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Modern Econo (METRIC) Modelling For Developing Economics 3

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100 in stock

Indeed econometrics has come of age and it has produced a solid body of theory and host of applications in both economics and allied sciences. Consequently, this volume III is design to fill the vacuum that existed in the previously published volume I and II. Structural break models, regime switching models, dynamic stochastic general equilibrium models (DSGE) and Agent based-Computations Economics (ACE) are the major focus of this book.

100 in stock

Product Description

Modern Econo (METRIC) Modelling For Developing Economics 3

ISBN: 978-978-35424-4-0

Indeed econometrics has come of age and it has produced a solid body of theory and host of applications in both economics and allied sciences. Consequently, this volume III is design to fill the vacuum that existed in the previously published volume I and II. Structural break models, regime switching models, dynamic stochastic general equilibrium models (DSGE) and Agent based-Computations Economics (ACE) are the major focus of this book.
In order for the concepts of cointegration to retain significant, empirical works will have to incorporate regime switching (structural breaks) models as appropriate, within vector autoregressive modeling (VAR) framework.
Again, recent vintage of DSGE models is emerging as a useful tool for forecasting and quantitative policy analysis as well as gaining credibility in policy making institutions. Thus, the DSGE-VAR integrated modeling framework explored. However, economies are complicated system encompassing micro behaviours, interaction, collective learning and possibility of multiple equilibra.
This book therefore (among other objectives) explores the consequences of adopting Agent-Base Computational Economics (ACE) for the modeling of African economies.

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