Intertemporal modelling is becoming increasingly important in general equilibrium policy analysis. Issues such as natural resource management, pollution control, investment, the promotion of technical change, and the accumulation of foreign debt all involve explicit intertemporal behavior and...

In the aftermath of the rational expectations debate and the onslaught of the New Classical economics,some builders of macroeconometric models have begun to change some of their habits, arguably for the better. In particular,neoclassical discipline is increasingly respected in the formulation of...