Macroeconometrics in a global economy

Article Abstract:

The extent and pace of macroeconometric modeling have increased on a global scale. Countries besides the US are engaging in more modeling activity, and the use of global and multi-country models is increasing. Economists are avoiding the problem of estimating parameters using a single economy by using comparative data from several nations. In addition, economists are studying and modeling how the structure of international economies is affected by globalization.

International aspects, Econometrics, Macroeconomics

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A dynamic economy with costly price adjustments

Article Abstract:

A study was conducted on the costs of price adjustments in a dynamic economy using the general equilibrium model where money supply and productivity are subjected to shocks. Results showed that the money supply and productivity were proportional to the wage rate where single demand largely affect the cost of price adjustment. Also, productivity and monetary shocks affected the equilibrium level.

Public Administration, Government, Models, Price control, Price regulations, Equilibrium (Economics)

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