Macroeconometric models
The book is a tremendous survey of macroeconometric modeling. The author (a recognized master in this field) has captured all periods of development of this tool of the analysis and forecasting of economic dynamics since the 30s of the last century up to now. The survey contains twenty-one chapters divided into two parts. Part I, ``The history in outline'', presents a history of the developing of macroeconomic models for industrial and developing countries. With regard to the multiplicity of models created during the last decades, the author was limited in his choice. ``The key criterion for accepting a model was whether its history of continuous utilization was successfully long and whether it had a serious impact on the model building activities.'' The model presentation in the first part is descriptive. Part II, ``The structure of macroeconometric models'', is methodical. Its chapters present formally main classes of macromodels: the household and enterprise sector, equilibria and disequilibria, financial flows, money and capital markets. The last chapter deals with ``Prospects of macroeconometric modeling''.
scientific article; zbMATH DE number 6107101