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Statistical Analysis and Evaluation of Macroeconomic Policies: A Selective Review

Author

Listed:
  • Zeqin Liu

    (The Wang Yanan Institute for Studies in Economics, Xiamen University, Xiamen, China)

  • Zongwu Cai

    (Department of Economics, The University of Kansas)

  • Ying Fang

    (The Wang Yanan Institute for Studies in Economics, Xiamen University, Xiamen, China)

  • Ming Lin

    (The Wang Yanan Institute for Studies in Economics, Xiamen University, Xiamen, China)

Abstract

In this paper, we highlight some recent developments of a new route to evaluate macroeconomic policy effects, which are investigated under the framework with potential out- comes. First, this paper begins with a brief introduction of the basic model setup in modern econometric analysis of program evaluation. Secondly, primary attention goes to the focus on causal effect estimation of macroeconomic policy with single time series data together with some extensions to multiple time series data. Furthermore, we examine the connection of this new approach to traditional macroeconomic models for policy analysis and evaluation. Finally, we conclude by addressing some possible future research directions in statistics and econometrics.

Suggested Citation

  • Zeqin Liu & Zongwu Cai & Ying Fang & Ming Lin, 2019. "Statistical Analysis and Evaluation of Macroeconomic Policies: A Selective Review," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 201904, University of Kansas, Department of Economics, revised Mar 2019.
    • Handle: RePEc:kan:wpaper:201904
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    File URL: http://www2.ku.edu/~kuwpaper/2019Papers/201904.pdf
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    References listed on IDEAS

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    Cited by:

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    More about this item

    Keywords

    Impulse response function; Macroeconomic casual inferences; Macroeconomic pol- icy evaluation; Multiple time series data; Potential outcomes; Treatment effect.;
    All these keywords.

    JEL classification:

    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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