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dc.contributor.authorMøller, Niels Framrozeen_US
dc.date.accessioned2009-08-12T07:17:05Z-
dc.date.available2009-08-12T07:17:05Z-
dc.date.issued2008en_US
dc.identifier.citationEconomics: The Open-Access, Open-Assessment E-Journal 2 2008-36 1-29 doi:10.5018/economics-ejournal.ja.2008-36-
dc.identifier.pidoi:10.5018/economics-ejournal.ja.2008-36-
dc.identifier.urihttp://hdl.handle.net/10419/27520-
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 is related to econometric concepts of exogeneity. The economic equilibrium corresponds to the so-called long-run value (Johansen 2005), the long-run impact matrix, C; captures the comparative statics and the exogenous variables are the common trends. The adjustment parameters of the CVAR are related to expectations formation, market clearing, nominal rigidities, etc. Finally, the general-partial equilibrium distinction is analyzed.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofserieseconomics - The Open-Access, Open-Assessment E-Journal 2008-36en_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.keywordHybrid New Keynesian Phillips Curveen_US
dc.subject.keywordgeneral equilibriumen_US
dc.subject.stwVAR-Modellen_US
dc.subject.stwKointegrationen_US
dc.subject.stwUnit Root Testen_US
dc.subject.stwWirtschaftsmodellen_US
dc.subject.stwNew-Keynesian Phillips Curveen_US
dc.subject.stwAllgemeines Gleichgewichten_US
dc.subject.stwTheorieen_US
dc.titleBridging Economic Theory Models and the Cointegrated Vector Autoregressive Modelen_US
dc.typeArticleen_US
dc.identifier.ppn58815637Xen_US
dc.identifier.urlhttp://www.economics-ejournal.org/economics/journalarticles/2008-36-
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.en-
dc.identifier.repecRePEc:zbw:ifweej:7460-
Appears in Collections:Economics: The Open-Access, Open-Assessment E-Journal - Journal Articles

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