ABSTRACT

Economics is dominated by model building, therefore a comprehension of how such models work is vital to understanding the discipline. This book provides a critical analysis of the economist's favourite tool, and as such will be an enlightening read for some, and an intriguing one for others.

chapter 1|3 pages

Introduction

part |1 pages

The process of model building

chapter |69 pages

Case 1: Kalecki’s business-cycle model

chapter 4|28 pages

Design of experiments

chapter 7|4 pages

Conclusions

chapter 5|23 pages

Measurement

chapter |10 pages

Appendix 1 Output–inflation tradeoffs

part |2 pages

Appendix 2 Filters

chapter |8 pages

The Hodrick–Prescott filter

chapter 6|26 pages

Rigour

chapter 7|6 pages

Conclusions

chapter |5 pages

Notes

chapter 6|1 pages

Rigour