The Craft of Economic Modeling
| Author | : | |
| Rating | : | 4.35 (575 Votes) |
| Asin | : | 1548489786 |
| Format Type | : | paperback |
| Number of Pages | : | 458 Pages |
| Publish Date | : | 2017-02-21 |
| Language | : | English |
DESCRIPTION:
system of national accounts, but one chapter deals with modeling with the more complicated System of National Accounts used by most other countries. It uses free software available from the Internet together with regularly updated databanks including the quarterly national accounts of the United States and other quarterly data. It then moves to models built with real data in the framework of the U.S. Once the identities are are working properly, the modeler can procede to the estimation of equations by least-squares regressions. Multi-sectoral models can use many of the same techniques used for macromodels, but there are some additional problems. One of these is the estimation of personal consumption functions where the demand for any one product depends not only on its price but those of a