1.

Record Nr.

UNINA9910809510703321

Autore

Granger C. W. J (Clive William John), <1934-2009.>

Titolo

Empirical modeling in economics : specification and evaluation / / Clive W.J. Granger

Pubbl/distr/stampa

Cambridge ; ; New York, : Cambridge University Press, 1999

ISBN

1-107-11841-7

1-280-15896-4

0-511-11814-7

0-511-14944-1

0-511-32446-4

0-511-49232-4

0-511-04891-2

Edizione

[1st ed.]

Descrizione fisica

1 online resource (xii, 99 pages) : digital, PDF file(s)

Disciplina

330.015118

Soggetti

Econometric models

Economics - Mathematical models

Econometrics - Evaluation

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Title from publisher's bibliographic system (viewed on 05 Oct 2015).

Nota di bibliografia

Includes bibliographical references and index.

Nota di contenuto

Foreword / G.C. Harcourt -- 1. The specification of empirical models -- 2. The evaluation of empirical models -- 3. Comments on the evaluation of econometric models and of forecasts.

Sommario/riassunto

In these three essays, Professor Granger explains the process of constructing and evaluating an empirical model. Drawing on a wide range of cases and vignettes from economics, finance, politics and environment economics, as well as from art, literature, and the entertainment industry, Professor Granger combines rigour with intuition to provide a unique and entertaining insight into one of the most important subjects in modern economics. Chapter 1 deals with Specification. The process of specifying a model is discussed using  deforestation in the Amazon region of Brazil as an illustration. Chapter 2 considers Evaluation, and argues that insufficent evaluation is undertaken by economists, and that models should be evaluated in



terms of the quality of their output. In Chapter 3, the question of how to evaluate forecasts is considered at several levels of increasing depth and using a more sophisticated, technical approach than in the earlier two chapters.