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Conference Paper
Resolving the liquidity effect.
Journal Article
Resolving the liquidity effect.
Conference Paper
Phillips curve inflation forecasts - comments
Working Paper
Structural macro-econometric modelling in a policy environment
In this paper we review the evolution of macroeconomic modelling in a policy environment that took place over the past sixty years. We identify and characterise four generations of macro models. Particular attention is paid to the fourth generation -- dynamic stochastic general equilibrium models. We discuss some of the problems in how these models are implemented and quantified.