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Do we need new modelling approaches in macroeconomics?

Buch, Claudia M.; Holtemöller, Oliver - 2014

that the above statements are a caricature of modern economic theory and empirics. A rich field of research developed …

Persistent link: https://www.econbiz.de/10010363500

An Aggregate-Level Macro Model for the Indian Economy

Yoshino, Naoyuki; Paramanik, Rajendra Narayan; … - 2021

We make an empirical attempt to model the Indian economy at an aggregate level with annual data, ranging from 1980 to 2019. Our major theoretical premise mimics the New Keynesian framework, which is based on the microeconomic foundations of Keynesian economics. We propose a whole economic...

Persistent link: https://www.econbiz.de/10013239029

The French Block of the Escb Multi-Country Model

Boissay, Frédéric; Villetelle, Jean-Pierre - 2021

This paper presents the French country block of the ESCB Multi-Country Model for the euro area, which has been built in collaboration by the ECB and the Banque de France. The theoretical structure of the model is in line with most current macroeconometric models, i.e. supply factors determine...

Persistent link: https://www.econbiz.de/10013318681

Microfoundational programs

Hoover, Kevin D. - 2010 - Revised, 16 May 2010

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

Heterodox shocks

Hannsgen, Greg - 2013 - Revised version

Should shocks be part of our macro-modeling tool kit - for example, as a way of modeling discontinuities in fiscal policy or big moves in the financial markets? What are shocks, and how can we best put them to use? In heterodox macroeconomics, shocks tend to come in two broad types, with some...

Persistent link: https://www.econbiz.de/10009752205

EUROMON : The Multi-Country Model of De Nederlandsche Bank

Demertzis, Maria - 2011

This Occasional Study wraps up the modelling work that has been done in recent years regarding DNB's multi-country model EUROMON. It offers a description of the current version of the model and provides information about its simulation properties through the analysis of variety of standard...

Persistent link: https://www.econbiz.de/10013124017

A macroeconometric model for Russia

Bolatbayeva, Aizhan; Tolepbergen, Alisher; Abilov, Nurdaulet - In: Russian journal of economics 6 (2020) 2, pp. 114-143

The paper outlines a structural macroeconometric model for the economy of Russia. The aim of the research is to analyze how the domestic economy functions, generate forecasts for important macroeconomic indicators and evaluate the responses of main endogenous variables to various shocks. The...

Persistent link: https://www.econbiz.de/10012265606

Russia from Bust to Boom : Oil, Politics or the Ruble?

Merlevede, Bruno; Van Aarle, Bas; Schoors, Koen J. L. - 2015

This paper develops and estimates a small macroeconomic model of the Russian economy. The model is tailored to analyze the impact of the oil price, the exchange rate, and political stability on economic performance. The model does very well in explaining Russia's economic history in the period...

Persistent link: https://www.econbiz.de/10014068584

Economics as a 'Tooled' Discipline : Lawrence R. Klein and the Making of Macroeconometric Modeling, 1939-1959

Pinzón-Fuchs, Erich - 2018

econometrics, providing a new understanding of twentieth century economics as a “tooled” discipline in which theory (economic and …

Persistent link: https://www.econbiz.de/10012934120

Stock-Flow Consistent Macroeconomic Models : A Survey

Nikiforos, Michalis - 2017

The stock-flow consistent (SFC) modeling approach, grounded in the pioneering work of Wynne Godley and James Tobin in the 1970s, has been adopted by a growing number of researchers in macroeconomics, especially after the publication of Godley and Lavoie (2007), which provided a general framework...

Persistent link: https://www.econbiz.de/10012955694