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Reflections on Macroeconometric Modeling

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Abstract

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.

Suggested Citation

  • Ray C. Fair, 2013. "Reflections on Macroeconometric Modeling," Cowles Foundation Discussion Papers 1908, Cowles Foundation for Research in Economics, Yale University, revised Mar 2014.
  • Handle: RePEc:cwl:cwldpp:1908
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    File URL: https://cowles.yale.edu/sites/default/files/files/pub/d19/d1908.pdf
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    References listed on IDEAS

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    1. Julio J. Rotemberg & Michael Woodford, 1998. "An Optimization-Based Econometric Framework for the Evaluation of Monetary Policy: Expanded Version," NBER Technical Working Papers 0233, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Driscoll, John C. & Holden, Steinar, 2014. "Behavioral economics and macroeconomic models," Journal of Macroeconomics, Elsevier, vol. 41(C), pages 133-147.

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    More about this item

    Keywords

    Macroeconometric modeling;

    JEL classification:

    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General

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