Equilibrium and auto regression models used for macroeconomic prognosis
Journal Title: Revista Romana de Statistica - Year 2016, Vol 64, Issue 7
Abstract
The development of econometric models had as prime effect the decrease of critics brought over time on some other types of instruments. In this paper, the authors propose to outline some relevant aspects regarding the making of forecasts through the application of equilibrium and auto-regression models. The prognoses concerning certain classes of the modifications of the parameters out an auto-regressive model are more solid. Hence, in the practical studies one may reach outcomes in which the prognoses of correction type are less correct than those obtained through autoregressive models, which prevent us to assume that a model can function with the same accuracy as to the economic and econometric interpretation as well as to the prognoses accomplishment.
Authors and Affiliations
Mădălina-Gabriela ANGHEL, Aurelian DIACONU
Keywords
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