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An econometric model then is a set of joint probability distributions to which the true joint probability distribution of the variables under study is supposed to belong. In the case in which the elements of this set can be indexed by a finite number of real-valued parameters , the model is called a parametric model ; otherwise it is a ...
Econometric models are used by economists to estimate relationships between large numbers of variables, most importantly to model national economies or the world economy. Econometric models is included in the JEL classification codes as JEL: C5
Econometric models (1 C, 14 P) Energy models (11 P) F. Financial models (4 C, 90 P) Pages in category "Economics models" The following 86 pages are in this category ...
A basic tool for econometrics is the multiple linear regression model. [8] Econometric theory uses statistical theory and mathematical statistics to evaluate and develop econometric methods. [ 9 ] [ 10 ] Econometricians try to find estimators that have desirable statistical properties including unbiasedness , efficiency , and consistency .
An economic model is a theoretical construct representing economic processes by a set of variables and a ... A Study in Econometrics, New York: Wiley. Gordon ...
Econometric models (1 C, 14 P) M. Microsimulation (10 P) S. Simultaneous equation methods (econometrics) (1 C, 5 P) ... This list may not reflect recent changes. A.
Econometrics may use standard statistical models to study economic questions, but most often they are with observational data, rather than in controlled experiments. [10] In this, the design of observational studies in econometrics is similar to the design of studies in other observational disciplines, such as astronomy, epidemiology, sociology and political science.
Forecasters may use computational general equilibrium models or dynamic stochastic general equilibrium models. The latter are often used by central banks. Methods of forecasting include Econometric models, Consensus forecasts, Economic base analysis, Shift-share analysis, Input-output model and the Grinold and Kroner Model.