1 Part I: Introduction

1 Why This Book?

2 Macro Data

3 The Econometrics

4 Part II: The US Model

4 Specification and Estimation of the US Model

5 Constructed Variables

6 Identities

7 Exogenous Variables

8 Solution

9 Part III: Analysis of the US Model

9 Size of Wealth Effects

10 Size of Fed’s Effect on Output, Unemployment, and Inflation

11 Changes in Fed’s Behavior Since 2008

12 Effects of Inflation Shocks

13 Size of Government Spending Multipliers

14 Okun’s Law

15 Explaining Contractions and Expansions

16 Part IV: Models with Rational Expectations–optional.

17 Part V: Multicountry Econometric Models–optional

18 Part VI: Further Material–optional

19 Appendix

20 References