanford, CAGoogle Scholar
  5. Hickman, B.G. (1987): Macroeconomic Impacts of Energy Shocks and Policy Responses: A Structural Comparison of Fourteen Models. In: Hickman, B.G., Huntington, H.G., Sweeny, J.L. (Eds.), Macroeconomic Impacts of Energy Shocks. North-Holland, Amsterdam, 125–198Google Scholar
  6. Hickman, B.G. (1988): The U.S. Economy and the International Transmission Mechanism. In: Bryant, R.C., Henderson, D.W., Holtham, G., Hooper, P., Symansky, St.A. (Eds.), Empirical Macroeconomics for Interdependent Economies. Brookings, Washington, DC, 92–130Google Scholar
  7. Hickman, B.G. (1999): Reflektionen eines makroökonometrischen Modellbauers. RWI-Mitteilungen 50, 247–268Google Scholar
  8. Hickman, B.G., Coen, R.M. (1976): An Annual Growth Model of the U.S. Economy. North-Holland, AmsterdamGoogle Scholar
  9. Mankiw, N.G. (1994): Macroeconomics, 2nd edition. Worth Publishers, New York, Chapter 11Google Scholar

Copyright information

© Springer-Verlag Berlin Heidelberg 2004

Authors and Affiliations

  • Bert G. Hickman
    • 1
  1. 1.Department of EconomicsStanford UniversityStanfordUSA

Personalised recommendations