For Masters and PhD students in EconomicsIn this textbook, the
duality between the equilibrium concept used in dynamic economic
theory and the stationarity of economic variables is explained and
used in the presentation of single equations models and system of
equations such as VARs, recursive models and simultaneous equations
models.The book also contains chapters on: exogeneity, in the
context of estimation, policy analysis and forecasting; automatic
(computer based) variable selection, and how it can aid in the
specification of an empirical macroeconomic model; and finally, on
a common framework for model-based economic
forecasting.Supplementary materials and notes are available on the
publisher's website.
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