Jump to ContentJump to Main Navigation
Global and National Macroeconometric ModellingA Long-Run Structural Approach$
Users without a subscription are not able to see the full content.

Anthony Garratt, Kevin Lee, M. Hashem Pesaran, and Yongcheol Shin

Print publication date: 2006

Print ISBN-13: 9780199296859

Published to Oxford Scholarship Online: September 2006

DOI: 10.1093/0199296855.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 14 November 2019

National and global structural macroeconometric modelling

National and global structural macroeconometric modelling

Chapter:
(p.33) 3 National and global structural macroeconometric modelling
Source:
Global and National Macroeconometric Modelling
Author(s):

Anthony Garratt (Contributor Webpage)

Kevin Lee (Contributor Webpage)

M. Hashem Pesaran (Contributor Webpage)

Yongcheol Shin (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/0199296855.003.0003

This chapter describes a framework for macroeconometric modelling, which draws out the links with economic theory relating to the long run and with theory relating to the short run. It elaborates a modelling strategy that can be employed to accommodate directly the theory of the long run, and notes the ways in which short-run theory can also be accommodated in national and global models. Recent literature on modelling short-run dynamics is reviewed, highlighting the difficulties in obtaining consensus on appropriate short-run restrictions and commenting on the approaches taken in the literature in examining policy shocks in general, and monetary policy in particular.

Keywords:   identification, long-run restrictions, short-run restrictions, error correction model, modelling strategy, policy shocks, monetary policy

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .