Home » Multisector Growth Models: Theory and Application by Terry L. Roe
Multisector Growth Models: Theory and Application Terry L. Roe

Multisector Growth Models: Theory and Application

Terry L. Roe

Published October 13th 2009
ISBN : 9780387773575
Hardcover
329 pages
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 About the Book 

The primary objective of this book is to advance the state of the art in specifying and ?tting to data structural multi-sector dynamic macroeconomic models, and empirically implementing them. The fundamental construct upon which we build is theMoreThe primary objective of this book is to advance the state of the art in specifying and ?tting to data structural multi-sector dynamic macroeconomic models, and empirically implementing them. The fundamental construct upon which we build is the Ramsey model. A most attractive feature of this model is the insights it provides into the dynamics of an economy in tr- sition to long-run equilibrium. With some exceptions, Ramsey models are highly aggregated typically single sector models. However, interest often lies in understanding the forces of e- nomic growth across multiple sectors of an economy and on how policy impacts likely play out over time. Such analyses call for moredisaggregatedmodelsthatcanbe?ttocountryorregional data.Thisbookshowshowto: (i)extendthebasicmodeltom- tiple sectors, (ii) how to adapt the basic model to account for policy instruments, and (iii) t the model to data, and obtain equilibrium values both forward and backward in time from the data points to which the model is initially ?t.