The Econometrics of Macroeconomic Modelling, 9780199246496
Hardcover
Macro models evolve: surviving critique, adapting to policy, and forecasting futures.

$263.75

  • Hardcover

    368 pages

  • Release Date

    14 April 2005

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Summary

Revitalizing Macroeconometric Models: A Modern Approach to Economic Policy

Macroeconometric models, once the cornerstone of economic forecasting in the 1960s, faced criticism from both theorists and practitioners in the late 1970s. Concerns were raised about their lack of microeconomic foundations, ad hoc expectations models, identification issues, neglect of dynamics and non-stationarity, and subpar forecasting performance. By the early 1990s, the prominence of these models had sig…

Book Details

ISBN-13:9780199246496
ISBN-10:0199246491
Series:Advanced Texts in Econometrics
Author:Eilev S. Jansen, Gunnar Bårdsen, Øyvind Eitrheim, Ragnar Nymoen
Publisher:Oxford University Press
Imprint:Oxford University Press
Format:Hardcover
Number of Pages:368
Release Date:14 April 2005
Weight:681g
Dimensions:242mm x 163mm x 25mm
What They're Saying

Critics Review

This book gives an excellent insight into the process of forming a high-quality, real-world macro-model then evaluating and using it. This is an important topic and makes this an important book. Clive W.J. Granger, Nobel Laureate

About The Author

Eilev S. Jansen

Gunnar Bårdsen is Senior Advisor at Norges Bank (Central Bank of Norway) and Associate Professor at the Norwegian University of Science and Technology in Trondheim. He has published papers in macroeconomics, monetary economics, and theoretical and applied econometrics.

Øyvind Eitrheim, b. 1958, has been Director of Research at Norges Bank since 2001. He has previously been Head of the Model Building Unit (1996-2001) at the central bank. He was a Visiting Scholar at University of California, San Diego (1990-1991). Eitrheim has been with Norges Bank since January 1984. He has published papers in macroeconomics, monetary economics, and theoretical and applied econometrics.

Eilev S. Jansen, b. 1948, is a Director at the Central Bank of Norway and a Professor at Department of Economics, Norwegian University of Science and Technology, Trondheim. He has previously been Head of the Model Building Unit (1983-1988) and Director of Research (1988-2001) at the central bank. He was a Visiting Scholar at London School of Economics (1975-76), University of California (1993-93,2003-04), and the European Central Bank, Frankfurt (2003). Other affiliations include Department of Economics, University of Oslo (1972-77, 2001-02) and Stastitics Norway (1978-82). He has published papers in international journals and books and he is a co-author of “The econometrics of incomplete time-series/cross-section data” (with Erik Biørn).

Ragnar Nymoen, b. 1957, is Professor at the Department of Economics, University of Oslo. He has published papers in macroeconomics and econometrics. In the period 1985-1996, he worked as an economist in the Research Department in Central Bank of Norway.

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