Time stepping of macroeconomic models

摘要

Macroeconomic models in which several structural equations, comprising exogenous or independent and endogenous or dependent variables, are one of the most important tools of quantitative economics (econometrics). In such models some of the dependent variables are lagged, that is, their values at a previous time are included in the model. In the present paper a simple approach to the `time stepping' that this allows us is described.