<P>Testing Macroeconometric Models
Ray C. Fair</P>
<P>Harvard University Press
Cambridge, Massachusetts
London, England
1994</P>
<P>This book brings together my macroeconometric research of roughly the last
decade. It is a sequel to my previous book, Fair (1984), which brought together
my macroeconometric research through the early 1980s. It presents the current
version of my multicountry econometric model, including my U.S. model, and
it discusses and applies various econometric techniques to it. All the empirical
work using the model has been updated for this book.
I have indicated in a footnote at the beginning of each relevant section the
article upon which the material in the section is based. Some of the articles
are joint. The coauthors are DonaldW. K. Andrews, Kathryn M. Dominguez,
William R. Parke, Robert J. Shiller, and John B. Taylor. Some of the work is
new for this book and has not been published elsewhere.
Chapter 1 gives a general view of where I think my work fits into the literature.
It is a rallying cry for the Cowles Commission approach, an approach
I feel too many academic researchers abandoned in the 1970s. This book is
in large part an application of the Cowles Commission approach to current
macro data, with particular emphasis on testing.</P>