St. Louis models of the Uk economy

K. G.P. Matthews, P. A. Ormerod

Research output: Journal PublicationArticlepeer-review

2 Citations (Scopus)

Abstract

In contrast to an earlier article in the Review by Artis and Nobay (no. 49, August 1969), this paper obtains equations for the UK similar to those of the Federal Reserve Bank of St. Louis for the US economy. Such equations have strong monetarist policy implications. However, quite apart from the substantial criticism in the economic literature of the theoretical and methodological basis of such equations, the paper shows that the apparently well-specified equations obtained are very sensitive to the choice of explanatory variables. Thus even on purely empirical grounds, St. Louis models can have little relevance for the UK.

Original languageEnglish
Pages (from-to)65-69
Number of pages5
JournalNational Institute Economic Review
Volume84
Issue number1
DOIs
Publication statusPublished - May 1978
Externally publishedYes

ASJC Scopus subject areas

  • Economics, Econometrics and Finance (all)

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