Macroeconomic Forecasting in the Transition Period — The Case of Hungary
Conference paper
Abstract
Since the beginning of the seventies several macroeconometric models with different assumptions have been elaborated for policy evaluation and forecasts in Hungary. Following the first attempts showing the usefulness of econometric approach in CPE (Halabuk et al. [1973, 1976], Simon [1979]), the econometric modelbuilding and forecasting was closely related to the national planning activity (Hunyadi et al. [1979], Hulyák [1982, 1986, 1989], Hunyadi et al. [1985]), although the econometric models have never become an integrated part of the standard planning methodology based mainly on input-output analysis and on consistency testing of estimations made by planners.
Keywords
Transition Period Foreign Trade Econometric Model Mean Absolute Percentage Error Behavioral Equation
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References
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