Modelling a century and a half of UK macroeconomic data using general to specific methodology.
Growth, structural change and evolution is endemic in any economy, and yet we require well-specified, constant parameter econometric models of macro phenomena to understand economies, forecast and undertake policy analysis. This article draws on recent developments in econometric modelling, includin...
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| Format: | Journal article |
| Language: | English |
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Blackwell Publishing
2007
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| _version_ | 1797077493000175616 |
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| author | Castle, J |
| author_facet | Castle, J |
| author_sort | Castle, J |
| collection | OXFORD |
| description | Growth, structural change and evolution is endemic in any economy, and yet we require well-specified, constant parameter econometric models of macro phenomena to understand economies, forecast and undertake policy analysis. This article draws on recent developments in econometric modelling, including general-to-specific modelling, non-linearity testing and modelling, and outlier detection using indicator saturation, to propose a methodology in which constant parameter models can be built over long periods, yielding substantial insights into macroeconomic behaviour over a century and a half. |
| first_indexed | 2024-03-07T00:18:50Z |
| format | Journal article |
| id | oxford-uuid:7bd1d4a6-bec8-4675-8b2a-24346492fbf9 |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-07T00:18:50Z |
| publishDate | 2007 |
| publisher | Blackwell Publishing |
| record_format | dspace |
| spelling | oxford-uuid:7bd1d4a6-bec8-4675-8b2a-24346492fbf92022-03-26T20:52:58ZModelling a century and a half of UK macroeconomic data using general to specific methodology.Journal articlehttp://purl.org/coar/resource_type/c_dcae04bcuuid:7bd1d4a6-bec8-4675-8b2a-24346492fbf9EnglishDepartment of Economics - ePrintsBlackwell Publishing2007Castle, JGrowth, structural change and evolution is endemic in any economy, and yet we require well-specified, constant parameter econometric models of macro phenomena to understand economies, forecast and undertake policy analysis. This article draws on recent developments in econometric modelling, including general-to-specific modelling, non-linearity testing and modelling, and outlier detection using indicator saturation, to propose a methodology in which constant parameter models can be built over long periods, yielding substantial insights into macroeconomic behaviour over a century and a half. |
| spellingShingle | Castle, J Modelling a century and a half of UK macroeconomic data using general to specific methodology. |
| title | Modelling a century and a half of UK macroeconomic data using general to specific methodology. |
| title_full | Modelling a century and a half of UK macroeconomic data using general to specific methodology. |
| title_fullStr | Modelling a century and a half of UK macroeconomic data using general to specific methodology. |
| title_full_unstemmed | Modelling a century and a half of UK macroeconomic data using general to specific methodology. |
| title_short | Modelling a century and a half of UK macroeconomic data using general to specific methodology. |
| title_sort | modelling a century and a half of uk macroeconomic data using general to specific methodology |
| work_keys_str_mv | AT castlej modellingacenturyandahalfofukmacroeconomicdatausinggeneraltospecificmethodology |