CFDP 2011
Information Limits of Aggregate Data
Author(s):Publication Date: July 2015
Pages: 50
Abstract:
This paper uses a small model in the Cowles Commission (CC) tradition to examine the limits of aggregate data. It argues that more can be learned about the macroeconomy following the CC approach than the reduced form and VAR approaches allow, but less than the DSGE approach tries to do.
Keywords:
Aggregate data, Macro models