Computational Macroeconomics for the Open Economy
By G.C. Lim and Paul D. McNelis
2008, 248 pages, ISBN-10: 0-262-12306-, ISBN-13: 978-0-262-12306-8
Policy makers need quantitative as well as qualitative answers to pressing policy questions. Because of advances in computational methods, quantitative estimates are now derived from coherent nonlinear dynamic macroeconomic models embodying measures of risk and calibrated to capture specific characteristics of real-world situations. This text shows how such models can be made accessible and operational for confronting policy issues.