Current Search: Income--Mathematical models (x)
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Title
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ALTERNATIVE INCOME SPECIFICATION IN MACROECONOMIC MODELS.
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Creator
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MELEAR, ERIK LAMONT., Florida Atlantic University, Hemley, David D., College of Business, Department of Economics
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Abstract/Description
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This thesis emphasizes and evaluates the effect of different income specifications, absolute, relative and permanent, in the various stochastic equations comprising a macroeconomic model. Multiple least squares regression is employed to estimate the stochastic equations; and a dynamic multiplier simulation program evaluates the stability and calculates the impact and interim dynamic multipliers of each resultant model. The results point to an absolute income specification with the quickest...
Show moreThis thesis emphasizes and evaluates the effect of different income specifications, absolute, relative and permanent, in the various stochastic equations comprising a macroeconomic model. Multiple least squares regression is employed to estimate the stochastic equations; and a dynamic multiplier simulation program evaluates the stability and calculates the impact and interim dynamic multipliers of each resultant model. The results point to an absolute income specification with the quickest response to fiscal and monetary policy. In addition, there are inherent specification problems as enlightened by review of the size of the total impact multipliers.
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Date Issued
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1975
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PURL
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http://purl.flvc.org/fcla/dt/13736
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Subject Headings
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Income--Mathematical models
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Format
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Document (PDF)
