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Past, Present, and Possible Future of Macroeconometric Models and Their Uses

Lawrence R. Klein

in Comparative Performance of U.S. Econometric Models

Published in print:
1991
Published Online:
October 2011
ISBN:
9780195057720
eISBN:
9780199854967
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195057720.003.0001
Subject:
Economics and Finance, Econometrics

Econometrics, as a total subject, is older than macroeconometric model building and deserves a separate historical inquiry. Early investigations of demand–supply functions, income distributions, ... More


Comparing Macroeconomic Model Forecasts under Common Assumptions

Stephen K. McNees

in Comparative Performance of U.S. Econometric Models

Published in print:
1991
Published Online:
October 2011
ISBN:
9780195057720
eISBN:
9780199854967
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195057720.003.0003
Subject:
Economics and Finance, Econometrics

Economic forecasts differ because forecasters use different macroeconomic models. However, even if everyone used the same model, all forecasts would not be identical. Most forecasts reflect a complex ... More


Model Comparisons and Appraisals 1

Robert J. Shiller

in Comparative Performance of U.S. Econometric Models

Published in print:
1991
Published Online:
October 2011
ISBN:
9780195057720
eISBN:
9780199854967
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195057720.003.0012
Subject:
Economics and Finance, Econometrics

The Model Comparison Seminar has produced some striking findings. The differences in the properties of the major macroeconometric models are much bigger than one might have expected given their ... More


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