Forecasting Economic Time Series

Released on by Michael Clements
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  • Forecasting Economic Time Series Book Detail

  • Author : Michael Clements
  • Release Date : 1998-10-08
  • Publisher : Cambridge University Press
  • Genre : Business & Economics
  • Pages : 402
  • ISBN 13 : 9780521634809
  • File Size : 25,25 MB
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Forecasting Economic Time Series by Michael Clements PDF Summary

Book Description: This book provides a formal analysis of the models, procedures, and measures of economic forecasting with a view to improving forecasting practice. David Hendry and Michael Clements base the analyses on assumptions pertinent to the economies to be forecast, viz. a non-constant, evolving economic system, and econometric models whose form and structure are unknown a priori. The authors find that conclusions which can be established formally for constant-parameter stationary processes and correctly-specified models often do not hold when unrealistic assumptions are relaxed. Despite the difficulty of proceeding formally when models are mis-specified in unknown ways for non-stationary processes that are subject to structural breaks, Hendry and Clements show that significant insights can be gleaned. For example, a formal taxonomy of forecasting errors can be developed, the role of causal information clarified, intercept corrections re-established as a method for achieving robustness against forms of structural change, and measures of forecast accuracy re-interpreted.

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Forecasting Economic Time Series

Forecasting Economic Time Series

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This book provides a formal analysis of the models, procedures, and measures of economic forecasting with a view to improving forecasting practice. David Hendry

Forecasting Economic Time Series

Forecasting Economic Time Series

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Economic Theory, Econometrics, and Mathematical Economics, Second Edition: Forecasting Economic Time Series presents the developments in time series analysis an

Forecasting Economic Time Series

Forecasting Economic Time Series

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This book has been updated to reflect developments in time series analysis and forecasting theory and practice, particularly as applied to economics. The second