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Chapter 2 presents a number of macroeconomic models currently ii used in the profession and discusses numerical methods needed to solve them. Macroeconpmic macroeconomics is in part about intertemporal substitution.

Methods for applied macroeconomic research – Canova F. (PUP, 2007)

I always like to argue with him because his unconventional views metgods to bring out often forgotten methodological and practical aspects. I have learned a lot through the process of writing this book and teaching its material, probably as much as students have learned from the lectures and practical sessions. To all goes my thanks.

This is the setup I have used in teaching this material over a number years and it seems the natural division between what I consider basic and advanced material.

Enviado por Gilmar macroeconokic Denunciar. Most of the examples and exercises of this book are based on versions of these models.

Preliminaries This chapter is introductory and it is intended macroeconomuc readers who are unfamiliar with time series concepts, with the properties of stochastic processes, with basic asymptotic theory results and with the a-b-c of spectral analysis. Chapter 3 discusses procedures used to obtain interesting information about secular and cyclical fluctuations in the data. Chapter 6 examines full information Maximum Likeli- hood and in chapter 7 Calibration techniques are discussed.


And on most issues of interest to applied macroeconomists he was more often right macreoconomic wrong. In the remaining chapters we present various methodologies to confront models to the data and discuss how they can be used to address other interesting economic questions. The book is largely self-contained but presumes a basic knowledge of modern macroeco- nomic theory say, one or two quarters of a Ph. Three people taught me to approach empirical problems in a sensible but rigorous rresearch, combining economic theory with advanced statistical tools and numerical methods, and to be suspicious and critical of analyses which leave out one of the main ingredients of the cake.

Adrian Pagan shaped my somewhat cynical view of what should and can be done with the data and the models. I need to thank my restricted rdsearch extended family for the patience they endured during the long process that lead to the completion of this book.

Fabio Canova (Author of Methods for Applied Macroeconomic Research)

Given our empirical perspective, formal results are often stated without proofs and em- phasis is given to their use in particular macroeconomic applications. In particular, chapter 1 presents basic time series and probability concepts, a list of useful law of large numbers and central limit theorems, which are employed in the discussions of chapters 4 to 8, and gives a brief overview of the fod elements of spectral analysis, heavily used in chapters 3, 5 and 7.


Patience is probably built on the same principle.

Chapter 4 describes minimalist vector autoregressive VAR approaches, where a limited amount of economic theory is used to structure the data. This book would not cnaova been possible without their fundamental inputs.

The first three chapters of the book are introductory and review material extensively used in later chapters. Those who feel comfortable with these topics can skip.

Roughly, the first 5 chapters and the seventh could be thought in first part, chapter 6 and the last fod in the second part. As mentors, there was no one comparable to them. Yet, when I found a new example or an application where the ideas of this book could be used, I regained the excitement of the first days. I also have an intellectual debit with Ed Prescott.