Do Economic Restrictions Improve Forecasts?

A previous study showed that imposing economic restrictions improves the forecasting ability of food demand systems, thus warranting their use even when rejected in-sample. This study attempts to determine whether this is due solely to the fact that restrictions improve degrees of freedom. Results indicate that restrictions improve forecasting ability even when not derived from economic theory, but theoretical restrictions forecast best.


Issue Date:
2003
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/22208
Total Pages:
18
Series Statement:
Selected Paper




 Record created 2017-04-01, last modified 2017-08-24

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