IDEAS home Printed from https://ideas.repec.org/p/bfr/banfra/129.html
   My bibliography  Save this paper

La Modélisation Macro–Econométrique Dynamique

Author

Listed:
  • Fève, F.

Abstract

This paper presents the recent developments of macro-econometric modelling and discusses their advantages and limits. We first present the Sims critique and the Lucas critique. These two critiques have opened two new ways of macro-modelling. On the one hand, the Structural VAR approach allows to simply represent aggregate data with a small number of restrictions and to easily conduct various quantitative exercises (forecasting, dynamic multipliers of economic policy). On the other hand, the DSGE approach considers structural dynamic models wherein reduced forms are deduced from dynamic optimization problems (households, firms,...) with respect to a set of constraints. We thus present various quantitative methods and we discuss their advantages and limits.

Suggested Citation

  • Fève, F., 2005. "La Modélisation Macro–Econométrique Dynamique," Working papers 129, Banque de France.
  • Handle: RePEc:bfr:banfra:129
    as

    Download full text from publisher

    File URL: https://publications.banque-france.fr/sites/default/files/medias/documents/working-paper_129_2005.pdf
    Download Restriction: no

    More about this item

    Keywords

    Macro-econometric Modelling; Sims Critique; Lucas Critique; Quantitative Methods.;

    JEL classification:

    • C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bfr:banfra:129. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael brassart). General contact details of provider: http://edirc.repec.org/data/bdfgvfr.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.