Abstract
This chapter reviews the key consumption, investment, international trade, and government spending equations in four of the most notable earlier large-scale models of the economy: Klein and Evans (The Wharton Econometric Forecasting Model. Philadelphia: Wharton School of Finance and Commerce, University of Pennsylvania, 1968), Eckstein (The DRI Model of the U.S. Economy. New York: McGraw-Hill Book Company, 1983), The Federal Reserve (1996), and Fair (Estimating How the Macroeconomy Works. Cambridge, MA: Harvard University Press, 2004).
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsReferences
Brayton, F, and Tinsley, P., ed. (1996). “A Guide to the FRB/US A Macroeconomic Model of the United States”. Division of Research and Statistics, Federal Reserve Board. Version 1.0. Oct. 1996.
Eckstein, O. (1983). The DRI Model of the U.S. Economy. New York: McGraw-Hill Book Company.
Fair, R.C. (2004). Estimating How the Macroeconomy Works. Cambridge, MA: Harvard University Press.
Heim, J. (2007). “How Much Does the Prime Interest Rate Affect U.S. Investment?”. Journal of the Academy of Business and Economics. VII(1). Also available as “Which Interest Rate Should We Use In The “IS” Curve?” Working Paper {\#}0713, Working Papers in Economics, Department of Economics, Rensselaer Polytechnic Institute.
Klein, L., and Evans, M. (1968). The Wharton Econometric Forecasting Model. Philadelphia: Wharton School of Finance and Commerce, University of Pennsylvania.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2017 The Author(s)
About this chapter
Cite this chapter
Heim, J.J. (2017). Literature Review. In: An Econometric Model of the US Economy. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-50681-4_3
Download citation
DOI: https://doi.org/10.1007/978-3-319-50681-4_3
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-319-50680-7
Online ISBN: 978-3-319-50681-4
eBook Packages: Economics and FinanceEconomics and Finance (R0)