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This book provides a comprehensive description of the
state-of-the-art in modelling global and national economies. It
introduces the long-run structural approach to modelling that can
be readily adopted for use in understanding how economies work, and
in generating forecasts for decision- and policy-makers. The book
contains a thorough description of recent developments in
macroeconomics and econometrics, which should be of interest to
advanced students and researchers, but is also written to be
accessible and helpful to practitioners in government and the
private sector. The long-run structural approach is illustrated
with various global and national examples, including a step-by-step
description of the development and use of a model of the UK
economy. Throughout, the book emphasises the use of
macroeconometric modelling in the real world and is written in a
way that ensures the techniques illustrated can be replicated or
applied in new contexts. The transparency and pragmatism of the
modelling approach used within this book will be attractive to
practitioners who need manageable and interpretable models to
answer specific questions.
This book provides a comprehensive description of the
state-of-the-art in modelling global and national economies. It
introduces the long-run structural approach to modelling that can
be readily adopted for use in understanding how economies work, and
in generating forecasts for decision- and policy-makers. The book
contains a thorough description of recent developments in
macroeconomics and econometrics, which should be of interest to
advanced students and researchers, but is also written to be
accessible and helpful to practitioners in government and the
private sector. The long-run structural approach is illustrated
with various global and national examples, including a step-by-step
description of the development and use of a model of the UK
economy. Throughout, the book emphasises the use of
macroeconometric modelling in the real world and is written in a
way that ensures the techniques illustrated can be replicated or
applied in new contexts. The transparency and pragmatism of the
modelling approach used within this book will be attractive to
practitioners who need manageable and interpretable models to
answer specific questions.
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