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dc.contributor.authorMøller, Niels Framrozeen_US
dc.date.accessioned2009-01-28T15:05:26Z-
dc.date.available2009-01-28T15:05:26Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/17993-
dc.description.abstractExamples of simple economic theory models are analyzed as restrictions on the Cointegrated VAR (CVAR). This establishes a correspondence between basic economic concepts and the econometric concepts of the CVAR: The economic relations correspond to cointegrating vectors and exogeneity in the economic model implies the econometric concept of strong exogeneity for â. The economic equilibrium corresponds to the so-called long-run value (Johansen 2005), the comparative statics are captured by the long-run impact matrix, C; and the exogenous variables are the common trends. Also, the adjustment parameters of the CVAR are shown to be interpretable in terms of expectations formation, market clearing, nominal rigidities, etc. The general-partial equilibrium distinction is also discussed.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kiel-
dc.relation.ispartofseriesEconomics Discussion Papers / Institut für Weltwirtschaft 2008-21en_US
dc.subject.jelC32en_US
dc.subject.ddc330en_US
dc.subject.keywordCointegrated VARen_US
dc.subject.keywordunit root approximationen_US
dc.subject.keywordeconomic theory modelsen_US
dc.subject.keywordexpectationsen_US
dc.subject.keywordgeneral equilibriumen_US
dc.subject.keywordDSGE modelsen_US
dc.subject.stwVAR-Modellen_US
dc.subject.stwKointegrationen_US
dc.subject.stwWirtschaftsmodellen_US
dc.subject.stwAllgemeines Gleichgewichten_US
dc.titleBridging Economic Theory Models and the Cointegrated Vector Autoregressive Modelen_US
dc.typeWorking Paperen_US
dc.identifier.ppn566317826en_US
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.en-
dc.identifier.repecRePEc:zbw:ifwedp:7283-
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