This paper asks the question: Why has the ?general-to-specific? cointegrated VAR approach as developed in Europe had only limited success in the US as a tool for doing empirical macroeconomics, where what might be called a ?theory comes first? approach dominates? The reason this paper highlights...

In many areas of the world, including large parts of the United States, scarce water supplies are a serious resource and environmental concern. The possibility exists that water is being used at rates that exceed what would be dictated by efficiency criteria, particularly when externalities are...

The Hudson-Jorgenson Energy/Economic Model - formally known as the Long Term Interindustry Transactions Model (LITM) - is an econometric model of the structure of the US economy. LITM integrates two separate models into one integrated system. These models are the Macroeconomic Model, a growth...