Integration of Fiscal and Monetary Sectors in Econometric Models: A Survey of Theoretical Issues and Empirical Findings (Integration des secteurs budgetaire et monetaire dans les modeles econometriques: examen des questions theoriques et resultats empiriques) (Integracion de los sectores monetario y fiscal en modelos econometricos: Un estudio sobre aspectos teoricos y resultados empiricos)

Choudhry, Nurun N.

doi:10.2307/3866631

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1976

2024

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Cited by 6 publications

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A stock‐flow consistent macro‐econometric model of the UK economy—part I

Davis

1987

J of Applied Econometrics

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This paper surveys briefly the main theoretical developments in the analysis of stock and flow integration in macro-economics, then proceeds to use this corpus of theory as a critique of the structure of existing macro-econometric models of the British economy. An outline is then suggested for a model which would take all of these stock-flow effects into account, given the macro-economic data currently available. In a following paper (Davis, 1987) we give a detailed account of estimation and simulation of such a stock-flow consistent model. *It should be emphasized that till recently this was partly also a consequence both of lack of data and of a relatively short economic policy horizon.

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