Generation and testing of pseudo-random numbers to be used in the stochastic simulation of econometric models
Purpose of this paper is the description of the tecniques used to generate pseudo-random numbers, to be added as disturbance terms to the stochastic structural equations of econometric models. These disturbance terms should have the same statistical properties as the residuals obtained, in each equation, during the estimation phase.
|Date of creation:||1976|
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- Michael K. Evans & Lawrence R. Klein & Mitsuo Saito & Michael D. McCarthy, 1972. "Short-Run Prediction and Long-Run Simulation of the Wharton Model," NBER Chapters, in: Econometric Models of Cyclical Behavior, Volumes 1 and 2, pages 139-200 National Bureau of Economic Research, Inc.
- Gary Fromm & Lawrence R. Klein & George R. Schink, 1972. "Short- and Long-Term Simulations with the Brookings Model," NBER Chapters, in: Econometric Models of Cyclical Behavior, Volumes 1 and 2, pages 201-310 National Bureau of Economic Research, Inc.
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