The Resource An Econometric Model of the US Economy : Structural Analysis in 56 Equations, by John J. Heim, (electronic book)
An Econometric Model of the US Economy : Structural Analysis in 56 Equations, by John J. Heim, (electronic book)
Resource Information
The item An Econometric Model of the US Economy : Structural Analysis in 56 Equations, by John J. Heim, (electronic book) represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in University of Liverpool.This item is available to borrow from 1 library branch.
Resource Information
The item An Econometric Model of the US Economy : Structural Analysis in 56 Equations, by John J. Heim, (electronic book) represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in University of Liverpool.
This item is available to borrow from 1 library branch.
 Summary
 This book explores the US economy from 1960 to 2010 using a more Keynsian, Cowles model approach, which the author argues has substantial advantages over the vector autoregression (VAR) and dynamic stochastic general equilibrium (DSGE) models used almost exclusively today. Heim presents a robust argument in favor of the Cowles model as an answer to the pressing, unresolved methodological question of how to accurately model the macroeconomy so that policymakers can reliably use these models to assist their decision making. Thirtyeight behavioral equations, describing determinants of variables such as consumption, taxes, and government spending, are connected by eighteen identities to construct a comprehensive model of the real US economy that Heim then tests across four different time periods to ensure that results are consistent. This comprehensive demonstration of the value of a longignored model provides overwhelming evidence that the more Keynesian (Cowles) structural models outperform VAR and DSGE, and therefore should be the models of choice in future macroeconomic studies
 Language
 eng
 Extent
 1 online resource (XXX, 460 pages 14 illustrations)
 Contents

 1. Introduction to Part 1 (Production of the GDP)
 2. Methodology
 3. Literature Review
 4. The Consumption Models
 5. Models Indicating Determinants of Investment Spending and Borrowing
 6. The Exports Demand Equation
 7. Statistically Estimated Real GDP Determination Functions ("IS" Curves)
 8. Real GDP Determination Functions (?IS? Curves) Aggregated from Estimates Obtained by Statistically Estimating the Subcomponent Functions Comprising the GDP
 9. Determinants of the Prime Interest Rate: Taylor Rule Method
 10. Determinants of the Prime Interest Rate: LM Curve Method
 11. Determinants of Inflation: The Phillips Curve Model
 12. Determinants of Unemployment
 13. The Savings Functions
 14. Determinants of Government Receipts
 15. Edogeneity of Government Spending
 16. Capacity of the Model to Explain Behavior of the Macroeconomy in the Years beyond the Period Used to Estimate the Model
 17. Converting the Older Keynsian ISLM Model to the More Modern ASAD Interpretation of the Kenysian Model
 18. Dynamics
 19. Summary and Conclusions (Production Side of the NIPA Accounts)
 20. Part II: Determinants of Factor Shares (Income Side of the NIPA Accounts)
 Isbn
 9783319506814
 Label
 An Econometric Model of the US Economy : Structural Analysis in 56 Equations
 Title
 An Econometric Model of the US Economy
 Title remainder
 Structural Analysis in 56 Equations
 Statement of responsibility
 by John J. Heim
 Language
 eng
 Summary
 This book explores the US economy from 1960 to 2010 using a more Keynsian, Cowles model approach, which the author argues has substantial advantages over the vector autoregression (VAR) and dynamic stochastic general equilibrium (DSGE) models used almost exclusively today. Heim presents a robust argument in favor of the Cowles model as an answer to the pressing, unresolved methodological question of how to accurately model the macroeconomy so that policymakers can reliably use these models to assist their decision making. Thirtyeight behavioral equations, describing determinants of variables such as consumption, taxes, and government spending, are connected by eighteen identities to construct a comprehensive model of the real US economy that Heim then tests across four different time periods to ensure that results are consistent. This comprehensive demonstration of the value of a longignored model provides overwhelming evidence that the more Keynesian (Cowles) structural models outperform VAR and DSGE, and therefore should be the models of choice in future macroeconomic studies
 Cataloging source
 AZU
 http://library.link/vocab/creatorName
 Heim, John J
 Dewey number
 330.015195
 Illustrations
 illustrations
 Index
 no index present
 LC call number
 HB139141
 Literary form
 non fiction
 Nature of contents
 dictionaries
 http://library.link/vocab/subjectName

 Econometrics
 Macroeconomics
 Regional economics
 Space in economics
 Label
 An Econometric Model of the US Economy : Structural Analysis in 56 Equations, by John J. Heim, (electronic book)
 Antecedent source
 mixed
 Carrier category
 online resource
 Carrier category code

 cr
 Carrier MARC source
 rdacarrier
 Color
 not applicable
 Content category
 text
 Content type code

 txt
 Content type MARC source
 rdacontent
 Contents
 1. Introduction to Part 1 (Production of the GDP)  2. Methodology  3. Literature Review  4. The Consumption Models  5. Models Indicating Determinants of Investment Spending and Borrowing  6. The Exports Demand Equation  7. Statistically Estimated Real GDP Determination Functions ("IS" Curves)  8. Real GDP Determination Functions (?IS? Curves) Aggregated from Estimates Obtained by Statistically Estimating the Subcomponent Functions Comprising the GDP  9. Determinants of the Prime Interest Rate: Taylor Rule Method  10. Determinants of the Prime Interest Rate: LM Curve Method  11. Determinants of Inflation: The Phillips Curve Model  12. Determinants of Unemployment  13. The Savings Functions  14. Determinants of Government Receipts  15. Edogeneity of Government Spending  16. Capacity of the Model to Explain Behavior of the Macroeconomy in the Years beyond the Period Used to Estimate the Model  17. Converting the Older Keynsian ISLM Model to the More Modern ASAD Interpretation of the Kenysian Model  18. Dynamics  19. Summary and Conclusions (Production Side of the NIPA Accounts)  20. Part II: Determinants of Factor Shares (Income Side of the NIPA Accounts)
 Dimensions
 unknown
 Extent
 1 online resource (XXX, 460 pages 14 illustrations)
 File format
 multiple file formats
 Form of item
 online
 Isbn
 9783319506814
 Level of compression
 uncompressed
 Media category
 computer
 Media MARC source
 rdamedia
 Media type code

 c
 Other control number
 10.1007/9783319506814
 Other physical details
 online resource
 Quality assurance targets
 absent
 Reformatting quality
 access
 Specific material designation
 remote
 System control number

 on1021195793
 (OCoLC)1021195793
 Label
 An Econometric Model of the US Economy : Structural Analysis in 56 Equations, by John J. Heim, (electronic book)
 Antecedent source
 mixed
 Carrier category
 online resource
 Carrier category code

 cr
 Carrier MARC source
 rdacarrier
 Color
 not applicable
 Content category
 text
 Content type code

 txt
 Content type MARC source
 rdacontent
 Contents
 1. Introduction to Part 1 (Production of the GDP)  2. Methodology  3. Literature Review  4. The Consumption Models  5. Models Indicating Determinants of Investment Spending and Borrowing  6. The Exports Demand Equation  7. Statistically Estimated Real GDP Determination Functions ("IS" Curves)  8. Real GDP Determination Functions (?IS? Curves) Aggregated from Estimates Obtained by Statistically Estimating the Subcomponent Functions Comprising the GDP  9. Determinants of the Prime Interest Rate: Taylor Rule Method  10. Determinants of the Prime Interest Rate: LM Curve Method  11. Determinants of Inflation: The Phillips Curve Model  12. Determinants of Unemployment  13. The Savings Functions  14. Determinants of Government Receipts  15. Edogeneity of Government Spending  16. Capacity of the Model to Explain Behavior of the Macroeconomy in the Years beyond the Period Used to Estimate the Model  17. Converting the Older Keynsian ISLM Model to the More Modern ASAD Interpretation of the Kenysian Model  18. Dynamics  19. Summary and Conclusions (Production Side of the NIPA Accounts)  20. Part II: Determinants of Factor Shares (Income Side of the NIPA Accounts)
 Dimensions
 unknown
 Extent
 1 online resource (XXX, 460 pages 14 illustrations)
 File format
 multiple file formats
 Form of item
 online
 Isbn
 9783319506814
 Level of compression
 uncompressed
 Media category
 computer
 Media MARC source
 rdamedia
 Media type code

 c
 Other control number
 10.1007/9783319506814
 Other physical details
 online resource
 Quality assurance targets
 absent
 Reformatting quality
 access
 Specific material designation
 remote
 System control number

 on1021195793
 (OCoLC)1021195793
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<div class="citation" vocab="http://schema.org/"><i class="fa faexternallinksquare fafw"></i> Data from <span resource="http://link.liverpool.ac.uk/portal/AnEconometricModeloftheUSEconomy/7WuLZD2Y7bY/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.liverpool.ac.uk/portal/AnEconometricModeloftheUSEconomy/7WuLZD2Y7bY/">An Econometric Model of the US Economy : Structural Analysis in 56 Equations, by John J. Heim, (electronic book)</a></span>  <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.liverpool.ac.uk/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.liverpool.ac.uk/">University of Liverpool</a></span></span></span></span></div>