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Less Developed Countries
Empirical Macroeconometric Modeling
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adjustment aggregate demand aggregate supply aggregate supply schedule analysis approach assumption balance of payments Bank of Guyana bauxite behavior budget capital central bank coefficients consumption context cross products current account balance current account position decline derived domestic credit econometric econometric model economic policy effect elasticity empirical endogenous variables equation equilibrium error exchange rate existing exogenous expenditure exports foreign exchange framework function growth homoscedasticity imbalances impact implications import capacity imported inputs in-sample forecasts income increase indicate inflation interest rate investment issues Keynesian labor lagged macroeconometric modeling macroeconomic Monetarist monetary money supply multiplier null hypothesis output parameter estimates payments position percent level performance period predetermined variables price level private sector problems public sector deficit rational expectations regression relation relationship relatively residual role sample shift significant simulation specific statistical structural supply side theory tion TSLS wage