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The structure and uses of macro econometric models
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actual adjustment aggregate anticipations data appear in table approach assumed assumption average Ball and Drake Barten Belsley budget shares capital stock CD function chapter coefficients consider constant constraints consumer consumption function decision deflated demand functions derived distributed lag disturbance terms Duesenberry econometric econometricians economic effect Eisner elasticity of substitution Engel curve equation estimates exogenous variables factors firm forecasts func Griliches hence Houthakker implies income elasticities income hypothesis industries inputs investment involves Jorgenson labour least squares level of inventories linear expenditure system macro manufacturing Modigliani Naive model Neoclassical non-durables ordinary least squares output parameters period permanent income permanent income hypothesis priori problems production function ratio regression relative prices returns to scale sample season serial correlation statistical stems stochastic term suggests technical progress theory tion unfilled orders utility function variance-covariance matrix wealth zero