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The experiment in macroeconometrics

The experiment in macroeconometrics
The experiment in macroeconometrics
This paper examines the experiment in macroeconometrics, the different forms it has taken and the rules that have been proposed for its proper conduct. Here an "experiment" means putting a question to a model and getting an answer. Different types of experiment are distinguished and the justification that can be provided for a particular choice of experiment is discussed. Three types of macroeconometric modelling are considered: the Cowles (system of equations) approach, the vector autoregressive model approach and the computational experiment.



experiment, impulse response analysis, ceteris paribus, structural invariance
604
University of Southampton
Staszewska, Anna
76c0e02b-9d89-4039-8bb8-4d64186df6d4
Aldrich, John
206ecaac-00de-46ff-98d7-0b87668859de
Staszewska, Anna
76c0e02b-9d89-4039-8bb8-4d64186df6d4
Aldrich, John
206ecaac-00de-46ff-98d7-0b87668859de

Staszewska, Anna and Aldrich, John (2005) The experiment in macroeconometrics (Discussion Papers in Economics and Econometrics, 604) Southampton, UK. University of Southampton 36pp.

Record type: Monograph (Discussion Paper)

Abstract

This paper examines the experiment in macroeconometrics, the different forms it has taken and the rules that have been proposed for its proper conduct. Here an "experiment" means putting a question to a model and getting an answer. Different types of experiment are distinguished and the justification that can be provided for a particular choice of experiment is discussed. Three types of macroeconometric modelling are considered: the Cowles (system of equations) approach, the vector autoregressive model approach and the computational experiment.



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More information

Published date: 2005
Additional Information: JEL classification: B41, C5, E37
Keywords: experiment, impulse response analysis, ceteris paribus, structural invariance

Identifiers

Local EPrints ID: 39652
URI: http://eprints.soton.ac.uk/id/eprint/39652
PURE UUID: 72bfbf15-df59-4b01-ad8c-eb3614c2d282

Catalogue record

Date deposited: 29 Jun 2006
Last modified: 15 Mar 2024 08:15

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Contributors

Author: Anna Staszewska
Author: John Aldrich

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