Use of anticipations data in the anticipations model

  • Walter Naggl
Part of the International Studies In Economic Modelling book series (ISIM)

Abstract

Forecasting the future and simulation are the main goals of econometric modelling. Forecasts have not been totally successful in worldwide practice so far. Neither the improvements in estimation methods, nor the continued enlargement of econometric models, have abolished wrong forecasts. Such renowned observers as McNees (1979) or Zarnowitz (1979), for instance, conclude that even the large-scale commercial models of Chase, Data Resources, Inc. (DRI), and Wharton are not superior to other forecasting methods. The saying that econometricians forecast better than econometric models1 is still true.

Keywords

Econometric Model Private Consumption Anticipation Data Price Expectation Fixed Investment 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Chapman and Hall Ltd 1988

Authors and Affiliations

  • Walter Naggl

There are no affiliations available

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