- data. In
contrast with
typical textbook models,
these large-scale
macroeconometric models used
large amounts of data and
based forecasts on past correlations...
-
research interests include macroeconomic theory, econometrics, and
macroeconometric modeling. He is the author,
along with Karl Case of
Wellesley College...
-
contributions to
econometrics include the
development of the
first macroeconometric models, the
solution of the
identification problem, and the understanding...
-
Econometrics is an
application of
statistical methods to
economic data in
order to give
empirical content to
economic relationships. More precisely, it...
-
components of
aggregate demand.
Lawrence Klein built the
first large-scale
macroeconometric model,
applying the
Keynesian thinking systematically to the US economy...
-
economic data in the world,
which built and
maintained the
largest macroeconometric model of the era. In 1975 he was
elected as a
Fellow of the American...
- Bodkin, Ronald; Klein, Lawrence; Marwah,
Kanta (1991). A
History of
Macroeconometric Model Building.
Edward Elgar. Phillips, A. W. (1958), "The relationship...
-
overlapping generations model.
Quantitative models include early large-scale
macroeconometric model, the new
classical real
business cycle models,
microfounded com****ble...
- of
microfoundations was
Robert Lucas, Jr.'s
critique of
traditional macroeconometric forecasting models.
After the
apparent shift of the
Phillips curve...
-
invalidated policy advice based on
conclusions drawn from large-scale
macroeconometric models.
Because the
parameters of
those models were not structural...
