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Box-jenkins (C1)<br />A methodological approach to the study of TIME SERIES which has improved shortterm economic forecasting by following the method of identification of economic relationships and then estimation of them and diagnostic checking.<br /><em>Reference</em><br />Box, G.E.P and Jenkins, G.M. (1970) Time Series Analysis: Forecasting and Control, San Francisco: Holden-Day.
<strong>HACU</strong> – Hispanic Association of Colleges and Universities.
new federalism (H7)<br />A view of the relationship between US federal and state governments announced by President Nixon in 1971 and revived by President Reagan in the 1980s, that there should be devolution of many federal activities to the states, including education and welfare programmes.<br /><em>See also:</em> dual federalism
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macroeconomics (EO)<br />The study of the relationship between economic aggregates, particularly national income, total consumption, investment and the money supply. Although ROBERTsoN in his A Study of the Trade Cycle in 1915 was perhaps the first economist to emphasize the importance of considering output in aggregate terms, the Keynesian revolution made this new approach a concern of economics; the associated advent of NATIONAL INCOME aCCOUnting provided data to measure the relationships. Since macroeconomics is used to analyse governments' economic policies, it 1s mevitably surrounded by controversy.<br /> <br /><em>Reference</em><br />Blanchard, 0.1. and Fischer, S. (1989) Lectures on Macroeconomics, Cambridge, MA, and London: MIT Press.<br /> Phelps, E.S. (1990) Seven Schools of Macroeconomic Thought, Oxford: Clarendon Press.
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