Journal article icon

Journal article

Exogeneity, Causality, and Co-breaking in Economic Policy Analysis of a Small Econometric Model of Money in the UK.

Abstract:

Since the objective of economic policy is to change target variables in the DGP, when economic policy analysis uses an econometric model, it is important that the model delivers reliable inferences about policy responses in the DGP. This requires that the model be congruent and encompassing, and hence exogeneity, causality, cointegration, co-breaking, and invariance all play major roles. We discuss these roles in linear cointegrated VARs, prior to illustrating their importance in a bivariate ...

Expand abstract

Actions


Authors


Journal:
Empirical Economics
Volume:
23
Publication date:
1998-01-01
ISSN:
0377-7332
Language:
English
UUID:
uuid:1b0a735c-0281-4461-b2c5-cda77f4a1f13
Local pid:
oai:economics.ouls.ox.ac.uk:10655
Deposit date:
2011-08-16

Terms of use


Views and Downloads






If you are the owner of this record, you can report an update to it here: Report update to this record

TO TOP