Topics in Applied MacroeconomicsDavid F. Heathfield |
Other editions - View all
Common terms and phrases
adjustment aggregate analysis approach assets assumed assumption b₁ behaviour C₁ capital stock cent changes Cobb-Douglas coefficients commodity consumer consumption function cost demand for money demand function dependent variable determined discouraged-worker discussed distributed lag durables Durbin-Watson statistic econometric Econometrica effect empirical endogenous equation equilibrium level error term example exogenous variables expected value expenditure exports F-distribution factor firm forecast Friedman hypothesis implies important increase industries inputs interest elasticity interest rate inventory investment Jorgenson Keynesian labour force labour-force participation least-squares estimates level of stocks linear macroeconomic monetary money stock observations obtain ordinary least squares output parameters partial-adjustment participation rates period permanent income predict problem procedure production function random variable rate of interest ratio regression relationship returns to scale Review of Economic serial correlation statistical stockbuilding structural studies supply functions theoretical theory tion trade unbiased unemployment United Kingdom variance wealth Y₁ zero