[PDF] A Comparison Of Econometric Models eBook

Author : Lawrence R. Klein
Publisher : University of Pennsylvania Press
Page : 416 pages
File Size : 28,48 MB
Release : 2016-11-11
Category : Business & Economics
ISBN : 1512803561

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Models of the American economy exist in government, research institutes, universities, and private corporations. Given the proliferation, it is wise to take stock because these models come from diverse sources and describe different conditions from alternative points of view. They could be saying different things about the economy. The high-level comparative studies in this volume, gathered from several issues of the International Economic Review, with a substantive introduction and the addition of more comparative material, evaluate the performance of eleven models of the American economy: the Wharton Mark Ill Model; Brookings Model; Hickman-Coen Annual Model; Liu-Hwa Monthly Model; Data Resources, Inc. (DRI) Model; Federal Reserve Bank of St. Louis Model; Michigan Quarterly Econometric (MOEM) Model; Wharton Annual and Industry Model; Anticipation Version of the Wharton Mark Ill Model/Fair Model; U.S. Department of Commerce (BEA) Model. Each of the proprietors or builders of these models describes his own system in his own words. These studies come closer than ever before to standardizing model operations for testing purposes. Some of the models are monthly, while others are annual. but the quarterly unit of time is the most frequent. Some are demand oriented, others are supply oriented, and focus on the input-output sectors of the economy. Some use only observed. objective data; others use subjective. anticipatory data. Both large and small models are included. In spite of the diversity, the contributors have cooperated to trace the differences between their models to root causes and to report jointly the results of their research. There are also some general papers that look at model performance from outside the CEME group.

Author : Lawrence Robert Klein
Publisher : Oxford University Press, USA
Page : 338 pages
File Size : 19,90 MB
Release : 1991
Category : Business & Economics
ISBN : 0195057724

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Each year, a number of different economic groups in the USA use their own econometric models to forecast what will happen to the economy in the coming year. This volume consists of chapters by distinguished economists comparing the different models now being used.

Author : Jan Kmenta
Publisher : Academic Press
Page : 425 pages
File Size : 23,71 MB
Release : 2014-05-10
Category : Business & Economics
ISBN : 1483267342

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Evaluation of Econometric Models presents approaches to assessing and enhancing the progress of applied economic research. This book discusses the problems and issues in evaluating econometric models, use of exploratory methods in economic analysis, and model construction and evaluation when theoretical knowledge is scarce. The data analysis by partial least squares, prediction analysis of economic models, and aggregation and disaggregation of nonlinear equations are also elaborated. This text likewise covers the comparison of econometric models by optimal control techniques, role of time series analysis in econometric model evaluation, and hypothesis testing in spectral regression. Other topics include the relevance of laboratory experiments to testing resource allocation theory and token economy and animal models for the experimental analysis of economic behavior. This publication is intended for students and researchers interested in evaluating econometric models.

Author : W. Allen Spivey
Publisher : A E I Press
Page : 92 pages
File Size : 39,93 MB
Release : 1979
Category : Business & Economics
ISBN :

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Monograph on current econometric models used in economic forecasting and economic policy assessment - presents the methodology of linear and nonlinear simulation models, and includes a statistical analysis of forecast errors of major econometric models. Bibliography pp. 73 to 77, graphs and statistical tables.