Summary Statistics and Forecasting Performance

The simultaneous equation econometric model has recently come under increasing, attack as a policy analysis and forecasting tool However, traditional methods of choosing among competing models rely heavily on the use of summary Statistics It IS shown, by example, that choosing a model With relatively better summary statistics does not guarantee getting the best unconditional out-of-sample forecasts Other methods of forecasting time series that allow relative evaluation of the out-of-sample forecasting ability of econometric Simultaneous equation models are also examined


Issue Date:
1983-07
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/148991
Published in:
Agricultural Economics Research, Volume 35, Number 3
Page range:
11-22
Total Pages:
12




 Record created 2017-04-01, last modified 2017-08-27

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