The Brookings Model: Some Further Results

3PLS actual aggregate annual ANWC autocorrelation bank behavior bill rate billions of dollars Brookings model capital CDTPIR cent changes coefficients column construction consumer instalment credit conversion matrix corporate profits credit terms current dollars demand deposits dependent variable deposit res depreciation discount rate distributed lag durables Durbin-Watson statistic Econometric effects elasticity employment endogenous variables equations estimates exogenous final demand free reserves function homoscedasticity impact income tax increase indirect business tax industry input input-output table instalment credit interest rates inventory investment iteration labor lagged dependent variable least squares linear long-run manhours manufacturing multipliers nondurables obtained Open market operations output parameters period personal consumption expenditures Predicted 1947 production purchases quarterly ratio real GNP regression repayments residuals RMGBS3 seasonally adjusted sector short-run significant simulation solution standard error stochastic tax cut tion U.S. securities unborrowed reserves values weights WLTH yield zero ᎠᎳ