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Global and National Macroeconometric Modelling – A Long-Run Structural Approach - Oxford Scholarship Online
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Global and National Macroeconometric Modelling: A Long-Run Structural Approach

Anthony Garratt, Kevin Lee, M. Hashem Pesaran, and Yongcheol Shin


This book provides a comprehensive description of the state-of-the-art in macroeconometric modelling and describes the ‘long-run structural modelling approach’ applied to the modelling of national economies in a global context. The first part of the book discusses the ways in which economic theory and econometric analysis can be brought together to construct a macroeconometric model, in which the long-run relationships are consistent with economic theory and where the short-run dynamics have an interpretation. The discussion considers theoretical as well as practical considerations involved in ... More

Keywords: macroeconomic model, cointegration, probability, forecasting, UK economy, global model, macroeconomic policy, macroeconomic decision-making

Bibliographic Information

Print publication date: 2006 Print ISBN-13: 9780199296859
Published to Oxford Scholarship Online: September 2006 DOI:10.1093/0199296855.001.0001


Affiliations are at time of print publication.

Anthony Garratt, author
Senior Lecturer, Birkbeck College, University of London
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Kevin Lee, author
Professor of Economics, University of Leicester
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M. Hashem Pesaran, author
Professor of Economics, Cambridge University and University of Southern California
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