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New coefficients of econometrics models quality estimation

Author

Listed:
  • Svetunkov, Ivan

    () (National Research University “Higher School of Economics”, Sankt-Petersburg, Russia)

Abstract

Advantages and disadvantages of existing coefficient of determination and mean absolute percentage error are examined, and two new coefficients (the compliance coefficient and the balance coefficient) giving new information about the approximation properties of econometrics models, are proposed.

Suggested Citation

  • Svetunkov, Ivan, 2011. "New coefficients of econometrics models quality estimation," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 24(4), pages 85-99.
  • Handle: RePEc:ris:apltrx:0104
    as

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    File URL: http://pe.cemi.rssi.ru/pe_2011_4_85-99.pdf
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    References listed on IDEAS

    as
    1. Peter Kennedy, 2003. "A Guide to Econometrics, 5th Edition," MIT Press Books, The MIT Press, edition 5, volume 1, number 026261183x, January.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    econometrics models quality estimation; approximation error; determination coefficient; complex variables; compliance coefficient; balance coefficient;

    JEL classification:

    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection

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