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Forecasting Economic Time Series (Hardcover, New) Loot Price: R3,008
Discovery Miles 30 080
You Save: R355 (11%)
Forecasting Economic Time Series (Hardcover, New): Michael Clements, David Hendry

Forecasting Economic Time Series (Hardcover, New)

Michael Clements, David Hendry

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Was R3,363 Loot Price R3,008 Discovery Miles 30 080 | Repayment Terms: R282 pm x 12* You Save R355 (11%)

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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 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.

General

Imprint: Cambridge UniversityPress
Country of origin: United Kingdom
Release date: October 1998
First published: 1998
Authors: Michael Clements • David Hendry
Dimensions: 236 x 157 x 30mm (L x W x T)
Format: Hardcover
Pages: 392
Edition: New
ISBN-13: 978-0-521-63242-3
Categories: Books > Business & Economics > Economics > Economic forecasting
Books > Business & Economics > Economics > Econometrics > General
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LSN: 0-521-63242-0
Barcode: 9780521632423

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