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Fair, Ray C.

Overview
Works: 200 works in 723 publications in 3 languages and 8,290 library holdings
Genres: Examinations, questions, etc 
Roles: Creator
Classifications: HB172.5, 339
Publication Timeline
Key
Publications about Ray C Fair
Publications by Ray C Fair
Most widely held works by Ray C Fair
Principles of economics by Karl E Case( Book )
236 editions published between 1989 and 2014 in 3 languages and held by 2,635 libraries worldwide
This student-friendly text takes a hands-on approach to economic theory, issues and politics using a lively writing style which engages the student with clear explanations, easy to understand graphs and relevant examples
Estimating how the macroeconomy works by Ray C Fair( file )
10 editions published in 2004 in English and held by 1,171 libraries worldwide
Predicting presidential elections and other things by Ray C Fair( Book )
12 editions published between 2002 and 2012 in English and held by 873 libraries worldwide
Ray C. Fair has found that the state of the economy has a key influence on national elections. Just in time for the 2012 presidential election, this new edition of his classic text provides us with a look into the likely future of our nation;s political landscape--but Fair doesn't stop there. He covers topics well beyond today's headlines. Which of your friends is most likely to have an extramarital affair? How important is class attendance for academic performance in college? How fast can you expect to run a race at age 55, given your time at 30? Read Predicting Presidential Elections and Other Things and find out!
Specification, estimation, and analysis of macroeconometric models by Ray C Fair( Book )
11 editions published in 1984 in English and Undetermined and held by 488 libraries worldwide
A short-run forecasting model of the United States economy by Ray C Fair( Book )
10 editions published between 1971 and 1972 in English and held by 466 libraries worldwide
A model of macroeconomic activity by Ray C Fair( Book )
11 editions published between 1974 and 1976 in English and held by 365 libraries worldwide
Testing macroeconometric models by Ray C Fair( Book )
7 editions published between 1993 and 1994 in English and held by 358 libraries worldwide
In this book Ray Fair expounds powerful techniques for estimating and analyzing macroeconometric models. He takes advantage of the remarkable decrease in computational costs that has occurred since the early 1980s by implementing such sophisticated techniques as stochastic simulation. Testing Macroeconometric Models also incorporates the assumption of rational expectations in the estimation, solution, and testing of the models. And it presents the latest versions of Fair's models of the economies of the United States and other countries. After estimating and testing the U.S. model, Fair analyzes its properties - including those relevant to economic policymakers: the optimal monetary policy instrument, the effect of a government spending reduction on the government deficit, whether monetary policy is becoming less effective over time, and the sensitivity of policy effects to the assumption of rational expectations. Ray Fair has conducted research on structural macroeconometric models for more than twenty years. With interest increasing in the area, this book will be an essential reference for macroeconomists
The short-run demand for workers and hours by Ray C Fair( Book )
11 editions published in 1969 in English and held by 327 libraries worldwide
Principios de microeconomía by Karl E Case( Book )
9 editions published between 1997 and 2012 in Spanish and held by 85 libraries worldwide
The Cowles Commission approach, real business cycle theories, and new Keynesian economics by Ray C Fair( Book )
5 editions published in 1992 in English and held by 54 libraries worldwide
The Cowles Commission approach is reviewed and compared to the approaches of real business cycle (RBC) theorists and new Keynesian economists. It is argued that RBC models are not tested in a serious enough way and that the new Keynesian literature is not empirical enough for testing even to be a serious possibility. Macroeconomics seems to be moving away from its traditional empirical basis, which is sad. This paper argues for returning to the path that was abandoned by most macroeconomists around 1970, namely the specification and testing of structural macroeconometric models
How fast do old men slow down? by Ray C Fair( Book )
8 editions published between 1991 and 1994 in English and Undetermined and held by 50 libraries worldwide
This study uses data on men's track and field and road racing records by age to estimate the rate at which men slow down with age. For most of the running events (400 meters through the half marathon), the slowdown rate per year is estimated to be .80 percent between ages 35 and 51. At age 51 the rate begins to increase. It is 1.04 percent at age 60, 1.46 percent at age 75, and 2.01 percent at age 95. The slowdown rate is smaller for 100 meters. For the events longer than the half marathon, the rate is smaller through about age 60 and then larger after that. The slowdown rate is generally larger at all ages for the field events. Table 2 shows that the age-factors in Masters Age-Graded Tables are excessively variable and biased against older runners. Tables 3 and 5 present the age-factors implied by this study. These tables can be used to estimate one's projected time or distance by age. They can also be used by race officials for age-graded events. A brief comparison of the present results to results in the physiological literature is also presented in this paper. The main estimation technique used is a combination of the polynomialspline method and the frontier-function method. A number of the events have been pooled to provide more efficient estimates
Estimation of polynomial distributed lags and leads with end point constraints by Donald W. K Andrews( Book )
6 editions published in 1989 in English and held by 49 libraries worldwide
This paper considers the use of the polynomial distributed lag (PDL) technique when the lag length is estimated rather than fixed. We focus on the case where the degree of the polynomial is fixed, the polynomial is constrained to be zero at a certain lag length q, and q is estimated along with the other parameters. We extend the traditional PDL setup by allowing q to be real-valued rather than integer-valued, and we derive the asymptotic covariance matrix of all the parameter estimates, including the estimate of q. The paper also considers the estimation of distributed leads rather than lags, a case that can arise if expectations are assumed to be rational
Full information estimation and stochastic simulation of models with rational expectations by Ray C Fair( Book )
7 editions published between 1989 and 1991 in English and held by 47 libraries worldwide
A computationally feasible method for the full information maximum likelihood estimation of models with rational expectations is described in this paper. The stochastic simulation of such models is also described. The methods discussed in this paper should open the way for many more tests of the rational expectations hypothesis within macroeconometric models
Inflationary expectations and price setting behavior by Ray C Fair( Book )
6 editions published in 1989 in English and held by 45 libraries worldwide
Abstract: The results strongly support the hypothesis that aggregate price
Does monetary policy matter? : narrative versus structural approaches by Ray C Fair( Book )
5 editions published in 1989 in English and Undetermined and held by 44 libraries worldwide
Abstract: are advanced in the paper as to why this might be so
The production smoothing model is alive and well by Ray C Fair( Book )
6 editions published between 1989 and 1990 in English and held by 42 libraries worldwide
Monthly data in physical units for seven industries are used to examine the production smoothing hypothesis. The results strongly support this hypothesis. Significant effects of expected future sales on current production are found for four industries, and the estimated decision equations for all seven industries imply production smoothing behavior. The previous negative results regarding the hypothesis appear to be due to the use of poor data, particularly the shipments and inventory data of the Department of Commerce
Interest rate and exchange rate determination by Ray C Fair( Book )
6 editions published in 1986 in English and held by 39 libraries worldwide
Since Meese and Rogoff's (1983) results, the view has become fairly widespread that structural models of exchange rates are not very good. There is, however, somewhat of a dichotomy in the literature between those who deal with small models, where the focus is almost exclusively on exchange rates, and those who deal with large macroeconometric models, where exchange rates make up only a small subset of the endogenous variables. Most of the emphasis has been on the first approach, and it may be that exchange rate determination within the context of large models has not been given a sufficient hearing. Exchange rate and interest rate equations are estimated and analyzed for 17 countries in this paper. This study is part of a larger project of constructing a multicountry econometric model. One of the aims of the paper is to see if the exchange rate equations that are part of my multicountry model also suffer from the Meese and Rogoff criticism. The results show that the view that structural exchange rate models are not very good may be too pessimistic
Effects of the changing U.S. age distribution on macroeconomic equations by Ray C Fair( Book )
6 editions published between 1987 and 1992 in English and held by 39 libraries worldwide
The effects of the changing U.S. age distribution on various macroeconomic equations are examined in this paper. The equations include consumption, money demand, housing investment, and labor force participation equations. Seven age groups are analyzed: 16-19, 20-24, 25-29, 30-39, 40- 54, 55-64, and 65+. There seems to be enough variance in the age distribution data to allow reasonably precise estimates of the effects of a number of age categories on the macro variables. The results show that, other things being equal, age groups 30-39 and 40-54 consume less than average, invest less in housing than average, and demand more money than average. Age group 55-64 consumes more and demands more money. If these estimates are right, they imply, other things being equal, that consumption and housing investment will be negatively affected in the future as more and more baby boomers enter the 30-54 age group. The demand for money will be positively affected. If, as Easterlin argues, the average wage that an age group faces is negatively affected by the percent of the population in that group, then the labor force participation rate of a group should depend on the relative size of the group. If the substitution effect dominates, people in a large group should work less than average, and if the income effect dominates, they should work more than average. The results indicate that the substitution effect dominates for women 25-54 and that the income effect dominates for men 25-54
VAR models as structural approximations by Ray C Fair( Book )
6 editions published between 1988 and 1989 in English and Undetermined and held by 39 libraries worldwide
This paper presents a way of estimating how accurate VAR models are likely to be for answering structural questions. Data are generated from a dynamic deterministic solution of a structural model; a VAR model is estimated using a subset of these data; and the properties of the VAR model are compared to the properties of the structural model. This procedure has the advantage of eliminating the effects of error terms, since the data are generated from a deterministic simulation. The results show that the VAR models do not seem to be good structural approximations
The informational content of ex ante forecasts by Ray C Fair( Book )
6 editions published between 1988 and 1989 in English and held by 39 libraries worldwide
The informational content of different forecasts can be compared by regressing the actual change in a variable to be forecasted on forecasts of the change. We use the procedure in Fair and Shiller (1987) to examine the informational content of three sets of ex ant. forecasts: the American Statistical Association and National Bureau of Economic Research Survey (ASA), Data Resources Incorporated (DRI), and Wharton Economic Forecasting Associates (UEFA). We compare these forecasts to each other and to "quasi ex ante" forecasts generated from a vector autoregressive model, an autoregressive components model, and a large-scale structural model (the Fair model)
 
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Alternative Names
Fair, R. C
Fair, R. C. 1942-
Fair, Ray C.
Languages
English (367)
Spanish (9)
Chinese (1)
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