Causality in Macroeconomics

Causality in Macroeconomics
Author: Kevin D. Hoover
Publisher: Cambridge University Press
Total Pages: 330
Release: 2001-08-13
Genre: Business & Economics
ISBN: 9780521002882

First published in 2001, Causality in Macroeconomics addresses the long-standing problems of causality while taking macroeconomics seriously. The practical concerns of the macroeconomist and abstract concerns of the philosopher inform each other. Grounded in pragmatic realism, the book rejects the popular idea that macroeconomics requires microfoundations, and argues that the macroeconomy is a set of structures that are best analyzed causally. Ideas originally due to Herbert Simon and the Cowles Commission are refined and generalized to non-linear systems, particularly to the non-linear systems with cross-equation restrictions that are ubiquitous in modern macroeconomic models with rational expectations (with and without regime-switching). These ideas help to clarify philosophical as well as economic issues. The structural approach to causality is then used to evaluate more familiar approaches to causality due to Granger, LeRoy and Glymour, Spirtes, Scheines and Kelly, as well as vector autoregressions, the Lucas critique, and the exogeneity concepts of Engle, Hendry and Richard.

The Methodology of Empirical Macroeconomics

The Methodology of Empirical Macroeconomics
Author: Kevin D. Hoover
Publisher: Cambridge University Press
Total Pages: 204
Release: 2001-10-11
Genre: Business & Economics
ISBN: 9780521003216

The Methodology of Empirical Macroeconomics stakes out a pragmatic middle-ground between traditional, prescriptive economic methodology and recent descriptive (sociological or rhetorical) methodology. The former is sometimes seen as arrogantly telling economists how to do their work and the latter as irrelevant to their practice. The lectures are built around a case study of a concrete example of macroeconomic analysis. They demonstrate that economic methodology and the philosophy of science offer insights that help to resolve the genuine concerns of macroeconomists. Some examples of questions addressed include: What is the relationship between theoretical models and empirical observations? What is the relevance of macroeconomics to policy? Should macroeconomics be viewed as a special case of microeconomics? What is the place of long-standing philosophical issues in macroeconomics, such as the scope and nature of economic laws, the role of idealizations, methodological individualism, and the problem of causality?

The Economics of Artificial Intelligence

The Economics of Artificial Intelligence
Author: Ajay Agrawal
Publisher: University of Chicago Press
Total Pages: 172
Release: 2024-03-05
Genre: Business & Economics
ISBN: 0226833127

A timely investigation of the potential economic effects, both realized and unrealized, of artificial intelligence within the United States healthcare system. In sweeping conversations about the impact of artificial intelligence on many sectors of the economy, healthcare has received relatively little attention. Yet it seems unlikely that an industry that represents nearly one-fifth of the economy could escape the efficiency and cost-driven disruptions of AI. The Economics of Artificial Intelligence: Health Care Challenges brings together contributions from health economists, physicians, philosophers, and scholars in law, public health, and machine learning to identify the primary barriers to entry of AI in the healthcare sector. Across original papers and in wide-ranging responses, the contributors analyze barriers of four types: incentives, management, data availability, and regulation. They also suggest that AI has the potential to improve outcomes and lower costs. Understanding both the benefits of and barriers to AI adoption is essential for designing policies that will affect the evolution of the healthcare system.

Applied Intermediate Macroeconomics

Applied Intermediate Macroeconomics
Author: Kevin D. Hoover
Publisher: Cambridge University Press
Total Pages: 941
Release: 2012
Genre: Business & Economics
ISBN: 0521763886

A complete course in applied macroeconomics at the intermediate level that emphasizes the application of economic theory to real-world data and policy.

Macroeconomics for Professionals

Macroeconomics for Professionals
Author: Leslie Lipschitz
Publisher: Cambridge University Press
Total Pages: 312
Release: 2019-01-23
Genre: Business & Economics
ISBN: 1108568467

Understanding macroeconomic developments and policies in the twenty-first century is daunting: policy-makers face the combined challenges of supporting economic activity and employment, keeping inflation low and risks of financial crises at bay, and navigating the ever-tighter linkages of globalization. Many professionals face demands to evaluate the implications of developments and policies for their business, financial, or public policy decisions. Macroeconomics for Professionals provides a concise, rigorous, yet intuitive framework for assessing a country's macroeconomic outlook and policies. Drawing on years of experience at the International Monetary Fund, Leslie Lipschitz and Susan Schadler have created an operating manual for professional applied economists and all those required to evaluate economic analysis.

Contemporary Methods and Austrian Economics

Contemporary Methods and Austrian Economics
Author: Daniel J. D'Amico
Publisher: Emerald Group Publishing
Total Pages: 131
Release: 2022-01-27
Genre: Business & Economics
ISBN: 1802622896

Contemporary Methods and Austrian Economics, examines the relationship between Austrian economics and these new social scientific methods.

Introduction to Modern Time Series Analysis

Introduction to Modern Time Series Analysis
Author: Gebhard Kirchgässner
Publisher: Springer Science & Business Media
Total Pages: 288
Release: 2008-08-27
Genre: Business & Economics
ISBN: 9783540687351

This book presents modern developments in time series econometrics that are applied to macroeconomic and financial time series. It contains the most important approaches to analyze time series which may be stationary or nonstationary.

Actual Causality

Actual Causality
Author: Joseph Y. Halpern
Publisher: MIT Press
Total Pages: 240
Release: 2016-08-12
Genre: Computers
ISBN: 0262035022

Explores actual causality, and such related notions as degree of responsibility, degree of blame, and causal explanation. The goal is to arrive at a definition of causality that matches our natural language usage and is helpful, for example, to a jury deciding a legal case, a programmer looking for the line of code that cause some software to fail, or an economist trying to determine whether austerity caused a subsequent depression.

Rethinking Macroeconomics with Endogenous Market Structure

Rethinking Macroeconomics with Endogenous Market Structure
Author: Marco Mazzoli
Publisher: Cambridge University Press
Total Pages: 251
Release: 2019-12-19
Genre: Business & Economics
ISBN: 1108482600

"The last decade has seen a lively debate in macroeconomics, with an increasing criticism on the model that seemed to be dominant in literature since the end of the 1990's, the Dynamic Stochastic General Equilibrium (DSGE, hereafter) and, consequently, the birth of some new theoretical approaches and methodologies"--