Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
10479067 | Journal of Policy Modeling | 2005 | 25 Pages |
Abstract
The design of macro-models for the purposes of derivation of macroeconomic stabilization policies and obtaining forecasts is an important area of theoretical and empirical economic research. This is because such a stance presents an ideal blend of skillfully interweaving the essential theoretical ingredients of the contemporary macroeconomic paradigms with specific structural features of the country under reference. The use of macro-models enables the policy makers to build alternative policy evidences and thus this approach proves to be far superior to the alternative approaches based on intuitive or judgmental criteria. It is against this background that a macro-model for the Indian economy is estimated in an error-correction framework. Based on it, some policy options are evaluated. ECM and time varying parameter based forecasts are obtained for inflation and growth for the Indian economy for the year 2004-2005.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Balwant Singh,