Journal Of The Econometric Society

An International Society for the Advancement of Economic
Theory in its Relation to Statistics and Mathematics

Edited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262

Econometrica: Oct, 1966, Volume 34, Issue 4

The Role of Macroeconomic Models in Short-Term Forecasting<862:TROMMI>2.0.CO;2-X
p. 862-872

C. E. V. Leser

The assumptions underlying the application of econometric models to short-term forecasting are discussed and examined. It is suggested that the distinction between predictor variables estimated from outside information and predicted variables to be estimated by the equations of the model should follow practical rather than theoretical considerations. An illustration in the form of a simple prediction model for Ireland is given.

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