Structural macro-wconometric modelling in a policy environment

Martin Fukač and Adrian Pagan

No DP2009/16, Reserve Bank of New Zealand Discussion Paper Series from Reserve Bank of New Zealand

Abstract: In this paper we review the evolution of macroeconomic modelling in a policy environment that took placeover the past sixty years. We identify and characterise four generations of macro models. Particular attention is paid to the fourth generation – dynamic stochastic general equilibrium models. We discuss some of the problems in how these models are implemented and quantified.

JEL-codes: B16 C50 (search for similar items in EconPapers)
Pages: 37 p
Date: 2009-12
New Economics Papers: this item is included in nep-cba and nep-dge
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Citations: View citations in EconPapers (1)

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Related works:
Working Paper: Structural macro-econometric modelling in a policy environment (2010)
Working Paper: Structural Macro-Econometric Modelling in a Policy Environment (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:nzb:nzbdps:2009/16

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