Global and National Macroeconometric Modelling A Long-Run Structural Approach [Hardcover]

This book provides a comprehensive description of the state-of-the-art in modelling global and national economies. It introduces the long-run structural approach to modelling that can be readily adopted for use in understanding how economies work, and in generating forecasts for decision- and policy-makers. The book contains a thorough description of recent developments in macroeconomics and econometrics.

1. Introduction
2. Macroeconometric Modelling: Alternative Approaches
3. National and Global Structural Macroeconometric Modelling
4. An Economic Theory of the Long Run
5. An Economic Theory of the Short Run
6. Econometric Methods: A Review
7. Probability Forecasting: Concepts and Analysis
8. The UK Macroeconomy
9. A Long-Run Structural Model of the UK
10. Impulse Response and Trend: Cycle Properties of the UK Model
11. Probability Event Forecasting with the UK Model
12. Global Modelling and Other Applications
13. Concluding Remarks
Appendix A: Derivation of the Interest Rate Rule
Appendix B: Invariance Properties of the Inpulse Responses to Monetary Policy Shocks
Appendix C: Data for the UK Model

Anthony Garratt is a Senior Lecturer in Economics at Birbeck College, University of London. He has previously worked at the London Business School (1989-1994), the Bank of England (1994-1996), Trinity College and the Department of Applied Economics at the University of Cambridge (1996-2002). Prior to moving to Birkbeck he was Senior Lecturer at the University of Leicester. Kevin Lee is a Professor of Economics at the University of Leicester. He studied economics and statistics at the Universities of Sheffield and Bristol and received his PhD from the London School of Economics. Prior joining the University of Leicester, he was a Fellow of Queens' College and a Senior Research Officer of the Department of Applied Economics at the University of Cambridge. He was Head of the Department of Economics at Leceister (199l#,