Overview
Access this book
Tax calculation will be finalised at checkout
Other ways to access
Table of contents (7 chapters)
Keywords
About this book
The main conclusion of the book is that simultaneous equation models are the best vehicle for EBCR, if all its goals are to be attained simultaneously. This conclusion is based on a fairly detailed assessment of the methods and is not over-turned in the empirical illustrations. The main conclusion does not imply the end of other EBCR methods. Not all goals have to be met with a single vehicle, other methods might serve the purpose equally well - or even better. For example, if one is interested in business cycle forecasts, one might prefer a business cycle indicator or vector autoregressive system.
A second conclusion is that many ideas/concepts that play an important role in current discussions about econometric methodology in general and EBCR in particular, were put forward in the 1930s and 1940s.
A third conclusion is that it is difficult, if not impossible, to compare the outcomes of RBC models to outcomes of the other three methods, because RBC modellers are not interested in modelling business cycles on an observation-per-observation basis. A more general conclusion in this respect is that methods should adopt the same concept of business cycles to make them comparable.
Authors and Affiliations
Bibliographic Information
Book Title: Econometric Business Cycle Research
Authors: Jan Jacobs
DOI: https://doi.org/10.1007/978-1-4615-5591-9
Publisher: Springer New York, NY
-
eBook Packages: Springer Book Archive
Copyright Information: Springer Science+Business Media Dordrecht 1998
Hardcover ISBN: 978-0-7923-8254-6Published: 30 September 1998
Softcover ISBN: 978-1-4613-7558-6Published: 08 October 2012
eBook ISBN: 978-1-4615-5591-9Published: 06 December 2012
Edition Number: 1
Number of Pages: XIV, 228
Topics: Econometrics, Macroeconomics/Monetary Economics//Financial Economics, Economic Growth