001478381 000__ 04815nam\a22008415i\4500 001478381 001__ 1478381 001478381 003__ DE-B1597 001478381 005__ 20231026034900.0 001478381 006__ m\\\\\o\\d\\\\\\\\ 001478381 007__ cr\un\nnnunnun 001478381 008__ 221201t20092004mau\\\\\o\\d\z\\\\\\eng\d 001478381 020__ $$a9780674036635 001478381 0247_ $$a10.4159/9780674036635$$2doi 001478381 035__ $$a(DE-B1597)589936 001478381 035__ $$a(OCoLC)1294424058 001478381 040__ $$aDE-B1597$$beng$$cDE-B1597$$erda 001478381 0410_ $$aeng 001478381 044__ $$amau$$cUS-MA 001478381 050_4 $$aHB172.5 ǂb F345 2004eb 001478381 072_7 $$aBUS069030$$2bisacsh 001478381 08204 $$a339 001478381 1001_ $$aFair, Ray C., $$eauthor.$$4aut$$4http://id.loc.gov/vocabulary/relators/aut 001478381 24510 $$aEstimating How the Macroeconomy Works /$$cRay C. Fair. 001478381 264_1 $$aCambridge, MA : $$bHarvard University Press, $$c[2009] 001478381 264_4 $$c©2004 001478381 300__ $$a1 online resource (314 p.) 001478381 336__ $$atext$$btxt$$2rdacontent 001478381 337__ $$acomputer$$bc$$2rdamedia 001478381 338__ $$aonline resource$$bcr$$2rdacarrier 001478381 347__ $$atext file$$bPDF$$2rda 001478381 50500 $$tFrontmatter -- $$tContents -- $$tTables -- $$tFigures -- $$tPreface -- $$tAbbreviations -- $$t1 Introduction -- $$t2 The MC Model -- $$t3 Interest Rate Effects -- $$t4 Testing the NAIRU Model -- $$t5 U.S. Wealth Effects -- $$t6 Testing for a New Economy in the 1990s -- $$t7 A "Modern" View of Macroeconomics -- $$t8 Estimated European Inflation Costs -- $$t9 Stochastic Simulation and Bootstrapping -- $$t10 Certainty Equivalence -- $$t11 Evaluating Policy Rules -- $$t12 EMU Stabilization Costs -- $$t13 RE Models -- $$t14 Model Comparisons -- $$t15 Conclusion -- $$tAppendix A The US Model -- $$tAppendix B The ROW Model -- $$tReferences -- $$tIndex 001478381 506__ $$aAccess limited to authorized users. 001478381 520__ $$aMacroeconomics tries to describe and explain the economywide movement of prices, output, and unemployment. The field has been sharply divided among various schools, including Keynesian, monetarist, new classical, and others. It has also been split between theorists and empiricists. Ray Fair is a resolute empiricist, developing and refining methods for testing theories and models. The field cannot advance without the discipline of testing how well the models approximate the data. Using a multicountry econometric model, he examines several important questions, including what causes inflation, how monetary authorities behave and what are their stabilization limits, how large is the wealth effect on aggregate consumption, whether European monetary policy has been too restrictive, and how large are the stabilization costs to Europe of adopting the euro. He finds, among other things, little evidence for the rational expectations hypothesis and for the so-called non-accelerating inflation rate of unemployment (NAIRU) hypothesis. He also shows that the U.S. economy in the last half of the 1990s was not a "new age" economy. 001478381 538__ $$aMode of access: Internet via World Wide Web. 001478381 546__ $$aIn English. 001478381 5880_ $$aDescription based on online resource; title from PDF title page (publisher's Web site, viewed 01. Dez 2022) 001478381 650_7 $$aBUSINESS & ECONOMICS / Economics / Theory.$$2bisacsh 001478381 655_0 $$aElectronic books 001478381 77308 $$iTitle is part of eBook package:$$dDe Gruyter$$tHUP eBook Package Archive 1893-1999$$z9783110442212 001478381 77308 $$iTitle is part of eBook package:$$dDe Gruyter$$tHarvard University Press eBook Package Backlist 2000-2013$$z9783110442205 001478381 852__ $$bebk 001478381 85640 $$3De Gruyter$$uhttps://univsouthin.idm.oclc.org/login?url=https://www.degruyter.com/isbn/9780674036635$$zOnline Access 001478381 909CO $$ooai:library.usi.edu:1478381$$pGLOBAL_SET 001478381 912__ $$a978-3-11-044220-5 Harvard University Press eBook Package Backlist 2000-2013$$c2000$$d2013 001478381 912__ $$a978-3-11-044221-2 HUP eBook Package Archive 1893-1999$$c1893$$d1999 001478381 912__ $$aEBA_BACKALL 001478381 912__ $$aEBA_CL_LAEC 001478381 912__ $$aEBA_EBACKALL 001478381 912__ $$aEBA_EBKALL 001478381 912__ $$aEBA_ECL_LAEC 001478381 912__ $$aEBA_EEBKALL 001478381 912__ $$aEBA_ESSHALL 001478381 912__ $$aEBA_ESTMALL 001478381 912__ $$aEBA_PPALL 001478381 912__ $$aEBA_SSHALL 001478381 912__ $$aEBA_STMALL 001478381 912__ $$aGBV-deGruyter-alles 001478381 912__ $$aPDA11SSHE 001478381 912__ $$aPDA12STME 001478381 912__ $$aPDA13ENGE 001478381 912__ $$aPDA17SSHEE 001478381 912__ $$aPDA18STMEE 001478381 912__ $$aPDA5EBK 001478381 980__ $$aBIB 001478381 980__ $$aEBOOK 001478381 982__ $$aEbook 001478381 983__ $$aOnline