CONTENTS
List of Figures = ⅶ
List of Tables = ⅹ
List of Contributors = xiii
Foreword = xv
1. The Relevance of Concepts of Long-Run Equilibrium to Macroeconomic Modelling: An Introduction / Colin P. Hargreaves = 1
2. Short-Run Implications of Long-Run Shocks: Lessons from the 1980s and 1990s / Warwick J. McKibbin = 11
3. Effects of Long-Run Demographic Changes in a Multicountry Model / Paul R. Masson = 47
4. On the Analytical Foundations of the Fundamental Equilibrium Exchange Rate / Simon Wren-Lewis = 75
5. Long-Run Concepts in New Zealand Macroeconometric and CGE Models / Viv B. Hall = 95
6. Prospects for the Australian Economy 1989-90 to 2001-02: ORANI-F Projections for the Ecologically Sustainable Development Working Groups / Philip D. Adams ; Peter B. Dixon ; Brian R. Parmenter = 119
7. The Steady-State Properties of a Macroeconometric Model / Chris W. Murphy = 159
8. Forward Unit Root Exchange-Rate Dynamics and the Properties of Large-Scale Macroeconometric Models / Paul G. Fisher ; David S. Turner ; Kenneth F. Wallis = 207
9. An I(2) Cointegration Analysis of the Purchasing Power Parity between Australia and the United States / S ? ren Johansen = 229
10. Long-Run Relations in Australian Monetary Data / Katarina Juselius ; Colin P. Hargreaves = 249
11. The Long-Run Australian Consumption Function Reexamined: an Empirical Exercise in Bayesian Inference / Peter C.B. Phillips = 287
12. Between the Medium and Long Run: Vintages and the NAIRU / Simon Wren-Lewis = 323
13. Risk and the Equilibrium Rate of Growth in a Small Open Economy / Stephen J. Turnovsky = 339
14. Sustainability and Private Sector Foreign Debt / John Pitchford = 367
Author Index = 391
