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An Improved Technique for Obtaining Current Sub-state Income Estimates

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  • Eff, E. Anthon

    (Middle Tennessee State University)

Abstract

This paper compares some specifications for estimating current sub-state (county or MSA) income. A large number of trials are generated, using the data for Tennessee, in a procedure akin to a series of Monte-Carlo experiments. The out-of-sample forecast errors are examined to see which specifications perform best, and then to obtain some insight into the approximate error one would obtain using the best specification.

Suggested Citation

  • Eff, E. Anthon, 1998. "An Improved Technique for Obtaining Current Sub-state Income Estimates," The Review of Regional Studies, Southern Regional Science Association, vol. 28(2), pages 91-103, Fall.
    • Handle: RePEc:rre:publsh:v:28:y:1998:i:2:p:91-103
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    References listed on IDEAS

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    1. Carol Taylor West & Thomas M. Fullerton Jr., 2004. "Assessing the Historical Accuracy of Regional Economic Forecasts," Urban/Regional 0404009, University Library of Munich, Germany.
    2. Daniel F. Waggoner, 1997. "Spline methods for extracting interest rate curves from coupon bond prices," FRB Atlanta Working Paper 97-10, Federal Reserve Bank of Atlanta.
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