Information Limits of Aggregate Data

51 Pages Posted: 14 Jul 2015

See all articles by Ray C. Fair

Ray C. Fair

Yale University - Cowles Foundation; Yale School of Management - International Center for Finance

Date Written: July 13, 2015

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

Suggested Citation

Fair, Ray C., Information Limits of Aggregate Data (July 13, 2015). Cowles Foundation Discussion Paper No. 2011. Available at SSRN: https://ssrn.com/abstract=2630240 or http://dx.doi.org/10.2139/ssrn.2630240

Ray C. Fair (Contact Author)

Yale University - Cowles Foundation ( email )

Box 208281
New Haven, CT 06520-8281
United States
203-432-3715 (Phone)
203-432-6167 (Fax)

HOME PAGE: http://fairmodel.econ.yale.edu

Yale School of Management - International Center for Finance ( email )

Box 208200
New Haven, CT 06520
United States
203-432-3715 (Phone)
203-432-6167 (Fax)

HOME PAGE: http://fairmodel.econ.yale.edu

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