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on familiar macroeconomic theory and in which expectations are formed rationally. The model is useful for the analysis …
Persistent link: https://www.econbiz.de/10014396359
The model presented in this article is an adaptation of the IS-LM model for an open economy in which both the static aspects and dynamic ones are approached. The determination of marginal main indicators of GDP and interest rates, allow to identify problems and the directions of action to...
Persistent link: https://www.econbiz.de/10011570472
distinction was drawn quite independently of Keynes, yet Keynes's General Theory led to its widespread adoption. The question of … directly in Keynes's own theorizing in the General Theory; a fixed-price general-equilibrium theory, which includes some work … programs and their interrelationship, especially in relationship to the programs of general-equilibrium theory and econometrics …
Persistent link: https://www.econbiz.de/10011603312
The mathematical analogies between economics and classical mechanics can be extended from constrained optimization to constrained dynamics by formalizing economic (constraint) forces and economic power in analogy to physical (constraint) forces in Lagrangian mechanics. In a...
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on familiar macroeconomic theory and in which expectations are formed rationally. The model is useful for the analysis …
Persistent link: https://www.econbiz.de/10012781251
The VAR/SVAR (Vector Autoregressive and Structural Vector Autoregressive) models are the cornerstone of the contemporaneous empirical macroeconomic research, in particular for being able to measure the impact of fiscal policy shocks. They may be employed as atheoretical models, as well as a mean...
Persistent link: https://www.econbiz.de/10012486165
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