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Summary Statistics and Forecasting Performance

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  • Larson, Don

Abstract

The simultaneous equation econometric model has recently come under increasing, attack as a policy analysis and forecasting tool However, traditional methods of choosing among competing models rely heavily on the use of summary Statistics It IS shown, by example, that choosing a model With relatively better summary statistics does not guarantee getting the best unconditional out-of-sample forecasts Other methods of forecasting time series that allow relative evaluation of the out-of-sample forecasting ability of econometric Simultaneous equation models are also examined

Suggested Citation

  • Larson, Don, 1983. "Summary Statistics and Forecasting Performance," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 35(3), pages 1-12, July.
    • Handle: RePEc:ags:uersja:148991
    DOI: 10.22004/ag.econ.148991
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