Full Description
What was the role of economists and economics in the making of the European Union? This book sheds light on the activities of a particular type of economic experts: the macroeconomic modellers of the Directorate General for Economic and Financial Affairs (DG II), who built multi-country macroeconomic models of the European Economic Community. These models aim at studying the macroeconomic interactions between national economies and at providing insights about the effects of coordinating (or not) national economic policies. The book documents the origins, challenges, and progress made by DG II's experts through building these models.
This book provides insight into the influence of multi-country models on modern economics. It will be relevant to students and researchers interested in the history of economic thought and the development of macroeconomic policy.
Contents
1. Macro econometric activities at the SSRC Committee on Economic Stability.- 2. Project Link's distinctive features and aims.- 3. Connecting national modelling teams.- 4. DG II macroeconomics and the integration process.- 5. Centralized versus decentralized approaches to multi-country models.- 6. The 'rise and fall' of Eurolink.- 7. Linking real and financial markets across different countries.- 8. COMPACT and QUEST models.- 9. Modelling the European integration process.- 10. Conclusion.
