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Review of the Dynamic macroeconomic theory, by T.J. Sargent
(1987)
Describes the general equilibrium models that have been built to help interpret time series observations of economic aggregates and predicts the consequence of alternative government interventions.
Constructing the true cost of living index from the Engel curves of the PIGLOG model
(1989)
This paper investigates the properties of the Tornqvist index and shows how this can be used to construct a true cost of living index from a simple system of Engel curves. This allows the substitution bias inherent in a ...