Micro Data and General Equilibrium Models

Research output: Chapter in Book/Report/Conference proceeding › Report chapter › Research

Standard

Micro Data and General Equilibrium Models. / Browning, Martin; Hansen, Lars Peter; Heckman, James J.

Handbook of Macroeconomics. ed. / John B. Taylor; Michael Woodford. Vol. 1A Boston : Elsevier, 1999. p. 543-633.

Research output: Chapter in Book/Report/Conference proceeding › Report chapter › Research

Harvard

Browning, M, Hansen, LP & Heckman, JJ 1999, Micro Data and General Equilibrium Models. in JB Taylor & M Woodford (eds), Handbook of Macroeconomics. vol. 1A, Elsevier, Boston, pp. 543-633. https://doi.org/10.1016/S1574-0048(99)01011-3

APA

Browning, M., Hansen, L. P., & Heckman, J. J. (1999). Micro Data and General Equilibrium Models. In J. B. Taylor, & M. Woodford (Eds.), Handbook of Macroeconomics (Vol. 1A, pp. 543-633). Elsevier. https://doi.org/10.1016/S1574-0048(99)01011-3

Vancouver

Browning M, Hansen LP, Heckman JJ. Micro Data and General Equilibrium Models. In Taylor JB, Woodford M, editors, Handbook of Macroeconomics. Vol. 1A. Boston: Elsevier. 1999. p. 543-633 https://doi.org/10.1016/S1574-0048(99)01011-3

Author

Browning, Martin ; Hansen, Lars Peter ; Heckman, James J. / Micro Data and General Equilibrium Models. Handbook of Macroeconomics. editor / John B. Taylor ; Michael Woodford. Vol. 1A Boston : Elsevier, 1999. pp. 543-633

Bibtex

@inbook{94856b8074c611dbbee902004c4f4f50,
title = "Micro Data and General Equilibrium Models",
abstract = "Dynamic general equilibrium models are required to evaluate policies applied at the national level. To use these models to make quantitative forecasts requires knowledge of an extensive array of parameter values for the economy at large. This essay describes the parameters required for different economic models, assesses the discordance between the macromodels used in policy evaluation and the microeconomic models used to generate the empirical evidence. For concreteness, we focus on two general equilibrium models: the stochastic growth model extended to include some forms of heterogeneity and the overlapping generations model enriched to accommodate human capital formation",
author = "Martin Browning and Hansen, {Lars Peter} and Heckman, {James J.}",
note = "JEL Classification: D1, C10, D58",
year = "1999",
doi = "10.1016/S1574-0048(99)01011-3",
language = "English",
isbn = "0444501568",
volume = "1A",
pages = "543--633",
editor = "Taylor, {John B.} and Michael Woodford",
booktitle = "Handbook of Macroeconomics",
publisher = "Elsevier",
address = "Netherlands",

}

RIS

TY - GEN

T1 - Micro Data and General Equilibrium Models

AU - Browning, Martin

AU - Hansen, Lars Peter

AU - Heckman, James J.

N1 - JEL Classification: D1, C10, D58

PY - 1999

Y1 - 1999

N2 - Dynamic general equilibrium models are required to evaluate policies applied at the national level. To use these models to make quantitative forecasts requires knowledge of an extensive array of parameter values for the economy at large. This essay describes the parameters required for different economic models, assesses the discordance between the macromodels used in policy evaluation and the microeconomic models used to generate the empirical evidence. For concreteness, we focus on two general equilibrium models: the stochastic growth model extended to include some forms of heterogeneity and the overlapping generations model enriched to accommodate human capital formation

AB - Dynamic general equilibrium models are required to evaluate policies applied at the national level. To use these models to make quantitative forecasts requires knowledge of an extensive array of parameter values for the economy at large. This essay describes the parameters required for different economic models, assesses the discordance between the macromodels used in policy evaluation and the microeconomic models used to generate the empirical evidence. For concreteness, we focus on two general equilibrium models: the stochastic growth model extended to include some forms of heterogeneity and the overlapping generations model enriched to accommodate human capital formation

U2 - 10.1016/S1574-0048(99)01011-3

DO - 10.1016/S1574-0048(99)01011-3

M3 - Report chapter

SN - 0444501568

VL - 1A

SP - 543

EP - 633

BT - Handbook of Macroeconomics

A2 - Taylor, John B.

A2 - Woodford, Michael

PB - Elsevier

CY - Boston

ER -

ID: 153406