Modern Macroeconomics and Regional Economic Modeling

19 Pages Posted: 8 Feb 2010

See all articles by Dan S. Rickman

Dan S. Rickman

Oklahoma State University - Stillwater - Department of Economics & Legal Studies in Business

Date Written: 2009-08

Abstract

Despite a history of regional economic models being patterned after their national counterparts, modern macroeconomic methodology has yet to be fully embraced by regional scientists. In this paper, I argue that modern macroeconomic methodology has much to offer the field of regional economic modeling. For one, the empirical strategies used in implementing dynamic stochastic general equilibrium models provide insights into how regional computable general equilibrium models could be better parameterized and empirically verified. In addition, the structural macroeconomic approach more generally could be used to construct structural regional policy analysis models for use as alternatives to traditional regional models.

Suggested Citation

Rickman, Dan S., Modern Macroeconomics and Regional Economic Modeling (2009-08). Journal of Regional Science, Vol. 50, Issue 1, pp. 23-41, February 2010. Available at SSRN: https://ssrn.com/abstract=1547406 or http://dx.doi.org/10.1111/j.1467-9787.2009.00647.x

Dan S. Rickman (Contact Author)

Oklahoma State University - Stillwater - Department of Economics & Legal Studies in Business ( email )

201 Business Building
Stillwater, OK 74078-0555
United States

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