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dc.contributor.authorMøller, Niels Framrozeen
dc.date.accessioned2009-08-12T07:17:05Z-
dc.date.available2009-08-12T07:17:05Z-
dc.date.issued2008-
dc.identifier.citation|aEconomics: The Open-Access, Open-Assessment E-Journal|c1864-6042|v2|h2008-36|nKiel Institute for the World Economy (IfW)|lKiel|y2008|p1-29en
dc.identifier.pidoi:10.5018/economics-ejournal.ja.2008-36en
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
dc.language.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
dc.subject.jelC32en
dc.subject.ddc330en
dc.subject.keywordCointegrated VARen
dc.subject.keywordunit root approximationen
dc.subject.keywordeconomic theory modelsen
dc.subject.keywordexpectationsen
dc.subject.keywordHybrid New Keynesian Phillips Curveen
dc.subject.keywordgeneral equilibriumen
dc.subject.stwVAR-Modellen
dc.subject.stwKointegrationen
dc.subject.stwUnit Root Testen
dc.subject.stwWirtschaftsmodellen
dc.subject.stwNew-Keynesian Phillips Curveen
dc.subject.stwAllgemeines Gleichgewichten
dc.subject.stwTheorieen
dc.titleBridging Economic Theory Models and the Cointegrated Vector Autoregressive Model-
dc.typeArticleen
dc.identifier.ppn58815637Xen
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.enen
dc.identifier.repecRePEc:zbw:ifweej:7460en
econstor.citation.journaltitleEconomics: The Open-Access, Open-Assessment E-Journalen
econstor.citation.issn1864-6042en
econstor.citation.volume2en
econstor.citation.issue2008-36en
econstor.citation.publisherKiel Institute for the World Economy (IfW)en
econstor.citation.publisherplaceKielen
econstor.citation.year2008en
econstor.citation.startpage1en
econstor.citation.endpage29en

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