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Inside a Modern Macroeconometric Model : A Guide to the Murphy Model :  A Guide to the Murphy Model - Alan A. Powell

Inside a Modern Macroeconometric Model : A Guide to the Murphy Model

A Guide to the Murphy Model

Hardcover Published: May 2009
ISBN: 9783540631460
Number Of Pages: 455

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This book is unique. It gives a clear and systematic account of the economic basis of every equation in a major 100-equation macro model, plus full documentation of parameters and simulation properties. Results are explained in detail with the help of miniature models that capture the important macrodynamics as well as the steady-state properties of the model. Microeconomic underpinnings are stressed throughout. This book will be particularly useful to practitioners of policy economics and forecasting, as well as to upper-level undergraduate and graduate students in economics and econometrics.

Model-Builder's Preface
Model-Watcher's Preface
How to Use this Book
Distinguishing Features of MM
Principal Mechanisms in MM
Overview of Part Two
Wage Behaviour
Labour Force Participation
Private Consumption Behaviour
Behaviour of the Rental Price of Housing
Production of Housing Rental Services and Investment in Dwellings
The Enterprise Production Block of the Business Sector
Business Fixed Investment
Business Sector Employment
Import Supply and Demand
Aggregate Export Supply
Disaggregation of Export Supply
Overseas Demand for 'Commodity' Exports
Inventory Investment in 'Commodity' Exports
Demand for Non-'Commodity' Exports
Domestic Good Inventory Investment
Price Dynamics for the Domestic Good
Sales of the Domestic Good; Miscellaneous Identities for Investment and Capital
The Government Sector
Financial Markets
National-Accounting, Stock-Flow and Miscellaneous Identities
Introduction to the Simulations
Monetary Shocks
A Fiscal Shock
MM2 - A Fully Integrated Macro-CGE Model
Author and Personal Names Index
Subject Index
Table of Contents provided by Blackwell. All Rights Reserved.

ISBN: 9783540631460
ISBN-10: 3540631461
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 455
Published: May 2009
Publisher: Springer-Verlag Berlin and Heidelberg Gmbh & Co. Kg
Country of Publication: DE
Dimensions (cm): 24.77 x 16.51  x 3.18
Weight (kg): 0.84
Edition Number: 2
Edition Type: Revised