Small sample estimation and stochastic simulation of an econometric model

Show full item record

Title: Small sample estimation and stochastic simulation of an econometric model
Author: Ahlstedt, Monica
Organization: Bank of Finland
Series: Bank of Finland. Series D
Series number: 63
Year of publication: 1986
Publication date: 1.3.1986
Pages: 195
Subject (yso): ekonometria; ekonometriset mallit; makrotaloustiede
Abstract: Let us define a macroeconomic model as a system of simultaneous equations describing the behaviour of the economic units that we observe around us and want to explain. Models are the most widely known and used quantitative instruments for economic forecasting and evaluation of the effects of alternative government actions on the econorny1. When models are used for economic policy purposes, it is important that policy makers should be provided with a measure of reliability along with the forecasts. This study is concerned with the uncertainty inherent in economic models. The aim of the study is twofold: first to investigate how to improve the reliability of the model by minimizing the uncertainty the estimation phase of the model and then how to calculate the variance-covariance matrix of forecasts so as to rneasure the reliability of a model.
Rights: https://helda.helsinki.fi/bof/copyright


Files in this item

Total number of downloads: Loading...

Files Size Format View
D_63.pdf 6.071Mb PDF View/Open

This item appears in the following Collection(s)

Show full item record