Steady state and rational expectations in macroeconometric models

Beschreibung

"An increasing interest in the long-run properties has developed since the mideighties. As a result macroeconometric modelling has begun to include aspects like steady state growth and model-consistent expectations. This paper surveys the essential properties of these models. We will present solution methods and an approach for constructing a separate steady state model. Finally, we will discuss whether this 'new' modelling approach is preferable to the 'traditional' approach." (Author's abstract, IAB-Doku) ((en))

Zitationshinweis

Wiemers, Jürgen (2002): Steady state and rational expectations in macroeconometric models. In: R. Pohl & H. P. Galler (Hrsg.) (2002): Macroeconometric modelling of the German economy in the framework of Euroland (Schriften des Instituts für Wirtschaftsforschung Halle, 11), S. 23-43.