MacroGrowth

The R package MacroGrowth provides sophisticated tools for fitting macroeconomic growth models to data. MacroGrowth has several desirable features for macroeconomic modelers:

  • Functions that fit several different macroeconomic growth models.
  • Functions fit along boundaries of the economically-meaningful region, thereby ensuring that the best possible fit is found.
  • Options to perform residual resampling, thereby providing a way to assess the variability of estimated parameters.
  • A consistent formula-based interface to fitting functions.

The functions in this package were developed for and used first in Heun et al. (2017).

Installation

You can install MacroGrowth from github with:

# install devtools if not already installed
# install.packages("devtools")
devtools::install_github("EconModels/MacroGrowth")
# To build vignettes locally, use
devtools::install_github("EconModels/MacroGrowth", build_vignettes = TRUE)

More Information

Find more information, including vignettes and function documentation at https://econmodels.github.io/MacroGrowth/

References

Heun, Matthew K., João Santos, Paul E. Brockway, Randall J. Pruim, Tiago Domingos, and Marco Sakai. 2017. “From Theory to Econometrics to Energy Policy: Cautionary Tales for Policymaking Using Aggregate Production Functions.” Energies 10 (203): 1–44. doi:10.3390/en10020203.