What type of models did Jan Tinbergen develop?
Macroeconometric models
Microeconomic models
Behavioral models
Game theory models
Answer
Macroeconometric models, developed by Jan Tinbergen, are mathematical representations of an economy that combine economic theory with statistical data. These models allow economists to simulate the effects of different economic policies and forecast future economic outcomes. Tinbergen's models were instrumental in the development of modern macroeconomic policy and earned him the first Nobel Prize in Economics in 1969.
Tinbergen Trivia: Unraveling the Genius of a Dutch Economist
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