Reflections on Macro-Econometric Modeling

Macro - Econometric System Modelling

We summarize the history of macroeconometric system modelling as having produced four generations of models. Over time the principles underlying the model designs have been extended to incorporate eight major features. Because models often evolve in response to external events we are led to ask what has happened to models used in the policy process since the financial crisis on 2008/9. We find ...

On the Relations between Econometric Sectoral and Macro Models

Reflections on Macroeconometric Modeling

I have been doing research in macroeconomics since the late 1960s, almost 50 years. In this paper I pause and take stock. The paper is part personal reflections on macroeconometric modeling, part a road map of the techniques of macroeconometric modeling, and part comments on what I think I have learned about how the macroeconomy works from my research in this area.

Bent Nielsen : Econometric Modeling

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An Examination of Some Tools for Macro-Econometric Model Building