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Modelling of Dynamic Processes - Problems with Data

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  • Václava Pánková
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    Abstract

    A major part of econometric studies is relating to events during time thus a data in time series bring specifics problems: serial correlation, seasons variations, seeming regression and bear on the problems of co-integration and unit roots. The econometric model is formulated with respect to relevant economic theory. Its parameters are estimated with base in data which were generated by economic process and our information about its is imperfect. It appears that economic theory has not enough predicate ability to find e.g. an existence of adapting processes, decides which parameters are exogenous, constant or irrelevant.

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    Bibliographic Info

    Article provided by University of Economics, Prague in its journal Politická ekonomie.

    Volume (Year): 1997 (1997)
    Issue (Month): 4 ()
    Pages: 592-602

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    Handle: RePEc:prg:jnlpol:v:1997:y:1997:i:4:id:294:p:592-602

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