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| Author: | Juselius, K. |
| Title: | VAR modelling and Haavelmo's probability approach to macroeconomic modelling |
| Journal: | Empirical Economics
1993 : VOL. 18:4, p. 595-622 |
| Index terms: | MACROECONOMIC MODELS ECONOMICS PROBABILITY |
| Language: | eng |
| Abstract: | Some recent developments in the macroeconometric analysis of time series are discussed in the light of Haavelmo (1944). Experimental design in econometrics is discussed and related to the case of passive observation. The general ideas are illustrated with an analysis of the long-run and short-run structure in Danish monetary data. The paper discusses some shortcomings in applied econometric work and shows how recent advances provide powerful tools for analyzing complicated macroeconomic phenomena. |
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