Natural Concepts in Macroeconomics
AbstractRagnar Frisch proposed in 1936 a procedure for estimating natural variable values by modifying what are now called structural macroeconometric models. This paper shows that Frisch’s procedure can be used to illuminate natural concepts using today’s models. The procedure also forces one to be precise regarding the assumptions used in moving from a short-run model to a medium-run or long-run model.
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Bibliographic InfoPaper provided by Cowles Foundation for Research in Economics, Yale University in its series Cowles Foundation Discussion Papers with number 1525.
Length: 41 pages
Date of creation: Jun 2005
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Find related papers by JEL classification:
- E00 - Macroeconomics and Monetary Economics - - General - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-06-27 (All new papers)
- NEP-ECM-2005-06-27 (Econometrics)
- NEP-HPE-2005-06-27 (History & Philosophy of Economics)
- NEP-MAC-2005-06-27 (Macroeconomics)
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