Macroeconomic Modelling Of The Long Run
This important book presents new original material on the economic modelling of the long run by some of the world's leading economists. There is great interest now in modelling the â€˜long runâ€™ occasioned by substantial changes to the supply side of the world economy (the break up of the USSR, Europe 1992, the Gulf War) and also fears over the sustainability of external debt positions. New techniques have arisen to address these issues, in particular supply side modelling and the new co-integration methodology for statistical analysis of the long run. In addition to explaining the theoretical developments, this book presents many practical applications showing the value of the new techniques.