The Macroeconomic Effects of Fiscal Policy: Linking an Econometric Model with Theory
提出一种“理论解构”方法，通过逐步移除计量经济模型中超出理论模型的复杂元素，再逐步重建，以分析各元素对模型性质的影响，并用英国COMPACT模型和财政政策变化进行演示。
In this paper we outline a method, termed ‘theoretical deconstruction', which allows the system properties of any econometric macromodel to be related to a simpler theoretical model. First, elements of the econometric model which involve significant additional theoretical complexity compared to the theory model are removed. This process continues until the properties of the ‘deconstructed' econometric model match those of the reference theory. Second, the econometric model is gradually reconstructed, noting at each point how each element of additional complexity influences the model properties. The technique is illustrated using fiscal policy changes and the UK econometric model COMPACT.