Publisher's Synopsis
Macroeconomic models are increasingly used to evaluate alternative economic policies, as was clearly in evidence during the 1987 General Election campaign. Important aspects of policy analysis are studied in this book on the seven major models of the UK economy, and in particular the trade-off between inflation and unemployment is described, using simulation analysis and optimal control techniques. The book continues the systematic reporting on the behaviour and performance of the current versions of the economic models, as established in the earlier review volumes. The models are those of the National Institute of Economic and Social Research, the Treasury, the Bank of England, the Cambridge Growth Project, the City University Business School, and the Liverpool University Research Group in Macroeconomics.;Advanced students taking courses in macroeconomics, applied econometrics, economic policy, labour economics, and the UK economy, and professional economists in these fields.
