Abstract
This chapter lists variables found to be determinants of the level of consumer and investment goods produced. It summarizes some flaws with DSGE and VAR models that other economists have discovered, and discusses why science (empirical testing) is a better tool for finding out what works than deductions from philosophy (theory). It also summarizes a large number of ways the model improves on past studies. This part also provides a 14-page summary listing of the statistical models and their test results.
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Heim, J.J. (2017). Introduction. In: An Econometric Model of the US Economy. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-50681-4_1
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DOI: https://doi.org/10.1007/978-3-319-50681-4_1
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