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

ISBN-13: 9783540631460 / Angielski / Twarda / 1997 / 455 str.

Alan A. Powell; Christopher W. Murphy

Opis

The book gives a detailed account of a contemporary macroeconometric model that is regulary used for policy advising and for forecasting in commerce and industry.

Spis treści

1 — Setting the Scene.- 1 How to Use this Book.- 2 Distinguishing Features of MM.- 3 Principal Mechanisms in MM.- 2 — Structural Form of MM.- 4 Overview of Part Two.- 5 Wage Behaviour.- 6 Labour Force Participation.- 7 Private Consumption Behaviour.- 8 Behaviour of the Rental Price of Housing.- 9 Production of Housing Rental Services and Investment in Dwellings.- 10 The Enterprise Production Block of the Business Sector.- 11 Business Fixed Investment.- 12 Business Sector Employment.- 13 Import Supply and Demand.- 14 Aggregate Export Supply.- 15 Disaggregation of Export Supply.- 16 Overseas Demand for ‘Commodity’ Exports.- 17 Inventory Investment in ‘Commodity’ Exports.- 18 Demand for Non-‘Commodity’ Exports.- 19 Domestic Good Inventory Investment.- 20 Price Dynamics for the Domestic Good.- 21 Sales of the Domestic Good; Miscellaneous Identities for Investment and Capital.- 22 The Government Sector.- 23 Financial Markets.- 24 National-Accounting, Stock-Flow and Miscellaneous Identities.- 3 — Simulations with MM.- 25 Introduction to the Simulations.- 26 Monetary Shocks.- 27 A Fiscal Shock.- 4 — New Horizons.- 28 MM2 — A Fully Integrated Macro-CGE Model.- References.- Author and Personal Names Index.- Tables.- Figures.- Exercises.